Union City, New Jersey Housing Market Prices
Union City 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 40% below the New Jersey median$209,974
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Median rent 11% below the New Jersey median$1,537
Housing Market Overview
| Metric | Union City | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $209,974 | $352,792 | $248,835 |
| Price Trend (Annual %) | -0.9% | 4.4% | 7.5% |
| Median Gross Rent | $1,537 | $1,719 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Union City is about 40% lower than in New Jersey. Rent is about 11% lower than the New Jersey average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Union City: home prices fell about 0.9% a year while rent rose about 4.0% a year. That is an unusual pattern worth watching.
Median rent in Union City rose about 38.1% between 2015 and 2024, from $1,113 to $1,537. Over the same span, rent in New Jersey rose about 44.3%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Union City.
Buying the median-priced home in Union City costs roughly 11.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Union City. The price-to-rent ratio in New Jersey is about 17.1.
| Metric | Union City | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $209,974 | $352,792 | $248,835 |
| Median Household Income | $64,444 | $103,817 | $80,455 |
| Price-to-Income Ratio | 3.3 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Union City fell about 15.6%, while median household income rose about 48.8% 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 | Union City | New Jersey Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 17.9% | 59.1% | 58.5% |
| Rental Rate | 76.0% | 33.5% | 31.2% |
| Vacancy Rate | 6.1% | 7.5% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Union City has a homeownership rate of 17.9%, lower than the New Jersey average of 59.1%. Its housing vacancy rate is 6.1%, compared with 7.5% in New Jersey.
Housing Stock
| Metric | Union City | New Jersey Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1962 | 1968 | 1978 |
| Median Number of Rooms | 3.8 | 5.7 | 5.5 |
The typical housing unit in Union City was built around 1962. On average, 2.6 people live in a home with about 3.8 rooms, staying for about 12.0 years on average.
Union City, NJ Housing Compared With Nearby Cities
How Union City, NJ compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Union City, NJ | 66,416 | $209,974 #2/2 | $1,537 #2/2 | 19.1% #2/2 |
| Hoboken, NJ | 58,199 | $1,288,134 | $2,929 | 33.7% |
Frequently Asked Questions
Common questions about the housing market in Union City, New Jersey.
What is the median home price in Union City, New Jersey?
The median home price in Union City, New Jersey is $209,974, lower than the New Jersey average of $352,792.
What is the average home price in Union City, New Jersey?
The typical home price in Union City, New Jersey, reported as the median sale price, is $209,974. 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 Union City, New Jersey?
The median gross rent in Union City, New Jersey is $1,537 per month, lower than the New Jersey average of $1,719.
What was the median gross rent in Union City in 2020?
In 2020, the median gross rent in Union City, New Jersey was $1,246 per month.
What is the price-to-rent ratio in Union City, New Jersey?
The price-to-rent ratio in Union City, New Jersey is about 11.4, meaning it would take roughly 11.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Union City.
Are home prices or rent rising faster in Union City, New Jersey?
Home prices and rent are moving in opposite directions in Union City: home prices fell about 0.9% a year while rent rose about 4.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Union City, New Jersey?
17.9% of households in Union City, New Jersey own their home, lower than the New Jersey average of 59.1%.
What is the vacancy rate in Union City, New Jersey?
The housing vacancy rate in Union City, New Jersey is 6.1%, lower than the New Jersey average of 7.5%.
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