The Housing and Community Development Network of New Jersey, says the hourly wage a family must earn working 40 hours/week, 52 weeks a year to afford the rent and utilities for a safe and modest home in the private housing market, is $24.54.
They report this is an increase of 56% since 2000.
New Jersey is the fourth-most expensive state for renters to live in, trailing only Hawaii, California and Maryland. Washington DC is also more expensive than NJ.
The information comes from a national study, “Out of Reach 2011,” prepared by the National Low Income Housing Coalition, a Washington D.C.-based housing policy organization. It provides other housing affordability data for every state, metropolitan area, combined non-metropolitan area, and county in the country.More information iand links are available from The Housing and Community Development Network of New Jersey at http://hcdnnj.memberclicks.net/index.php?option=com_content&view=article &id=577:out-of-reach&catid=21:policy-main&Itemid=125