Jersey City housing market update: prices firm, inventory tighter, mortgage rates slip under 6%
Jersey City, NJ – February 28, 2026 – Median list price holds near $679K with about 1,008 homes for sale; listings are down about 10% month over month as mortgage rates average …
Top takeaways
- Median listing price: $679K, with 1,008 homes for sale.
- Inventory: listings fell about 10.06% month over month.
- Pricing: median list price rose about 4.46% month over month.
- Mortgage rates: 30-year fixed averaged 5.98% for the week ending 02/26/2026.
Market snapshot
The median listing price is $679K, and the median price per square foot is $619. Recent month-over-month movement shows a tighter for-sale selection alongside higher asking prices: listings are down about 10.06%, while the median list price is up about 4.46%. That mix can keep well-priced homes moving, but buyers often remain rate-sensitive—especially when comparing monthly payments across similar homes.
For shoppers tracking week-to-week financing conditions, the 30-year fixed average of 5.98% (week ending 02/26/2026) lands just under 6%, which may help some buyers re-run affordability scenarios heading into spring.
On the rental side, the median rent is $2,650, with roughly 1.3K rentals currently showing in the market view. Renters and landlords alike may want to keep an eye on how quickly the available rental count changes, since shifts in supply can influence negotiating room on price and lease terms.
Development & policy watch
A bird-safe building ordinance (26-008) has returned to the council agenda. Discussion has centered on potential amendments that could change when requirements apply and how projects can comply. For buyers, sellers, and builders, the practical takeaway is that any revisions (and any future vote dates) could affect costs and timelines on certain projects.
- Watch for: amendment language that changes the trigger for compliance.
- Watch for: updates that clarify acceptable compliance paths for projects.
What are you seeing right now: more price cuts, multiple offers, or longer time on market?