Out of Reach

According to an annual, national report, New Jersey is the fifth most expensive state 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).

In order to afford a modest two-bedroom home in the Garden State, a family must earn an hourly wage of $28.86, far more than the state’s average hourly wage of $18.68 or the current $8.85 minimum wage. That means, at the mean wage, an individual would have to work 62 hours a week to afford a two-bedroom apartment at Fair Market Rent (FMR) or 130 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          
2016          2017          2018