Fifty-Three Percent of NJ Workers Can’t Afford Rent
N.J.'s rents found unaffordable for state's low-income tenants:
"You have heard a lot about the affordable housing crisis caused by the skyrocketing cost of homeownership. However, just as important is the housing crisis for renters, who make up one-third of all households in New Jersey," said Susan Holman James, Housing Network president.
"Over half of the workers in New Jersey cannot afford to rent a modest two-bedroom apartment on their salary." Fifty-Three percent of the renters in the state cannot afford rent according to a report, "Out of Reach," compiled by the nonprofit Housing and Community Development Network of New Jersey.
Overall, New Jersey ranks behind only California, Massachusetts, and Hawaii as the most expensive state in the nation for renters.
"As a part of his affordability agenda, Governor Corzine has set a statewide goal to create or preserve 100,000 units of housing that are affordable for low- and middle-income families over the next 10 years. Moreover, a key part of his property tax plan will provide additional direct property tax relief to renters, as well as homeowners."
The Housing Network is supporting legislation sponsored by Assemblywoman Bonnie Watson Coleman (D-Mercer) that would require that 25 percent of housing built by cities and towns meet state Council on Affordable Housing obligations and be set aside for low-income families. The bill is A1343.
Note: Neither the article nor Housing Network’s report explains where the 53% of workers unable to afford rent, live. New Jersey does have a State Rental Assistance Program (SRAP) in addition to the Federal Section 8 program. Perhaps that helps to explain in part, the disconnect.
New Jersey Cost of Living
"You have heard a lot about the affordable housing crisis caused by the skyrocketing cost of homeownership. However, just as important is the housing crisis for renters, who make up one-third of all households in New Jersey," said Susan Holman James, Housing Network president.
"Over half of the workers in New Jersey cannot afford to rent a modest two-bedroom apartment on their salary." Fifty-Three percent of the renters in the state cannot afford rent according to a report, "Out of Reach," compiled by the nonprofit Housing and Community Development Network of New Jersey.
Overall, New Jersey ranks behind only California, Massachusetts, and Hawaii as the most expensive state in the nation for renters.
"As a part of his affordability agenda, Governor Corzine has set a statewide goal to create or preserve 100,000 units of housing that are affordable for low- and middle-income families over the next 10 years. Moreover, a key part of his property tax plan will provide additional direct property tax relief to renters, as well as homeowners."
The Housing Network is supporting legislation sponsored by Assemblywoman Bonnie Watson Coleman (D-Mercer) that would require that 25 percent of housing built by cities and towns meet state Council on Affordable Housing obligations and be set aside for low-income families. The bill is A1343.
Note: Neither the article nor Housing Network’s report explains where the 53% of workers unable to afford rent, live. New Jersey does have a State Rental Assistance Program (SRAP) in addition to the Federal Section 8 program. Perhaps that helps to explain in part, the disconnect.
New Jersey Cost of Living
