Skip to content
House Hacking

User Stats

3
Posts
0
Votes
Zachary Verdi
0
Votes |
3
Posts

Trends in Jersey City, NJ

Zachary Verdi
Posted Jun 19 2022, 13:36

Hello! First time poster here and newbie. I am getting out of the military and am moving back to NJ, where I am from. I am currently trying to find a house hacking opportunity using my VA Loan. Does anyone have any information on trends in the Jersey City, NJ area? I am looking at this area as it is close to NYC so eventually, when I move out, it would provide a convenient place for a tenant to commute into the city. Any info would be appreciated. Thanks!

User Stats

152
Posts
71
Votes
Frank Avallone II
  • Lender
  • Morristown, NJ
71
Votes |
152
Posts
Frank Avallone II
  • Lender
  • Morristown, NJ
Replied Jun 19 2022, 15:06

hi @Zachary Verdi, first off, thank you for your service!

Depending on your current situation Jersey City could definitely be a great spot for your house hacking investment.

Having the opportunity to use a VA loan for your first property brings a lot of great benefits that you should know!

I'd love to chat about some creative options to help you maximize your first investment!

User Stats

51
Posts
15
Votes
Adam Pervez
Pro Member
15
Votes |
51
Posts
Adam Pervez
Pro Member
Replied Jun 19 2022, 15:27

Hi Zachary,

Thank you for your service! Are you looking into Multifamilies, Condos, townhomes? I am from Jersey and I have noticed that Multifamilies are pricy. The VA loan is definitely advantageous for you.

BiggerPockets logo
Meet Investor-Friendly Agents
|
BiggerPockets
Network with top investor-friendly agents who can help you find, analyze, and close your next deal.

User Stats

400
Posts
233
Votes
Jason Lee
Pro Member
  • Real Estate Agent
  • New York, NY
233
Votes |
400
Posts
Jason Lee
Pro Member
  • Real Estate Agent
  • New York, NY
Replied Jun 20 2022, 09:23

New listings were down in April YOY, closed sales were down, days on market was way down, and median prices was way up. The average closed sales price in April was over the full asking for sfh, townhouses, and condos. It's a frothy market but rising rates and the volatility in equities should cool things down a bit.