Newark(Business District, Society Hill & Ironbound) vs. Jersey City(heights), which is a better real estate investment? (living, best)

[ediva5]

I'd like to get information from savvy investors and real estate agents on which place would be a better real estate investment. Newark or Jersey City(heights)

I'm a first time homebuyer, single female, no kids, working 9-5 in central NJ and freelancing in NY - I also take classes in the city in the evenings, and party mostly in the city.

I'm eyeing a few prospective places in both Newark (downtown, Society Hill, Ironbound) and Jersey City Heights (near the Congress St. Light rail elevator). My budget is up to a max of about $200k for a 1-2 bedroom unit.

I've checked many other (more suburban) towns but I believe Newark and Jersey City would serve me best in terms of commuter convenience, especially Newark since it has both the Path (which runs 24/7) and NJ Transit trains so I can get to any of my jobs without needing a car (I'm looking at places mostly within walking distance to a rail stop).

I'd like professional opinions and insight on which city would likely give me the most return on my investment. I project that I'd keep a 1 bedroom for maybe 5 years before I outgrow it and need something bigger.

In most cases I find that Jersey City is more expensive for less space (650sqft) and sometimes less modern amenities (no central air, washer dryer, etc), but parking and all utilities are included. I've found much larger units in Newark (1000sqft+) for comparable asking prices - some have more amenities, but may not include all or any utilities.

p.s. I lived in the South Ironbound for 4+ years and had no problems, so I am not overwhelmingly concerned about the urban landscape of the two cities, however I am focusing on purchases in their safer areas (that are within my budget).

Any insight would be greatly appreciated. Thanks in advance!

[newarkboy]

Newark hands down way more upside.

[jknic]

I'd suggest Newark because you're going to have a lot of difficulty going from Jersey City to the rest of NJ compared to Newark


P.S. Why is this in City vs City? It belongs in the NJ forum. For the most part I doubt that most people in the 49 other states will be of much help or knowledge on this.

[BPerone201]

I'd go with Jersey City personally, but living in the Ironbound or Downtown section of Newark is the better choice because it's pretty much the gateway to central Jersey which is where your commuting to. I also believe you'd get more fr your money in Newark.