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Jersey City
Many New Yorkers are ditching the expensive city and choosing Jersey City real estate and a train ride commute to save money. The flood of these people is driving up home prices and decreasing inventory. While it’s clearly a seller’s market in Jersey City, homes are still affordable for buyers. Investing in Jersey City real estate means getting proximity to the most popular and populous city in the country, at a much lower price. Tenants are moving to Jersey City but still going to New York City for work and entertainment.
What’s the best part about investing in Jersey City real estate? Seventy percent of residents are renters. Investing in Jersey City real estate offers short-term and long-term benefits - rents are high (good cash flow) and property values have increased by approximately 6% in the last year (home appreciation).
Airbnb Jersey City is also another way to make money in real estate in this city. Airbnb Jersey city is legal, and why is that so great? With the recent banning of Airbnb New York, there are likely to be tourists who will still seek Airbnb properties to save money on short-term lodging.