Rent in New Jersey
The median 2-bedroom Fair Market Rent in New Jersey is $1,950/mo, ranking #7 out of 51 states for highest rent. This is $700 above the national median of $1,250/mo. New Jersey has a population of 9.3M. About 36.3% of households rent their homes. Fair Market Rent data covers 11 areas across the state.
Highlights
All 11 Areas in New Jersey
| Area | Studio | 1BR | 2BR | 3BR | Burden | YoY |
|---|---|---|---|---|---|---|
| Jersey City Pop. 19.8M | $2,407 | $2,458 | $2,763 | $3,367 | 34.1% | +20.2% |
| Middlesex-Somerset-Hunterdon Pop. 19.8M | $1,804 | $1,978 | $2,486 | $2,981 | 30.6% | +9.2% |
| Monmouth-Ocean Pop. 19.8M | $1,676 | $1,889 | $2,328 | $3,043 | 28.7% | +21.5% |
| Bergen-Passaic Pop. 19.8M | $1,778 | $2,024 | $2,324 | $2,835 | 28.7% | +22.8% |
| Newark Pop. 19.8M | $1,612 | $1,822 | $2,205 | $2,761 | 27.2% | +15.1% |
| Trenton-Princeton Pop. 383K | $1,344 | $1,545 | $1,950 | $2,338 | 24.3% | - |
| Warren County Pop. 867K | $1,517 | $1,527 | $1,895 | $2,404 | 27.5% | +23.1% |
| Atlantic City-Hammonton Pop. 370K | $1,346 | $1,537 | $1,867 | $2,586 | 27.8% | +11.8% |
| Philadelphia-Camden-Wilmington Pop. 6.2M | $1,397 | $1,520 | $1,810 | $2,170 | 24.3% | +4.2% |
| Cape May County Pop. 370K | $1,320 | $1,366 | $1,792 | $2,396 | 26.7% | - |
| Vineland Pop. 153K | $1,280 | $1,375 | $1,673 | $2,303 | 31.1% | - |
Frequently Asked Questions
The median 2-bedroom Fair Market Rent across New Jersey is $1,950 per month. Rents range from $1,673/mo in Vineland to $2,763/mo in Jersey City. The actual median gross rent statewide is $1,653/mo according to Census data.
New Jersey ranks #7 out of 51 states for highest median Fair Market Rent. The state median 2BR FMR of $1,950/mo is $700 above the national median of $1,250/mo.
The average rent burden across New Jersey is 28.3%, meaning a typical household would spend 28.3% of income on a 2-bedroom at Fair Market Rent. 3 of 11 areas exceed HUD's 30% cost-burden threshold. The statewide median household income is $101,050.
The most affordable area in New Jersey is Vineland with a 2-bedroom Fair Market Rent of $1,673/mo. The median household income there is $64,499.
The most expensive area in New Jersey is Jersey City with a 2-bedroom Fair Market Rent of $2,763/mo. The median household income there is $97,334.
Fair Market Rents represent the 40th percentile of gross rents for standard-quality rental units. State-level income and demographic data comes from the Census Bureau ACS 5-Year estimates. Rent burden is calculated as annual 2BR FMR divided by area median household income.