Report: Many folks need more than 1 job to afford a NJ apartment

New Jersey continues to be one of the nation's most expensive spots for renters, according to a yearly state-by-state report.

With the goal of spending no more than 30% of income on rent, workers would need to earn more than $38 per hour in order to afford a modest, two-bedroom apartment in the Garden State, finds the Out of Reach report published by the National Low Income Housing Coalition and the Housing and Community Development Network of New Jersey.

That paves the way for a significant gulf between wages and rents, as the average worker in New Jersey earns $23.70 per hour.

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The report considers New Jersey to be the seventh most expensive place for renters. Affordability is even tougher in spots like New York, California, and Hawaii.

"We know that people deserve and need to have a safe, affordable place to call home, and simply, here in NJ, there have just not been enough choices for people to make that dream a reality," said Staci Berger, the Network's president and CEO.

And a higher minimum wage isn't the solution, advocates suggest. At New Jersey's current minimum wage of more than $15, one would have to work 84 hours per week to afford a one-bedroom apartment, or 101 hours per week for a two-bedroom apartment.

"Hudson, Middlesex, Somerset, and Hunterdon are the most expensive places to live," said Arnold Cohen, the Network's senior policy advisor. "But even in places in southern New Jersey where apartments cost less, people are earning less. So places like Cape May and Gloucester are the least affordable for a renter."

Advocates are pushing for long-term federal investments in affordable housing. Locally in New Jersey, the Network wants to see an increase in the eviction filing fee. It's currently at $50, and the Network suggests that increasing it to $150 could serve as a disincentive to landlords to evict tenants.

The Network also wants the state to expand the realty transfer fee — the primary funding source for the Affordable Housing Trust Fund — in a way that collects more revenue from the sale of very expensive homes.

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