Hudson County’s 'Most, Least Expensive' Zip Codes For Homes

HOBOKEN, NJ — If you’re an aspiring homeowner looking for a house in Hudson County on a budget, you might want to turn an eye to Kearny if you can’t find anything affordable in Hoboken, a study says.

Financial information provider PropertyShark recently released a report: “Where Can You Buy a Home Under $300/Sq. Ft. in Hudson County?” As part of the report, researchers took a look at Hudson County, which is offering people an increasingly tempting refuge from New York City real estate prices.

Read the full report here.

While only Staten Island and the Bronx offer homes priced below $500 per square foot in each of their zip codes – even the Bronx is now more expensive than Hudson County – the Jersey side of the river has some sweeter deals, PropertyShark researchers said.

“Just across the river from the Upper West Side, real estate prices tell an entirely different story in Hudson County. Of its 14 zip codes, only two feature prices above $500/sq. ft. – in fact, 9 out of Hudson County’s 14 zips posted sale prices below $300 /sq. ft.”

The most expensive submarket in Hudson County was Hoboken, the study said. But that didn’t seem to put a damper on the city’s hot real estate market, which also ranked as the “most active zip code” with 345 sales.

According to the study:

“It’s evident that Hudson County’s two most expensive zip codes – 07030 and 07302 – owe their higher prices to their proximity to Manhattan as well as attractive views of the water and the Manhattan skyline. As a result, both these zip codes have seen gentrification take hold, pushing prices up. 07302’s median price per square foot reached $701, ranking it as the #2 priciest zip code in Hudson County. This means that Jersey City’s Historic Downtown and the Waterfront’s southern half are more than 4.5 times more expensive than the national median, which stood at $150/sq. ft in the first half of 2018.”

Researchers added:

“In 07030, Hudson County’s #1 most expensive zip code, prices hit a median of $721/sq. ft., bringing the median home sale price in Hoboken to $764,000. As such, Hoboken’s median sale price is just short of being twice as expensive as Hudson County’s $399,000 median. Despite ranking as the top most expensive zip code, Hoboken’s draw means that it also ranked as the #1 most active zip code, registering the highest number of sales, with 345 closed transactions in H1 2018.”

Meanwhile, Kearny’s 07032 zip code ranked as the most affordable, with prices nearing the national median, researchers said.

According to PropertyShark:

“On the other end of the pricing spectrum sits 07032, the least expensive zip code in Hudson County, with a median home value of $290,000, well below Hudson County’s median. Less than 15 miles from Manhattan, 07032 features a median sale price of $177/sq. ft., just 18% higher than the national figure. Close by, 07002 in the city of Bayonne and 07305, which covers Jersey City’s Hackensack Riverfront, Greenville and parts of Bergen-Lafayette, also present a more budget-friendly alternative to potential homebuyers with their sales prices clocking in at $195 and $198 per square foot, respectively.”

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