Commercial Real Estate Market in Union City, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
175 active listings and 1,439 off-market properties in Union City, NJ. Commercial property asks $869/SF to buy and $32.46/SF/Yr to lease.
Market Trends
Union City, NJ spans 1.3 square miles in Hudson County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Union City, NJ runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail space in Union City, NJ asks $281/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Union City, NJ runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Union City, NJ asks $237/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
Union City, NJ has 68,611 residents in 27,442 households. Density runs 52,580 people per square mile. Median household income here is $65,369 and median gross rent $1,489 a month.
68,611
Population
27,442
Households
2.5
Avg Household Size
36
Median Age
28%
College-Educated
77%
High-School Grad
1.3 sq mi
ZIP Area
52,580
Density / Sq Mi
$65,369
Median Household Income
$35,041
Median Earnings
$1,489
Median Rent
$446,800
Median Home Value
Tools
Lease vs Buy Breakeven
At $32.46/SF/Yr lease vs $869/SF buy → buying wins if held > 23.8 years.
At a 3.7% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| West New York | — | $36.34 |
| Weehawken | — | — |
| Guttenberg | — | — |
| North Bergen | — | $31.36 |
Commercial property in Union City, NJ asks $869/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Union City?
Commercial property in Union City, NJ asks an average of $869 per square foot. The 3 most recent recorded sales traded at a median of $371/SF, so asking sits 134% above the achieved median. Retail carries the highest asking price at $281/SF.
How much does it cost to lease commercial space in Union City?
Asking lease rates in Union City, NJ average $32.46 per square foot per year.
Is it cheaper to lease or buy commercial space in Union City?
Buying beats leasing in Union City, NJ if the property is held longer than 23.8 years, comparing $32.46/SF/Yr asking rent with $869/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Union City market data come from?
Realmo compiles Union City, NJ figures from 8 recent recorded sales, 105 active sale listings, 70 active lease listings, 1,439 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 105 active for-sale and 70 active for-lease listings in Union City, NJ. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level, industrial vacancy is reported at Northeast region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
