Out of Reach Rents: NJ Among Top Ten Least Affordable Places to Live

Written By Greater East Orange Tenants Association

New Jersey ranks as one of the top ten least affordable states for renters, according to a report by the Housing and Community Development Network of New Jersey (HCDNNJ).

The "Out of Reach" report reveals that the gap between wages and rent prices continues to widen, making it increasingly difficult for low-income residents to secure affordable housing. With the fair market rent for a two-bedroom apartment significantly outpacing the earnings of minimum wage workers, the housing crisis in New Jersey demands urgent attention.

Key findings include:

  • The hourly wage needed to afford a two-bedroom apartment is $31.96, while the state minimum wage is $14.13.

  • Over half of New Jersey renters are cost-burdened, spending more than 30% of their income on housing.

What Can Be Done?

  • Advocate for policies that increase affordable housing stock.

  • Support tenant rights and fair housing legislation.

  • Promote economic opportunities that boost wages.

For more detailed insights and to learn about potential solutions, read the full article on the HCDNNJ website.

Greater East Orange Tenants Association
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