Cost of Living in Jersey City, NJ
Jersey City has a cost of living index of 140 (100 = national average), making it significantly more expensive than the national average. The median household income is $80,204 and the median home price is $580,000.
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Jersey City at a Glance
Population
283,927
Cost of Living Index
140
Median Income
$80,204
Median Home Price
$580,000
Property Tax Rate
1.55%
Sales Tax Rate
6.63%
Rent Index
155
State
New Jersey
Living in Jersey City
Jersey City is one of the more expensive cities in the United States. Housing costs are a major factor, with the median home price at $580,000. However, the median household income of $80,204 partially offsets the higher costs.
The combined sales tax rate in Jersey City is 6.63%, and the effective property tax rate is 1.55%. Property taxes are above the national average, which is an important consideration for homebuyers.