Out of Reach
In order to afford a modest two-bedroom home in the Garden State, a family must earn an hourly wage of $31.96, far more than the state’s average hourly wage of $19.38 or the current $12 per hour minimum wage. That means, at the mean wage, an individual would have to work 66 hours a week to afford a two-bedroom apartment at Fair Market Rent (FMR) or 107 hours per week for a minimum wage worker. Read More Links of Interest
Archived Out of Reach Data: 2008 2009 2010 2011 2012 2013 2014 2015 |
According to an annual, national report, New Jersey is the sixth most expensive location for renters. The report, Out of Reach, 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).
