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Jersey City has long been known as the city with the fastest-growing real estate market in the United States. The average home price in Jersey City is $600,000 and that number is only going up.
Buying a home here can give you many perks, such as no state or federal income tax, the ability to deduct the mortgage interest and property taxes from your yearly income, and increased equity.
While Jersey City might be one of the best areas to buy a home in, you need to do your research before jumping into this area. There are many new developments, such as the Bright Hill development and Plaza on the Go, which will add to the population.
The city will also be adding more transportation options. If you do decide to buy a home in Jersey City, make sure you know all of the mortgage types, such as 30-year fixed, 15-year fixed, and adjustable rate.
Most of the homes in this area are still in the historic neighborhoods, so make sure you find out what areas they are in and where they are located. If you are interested in finding out more about the Jersey City real estate market, feel free to contact us.
