#7
New Jersey
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State Facts
Minimum Wage
$8.60
Average Renter Wage
$18.21
2-Bedroom Housing Wage
$28.17
Number of Renter Households
1,147,220
Percent Renters
36%
Affordable Rent for Low Income Households
Fair Market Rent
Working at
minimum wage
$8.60/hr
Each week you
have to work
107HOURS!
To afford a modest
1 bedroom
rental home at
Fair Market Rent
Compare Jurisdictions
| Number of Households | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| Total | 3,195,014 | 101,083 |
| Renter | 1,147,220 | 33,290 |
| Percent Renters | 36% | 33% |
| Housing Wage | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| Zero-Bedroom | $20.00 | $17.12 |
| One-Bedroom | $23.05 | $19.62 |
| Two-Bedroom | $28.17 | $25.23 |
| Three-Bedroom | $36.16 | $33.35 |
| Four-Bedroom | $41.61 | $38.17 |
| Fair Market Rent | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| Zero-Bedroom | $1,040 | $890 |
| One-Bedroom | $1,199 | $1,020 |
| Two-Bedroom | $1,465 | $1,312 |
| Three-Bedroom | $1,880 | $1,734 |
| Four-Bedroom | $2,164 | $1,985 |
| Annual Income Needed to Afford | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| Zero-Bedroom | $41,610 | $35,600 |
| One-Bedroom | $47,945 | $40,800 |
| Two-Bedroom | $58,603 | $52,480 |
| Three-Bedroom | $75,214 | $69,360 |
| Four-Bedroom | $86,542 | $79,400 |
| Minimum Wage | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| Minimum Wage | $8.60 | $8.60 |
| Rent Affordable at Minimum Wage | $447 | $447 |
| Work Hours/Week at Minimum Wage | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| Zero-Bedroom | 93 | 80 |
| One-Bedroom | 107 | 91 |
| Two-Bedroom | 131 | 117 |
| Three-Bedroom | 168 | 155 |
| Four-Bedroom | 194 | 178 |
| Renter Wage | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| Estimated Mean Renter Wage | $18.21 | $11.27 |
| Rent Affordable at Mean Renter Wage | $947 | $586 |
| Work Hours/Week at Mean Renter Wage | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| Zero-Bedroom | 44 | 61 |
| One-Bedroom | 51 | 70 |
| Two-Bedroom | 62 | 90 |
| Three-Bedroom | 79 | 118 |
| Four-Bedroom | 91 | 135 |
| Supplemental Security Income (SSI) Payment | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| SSI Monthly Payment | $781 | $781 |
| Rent Affordable to SSI Recipient | $234 | $234 |
| Income Levels | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| 30% of Area Median Income (AMI) | $28,186 | $21,480 |
| Estimated Renter Median Household Income | $44,943 | $32,216 |
| Rent Affordable at Different Income Levels | New Jersey | Atlantic City-Hammonton MSA |
|---|---|---|
| 30% of Area Median Income (AMI) | $705 | $537 |
| Estimated Renter Median Household Income | $1,124 | $805 |
*50th percentile FMR area (See Appendix B of full book for more information).
†Renter wage data not available.
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