New Jersey Rents Among the Highest in the U.S.

It’s no surprise that New Jersey once again ranks as one of the priciest states for renters. In an ever-evolving housing market, rental prices have soared, making it increasingly challenging for residents to find affordable housing.

Breaking Down NJ County by County

Curious about how rental prices vary across different counties in New Jersey? Here’s a glimpse into the highest and lowest average monthly rents:

• Hudson County: Topping the list with an average rent of over $2,500.
• Bergen County: Close behind Hudson with averages just under $2,500.
• Morris County: Averages hover around $2,300.
• Essex County: Expect to pay approximately $2,200 monthly.
• Passaic County: Rent here averages around $2,100.

Counties with More Affordable Rents

While New Jersey is known for its high cost of living, some counties offer slightly more affordable rents:

• Cumberland County: Boasting the lowest average rent at approximately $1,300.
• Salem County: Rent averages around $1,350 monthly.
• Warren County: Generally, you can find rentals for about $1,400.

What Drives High Rents in NJ?

Several factors contribute to the high rental prices in New Jersey, including:

• Proximity to major metropolitan areas like New York City and Philadelphia.
• High demand and limited supply of rental properties.
• Quality of schools and amenities in certain counties.

High rental prices present numerous challenges for both new and long-term residents. Many are forced to relocate to more affordable areas or seek additional sources of income to afford the rising rents.

Stay Updated with Local News

For the latest updates on New Jersey’s housing market and other local news, be sure to follow Cherry Hill News Today on facebook and twitter.