Out of Reach
According to this year's annual, national report on rental affordability, New Jersey is the fifth most expensive state to rent a home; only Hawaii, California, New York, and Maryland are less affordable as well as Washington, DC which is counted separately. In order to afford a modest two-bedroom home in the Garden State, a family must earn an hourly wage of $26.52, far more than the state’s average hourly wage of $16.98 or the $8.38 minimum wage
The report, Out of Reach 2016, 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: