Archaeologist Yardenna Alexandre said Monday the discovery is the first find of its kind and gives insight into the way of life at the time of Jesus.
Alexandre describes the home as "small and modest" and likely typical of ones in Nazareth when it was a small Jewish village. The dwelling consists of two rooms, a courtyard and a system for collecting water.
Jesus is believed to have spent most of his life in the town of Nazareth.
The remains were found near the Basilica of the Annunciation, which was built on the site where Christians believe an angel told the virgin Mary that she was going to give birth to Jesus.
Some information for this report was provided by AP, AFP and Reuters.