Jersey City, NJ—Multifamily properties in Jersey City have appreciated about seven percent in the past 12 months thanks to increasing gentrification, rapid development away from the waterfront, and tenants fleeing high costs on the New York side, says Gebroe-Hammer Associates.     

“Jersey City is right behind Brooklyn in terms of gentrification and its impact on the tenant demographic and accelerating property values and asking rents,” says Nicholas Nicolaou, senior vice president and the firm’s Hudson County market specialist. “The market and its existing multi-family housing stock have proven they can withstand virtually anything the economy or housing market might throw at it.”

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