Out of Reach

In order to afford a modest, two-bedroom apartment at fair market rent (FMR) in New Jersey, renters need to earn $28.17 per hour. This is NJ’s 2018 Housing Wage, revealed in a national report released today. The report, Out of Reach: The High Cost of Housing, was jointly released by the National Low Income Housing Coalition (NLIHC), a research and advocacy organization dedicated solely to achieving affordable and decent homes for the lowest income people, and the Housing and Community Development Network of New Jersey (the Network).

Every year, Out of Reach reports on the Housing Wage (the hourly wage a full-time worker must earn to afford a modest and safe rental home without spending more than 30 percent of his or her income on housing costs) for all states and counties in the country. The report highlights the gap between what renters earn and what it costs to afford a home at FMR. This year’s report shows NJ stuck as the sixth most expensive place to rent and housing advocates are urging state leaders not to divert funds needs to create affordable homes. Read More

Links of Interest

Archived Out of Reach Data:

2008          2009          2010          2011          2012          2013          2014          2015          2016          2017