The 10 Cheapest Jersey City, NJ Neighborhoods To Live In For 2019


We used science and data to determine which neighborhoods in Jersey City are the cheapest of the cheap.

Editor’s Note: This is our first time ranking the cheapest neighborhoods to live in Jersey City.
Cheapest Neighborhoods In Jersey City

Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.

I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.

And while every neighbhorhood in Jersey City might be more expensive than living in rural New Jersey, there are certain neighborhoods that are definitely cheaper.

So what exactly are those Jersey City neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?

Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Jersey City are the cheapest.

Here are the cheapest neighborhoods in Jersey City for 2020:

  1. Hackensack Riverfront (Homes)
  2. Liberty Park (Homes)
  3. Lincoln Park (Homes)
  4. The Waterfront (Homes)
  5. Downtown (Homes)

What’s the cheapest neighborhood to live in Jersey City for 2020? According to the most recent census data, Hackensack Riverfront looks to be the cheaptest Jersey City neighborhood to live in.

At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Jersey City. You could be sacrificing location or crime rates in return for more space and cheaper groceries.

Read on to see how we determined the places around Jersey City that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Jersey City.

Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.

For more New Jersey reading, check out:

How We Determined The Cheapest Jersey City Hoods In 2020

In order to rank the cheapest places to live in Jersey City, we had to determine what criteria defines “cheap”.

Using census and extrapolated BLS data, we arrived at the following set of criteria:

  • Overall Cost Of Living
  • Rent To Income Ratio
  • Median Home Value To Income Ratio

We then ranked each neighborhood with scores from 1 to 11 in each category, where 1 was the cheapest.

Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.

And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Jersey City.” We’re lookin’ at you, Hackensack Riverfront.

Read on below to learn more about what it’s like to live in the cheapest places Jersey City. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.

The 5 Cheapest Neighborhoods To Live In Jersey City For 2020

Overall SnackAbility

9
/10

Population: 4,139
Cost Of Living Index: 128 (1st cheapest)
Home Value To Income Ratio: 3.8 (3rd cheapest)
Rent To Income Ratio: 0.019 (4th cheapest)
More on Hackensack Riverfront: Homes For Sale | Data

The median income in Hackensack Riverfront comes in at $81,668 and the median home value is $312,060 for 2020.

Overall SnackAbility

9
/10

Population: 447
Cost Of Living Index: 150 (9th cheapest)
Home Value To Income Ratio: 2.5 (1st cheapest)
Rent To Income Ratio: 0.011 (1st cheapest)
More on Liberty Park: Homes For Sale | Data

The median income in Liberty Park comes in at $139,750 and the median home value is $350,100 for 2020.

Overall SnackAbility

8
/10

Population: 1,175
Cost Of Living Index: 139 (4th cheapest)
Home Value To Income Ratio: 4.7 (4th cheapest)
Rent To Income Ratio: 0.019 (5th cheapest)
More on Lincoln Park: Homes For Sale | Data

The median income in Lincoln Park comes in at $59,923 and the median home value is $283,967 for 2020.

Overall SnackAbility

10
/10

Population: 10,234
Cost Of Living Index: 168 (11th cheapest)
Home Value To Income Ratio: 3.2 (2nd cheapest)
Rent To Income Ratio: 0.016 (2nd cheapest)
More on The Waterfront: Homes For Sale | Data

The median income in The Waterfront comes in at $139,130 and the median home value is $443,890 for 2020.

Overall SnackAbility

10
/10

Population: 31,125
Cost Of Living Index: 167 (10th cheapest)
Home Value To Income Ratio: 5.0 (5th cheapest)
Rent To Income Ratio: 0.017 (3rd cheapest)
More on Downtown: Homes For Sale | Data

The median income in Downtown comes in at $96,326 and the median home value is $484,010 for 2020.

Summing Up The Cheapest Places In Jersey City

If you’re measuring the neighborhoods in Jersey City where prices are low and it’s cheap to live, this is an accurate list.

As we mentioned earlier, the neighborhoods in Jersey City aren’t all cheap. Bergen-Lafayette takes the title of the most expensive neighborhood to live in Jersey City.

We ranked the neighborhoods from cheapest to most expensive in the chart below.

For more New Jersey reading, check out:

Detailed List Of The Cheapest Neighborhoods To Live In Jersey City For 2020

Rank Neighborhood Cost Of Living Index
1 Hackensack Riverfront 128
2 Liberty Park 150
3 Lincoln Park 139
4 The Waterfront 168
5 Downtown 167
6 Greenville 134
7 West Side 140
8 Journal Square 139
9 The Heights 141
10 Mcginley Square 137
11 Bergen-Lafayette 140

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

Leave a Reply

Your email address will not be published. Required fields are marked *