New Jersey boasts the proximity to New York City but the amenities of a suburban feel with slightly quieter streets and bigger homes. Because of the many perks of a Jersey neighborhood, the market is quite competitive. In this month’s neighborhood guide, we look at three of the most popular neighborhoods: Hoboken, Montclair, and Princeton.

(NOTE: The below pricing is pulled from Station Cities Market Pulse Reports. These are based on data collected from landlords, real estate agents and brokers, developers, and other public sources. All material presented herein is intended for information purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal without notice. Broker and On-Line Residential, Inc assumes no responsibility for inaccuracies in the information presented.)

Hoboken

Market Trends:

Located just across the Hudson River from New York City, Hoboken is ideal for enjoying the perks of city and suburban life. Hoboken offers a variety of housing choices, from high-rise condos with river views to historic brownstones and smaller, cozy apartment buildings. This variety appeals to different demographics, from young professionals to families and retirees. The city also has a bustling social scene with a good mix of restaurants, cafes, bars, and boutique shops. Hoboken is undoubtedly the most competitive neighborhood in New Jersey. Homes typically sell after 27 days on the market. In September 2024, 96 homes were sold, up from 79 in the same month last year.

Pricing Trends:

Property Type Average Rent Prices Average Sales Price
Studio $2,900 $467,000
1 Bedroom $3,336 $585,700
2 Bedroom $4,517 $1,066,000
3 Bedroom $5,026 $1,532,000


Montclair

Market Trends:

Montclair’s direct train access to New York City makes it ideal for the balance of city and suburban life. It offers slightly larger homes than the Hoboken area. For those thinking to start or expand a family, it’s also ideal for its highly-rated schools. The town offers a magnet school system, giving families a choice in educational approaches and focuses, like arts, technology, or language immersion. Montclair is also a highly diverse neighborhood, attracting people from all backgrounds. Homes typically sell after 14 days on the market, with 19 homes sold in October, closing at 84% above the asking price.

Pricing Trends:

Property Type Average Rent Prices Average Sales Price
Studio $1,938 $255,000
1 Bedroom $2,239 $325,000
2 Bedroom $3,500 $546,000
3 Bedroom $4,700 $992,000
4 Bedroom $5,700 $1,350,000


Princeton

Market Trends

Princeton may be most famous for Princeton University’s campus right in the middle of the borough. It is also home to major healthcare systems, and a range of financial and tech companies nearby, making it desirable for college graduates to stay and work. Residents appreciate the town’s blend of modern amenities with a historic, small-town feel, while still being a reasonable commute to New York City. Princeton consistently ranks highly for quality of life, including low crime rates, well-maintained public amenities, and excellent local government services. Homes typically sell after 29 days on the market. 178 homes were sold in Princeton in October 2024, up from 133 last year.

Pricing Trends:

Property Type Average Rent Prices Average Sales Price
Studio $2,850 $366,250
1 Bedroom $2,580 $585,000
2 Bedroom $3,828 $803,000
3 Bedroom $4,883 $917,000
4 Bedroom $5,904 $1,500,000


Understanding the market trends and characteristics of each area is crucial for making informed decisions when renting or buying. When considering your next move, take into account not just the current prices but also the lifestyle, amenities, and long-term potential of each neighborhood. The right fit goes beyond square footage; it’s about finding a place that feels like home. Let Station Cities help you! Contact us at www.stationcities.com and get started on your home search today.

About Station Cities:

Station Cities is a full-service real estate brokerage specializing in complex markets and has helped thousands of individuals and executives successfully buy, sell, and lease in the markets of the New York Tri-State Area and Chicago. Our team of dedicated real estate professionals are fully committed to service excellence, unyielding integrity, and delivering results through hard work and innovation. We know the ins and outs of complicated real estate markets and we know what it takes to find a home our clients love in a neighborhood that fits their lifestyle. Station Cities is a brokerage firm under the parent company of Dwellworks – the largest global mobility provider in the world, helping employees moving for work find a home and get settled in their new city.