Bayonne, New Jersey Housing Market Prices
Bayonne Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 10% above the New Jersey median$388,297
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Median rent 2% below the New Jersey median$1,682
Housing Market Overview
| Metric | Bayonne | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $388,297 | $352,792 | $248,835 |
| Price Trend (Annual %) | 0.4% | 4.4% | 7.5% |
| Median Gross Rent | $1,682 | $1,719 | $1,407 |
| Rent Trend (Annual %) | 4.8% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bayonne is about 10% higher than in New Jersey. Rent is about 2% lower than the New Jersey average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Bayonne, up about 0.4% and 4.8% a year respectively. Rent is changing faster.
Median rent in Bayonne rose about 48.1% between 2015 and 2024, from $1,136 to $1,682. Over the same span, rent in New Jersey rose about 44.3%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Bayonne.
Buying the median-priced home in Bayonne costs roughly 19.2 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bayonne. The price-to-rent ratio in New Jersey is about 17.1.
| Metric | Bayonne | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $388,297 | $352,792 | $248,835 |
| Median Household Income | $83,559 | $103,817 | $80,455 |
| Price-to-Income Ratio | 4.6 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bayonne fell about 6.4%, while median household income rose about 58.6% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bayonne | New Jersey Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 34.1% | 59.1% | 58.5% |
| Rental Rate | 60.0% | 33.5% | 31.2% |
| Vacancy Rate | 6.0% | 7.5% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Bayonne has a homeownership rate of 34.1%, lower than the New Jersey average of 59.1%. Its housing vacancy rate is 6.0%, compared with 7.5% in New Jersey.
Housing Stock
| Metric | Bayonne | New Jersey Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1957 | 1968 | 1978 |
| Median Number of Rooms | 4.3 | 5.7 | 5.5 |
The typical housing unit in Bayonne was built around 1957. On average, 2.5 people live in a home with about 4.3 rooms, staying for about 12.0 years on average.
Bayonne, NJ Housing Compared With Nearby Cities
Bayonne, NJ is the 4th largest of the 5 cities compared here, 71,520 residents against a local median of 215,517. The measure that sets Bayonne, NJ apart most is homeownership: 36.2%, 35% above the local median of 26.8%. That is the better end of the local range on this measure.
The cities themselves spread 18.5% on homeownership, so Bayonne, NJ sits at one end of an already wide local range rather than apart from it. Bayonne, NJ has the 2nd highest homeownership of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Bayonne, NJ | 71,520 | $388,297 #3/5 | $1,682 #3/5 | 36.2% #2/5 |
| Jersey City, NJ | 293,788 | $461,532 | $2,005 | 27.9% |
| Elizabeth, NJ | 137,246 | $456,683 | $1,523 | 25.6% |
| Newark, NJ | 309,652 | $190,352 | $1,392 | 24.4% |
| Kearny, NJ | 40,646 | $307,143 | $1,720 | 42.9% |
Frequently Asked Questions
Common questions about the housing market in Bayonne, New Jersey.
What is the median home price in Bayonne, New Jersey?
The median home price in Bayonne, New Jersey is $388,297, higher than the New Jersey average of $352,792.
What is the average home price in Bayonne, New Jersey?
The typical home price in Bayonne, New Jersey, reported as the median sale price, is $388,297. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Bayonne, New Jersey?
The median gross rent in Bayonne, New Jersey is $1,682 per month, lower than the New Jersey average of $1,719.
What was the median gross rent in Bayonne in 2020?
In 2020, the median gross rent in Bayonne, New Jersey was $1,325 per month.
What is the price-to-rent ratio in Bayonne, New Jersey?
The price-to-rent ratio in Bayonne, New Jersey is about 19.2, meaning it would take roughly 19.2 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bayonne.
Are home prices or rent rising faster in Bayonne, New Jersey?
Both home prices and rent are rising in Bayonne, up about 0.4% and 4.8% a year respectively. Rent is changing faster.
What is the homeownership rate in Bayonne, New Jersey?
34.1% of households in Bayonne, New Jersey own their home, lower than the New Jersey average of 59.1%.
What is the vacancy rate in Bayonne, New Jersey?
The housing vacancy rate in Bayonne, New Jersey is 6.0%, lower than the New Jersey average of 7.5%.
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