I asked myself the same question about four years ago. At the time I lived in a new 2 bed/2 bath condo at Second and Monroe in Hoboken just 2 blocks from the new Light Rail station. I was tired of impossible parking and the inconvenience of being so far from the shops and restaurants most of which are located on or around Washington St. The demographic felt like it was getting younger but I guess I was just getting older. After a little research I found that I could have the conveniences I wanted and more space for the same price in downtown Jersey City, so I moved. For me it turned out to be the right choice.
I enjoy the diversity of the people, shops and restaurants found in Jersey City. Transportation is good with a total of 7 Light Rail stations & 3 PATH stations in Downtown alone plus street parking is manageable. I think Jersey City benefits from a zoning map that allows for the perfect mix of open space, residential and retail uses to co-exist in each neighborhood. Jersey City has a lot more real estate that will be developed and revitalized in the coming years when compared to Hoboken. I believe development will occur in a manner that will continue to add value to the area. In the long-term I think Jersey City offers more prospects for growth. In the short-term I think both markets will perform similarly and would recommend the area you are most comfortable living in.
I hope my experience helps with your decision.
Jason Ma, MSRE
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