According to the annual, national report released today, New Jersey is the fifth most expensive location in the nation to rent a two bedroom apartment; only Hawaii, California, and New York are less affordable. In order to afford a modest two-bedroom home in the Garden State, a family must earn an hourly wage of $25.17, far more than the state’s average hourly wage of $16.92.
The report, Out of Reach 2015, is a national study by the National Low Income Housing Coalition (NLIHC), a Washington, D.C.-based housing policy organization. The report provides the Housing Wage and other housing affordability data for every state, metropolitan area, combined non metropolitan area, and county in the country. Read more here.
Links of Interest:
Archived Out of Reach Data:
2008 2009 2010 2011 2012 2013 2014