Only 34 Per 100: New Jersey’s Affordable Housing Gap Revealed

A new report has found that New Jersey has an extreme shortage of affordable housing, with only 34 homes available for every 100 extremely low-income renter households.

The findings were released Friday by the Housing and Community Development Network of New Jersey (the Network) and the National Low Income Housing Coalition. The report said that no state has enough affordable rental housing for its lowest-income renters; an estimated 7.2 million affordable rental homes are needed nationwide.

New Jersey is just slightly below the national average of 35 per 100. Some areas with the most severe shortages are Las Vegas, Nevada and Orlando, Florida, which only have 13 per 100. Around 72% of renter households in New Jersey are severely cost-burdened, meaning rent takes up most of their budget.

“With Governor Sherrill set to deliver her first budget address next week, this report makes the stakes unmistakably clear: New Jersey does not have enough affordable homes for the families who need them most,” said Staci Berger, president and chief executive officer of the Network.

New Jersey housing advocates are calling on Gov. Mikie Sherrill to fully fund the Affordable Housing Trust Fund, where $125 million in funds were diverted last year and only 36% of those funds ($45 million) were restored. Sherrill has said she would not divert more funds—but advocates are calling on her to restore funding.

“Three-quarters of extremely low-income renters in our state pay more than half of their income on rent,” said Matthew Hersh, vice president of policy and advocacy for the Network. “Fully funding the [Affordable Housing Trust Fund] and strengthening neighborhood revitalization efforts will create homes, generate jobs, and ensure our communities can thrive.”