Report: New Jersey ranked one of the worst states for renters
Renters in New Jersey are using nearly 31% of their income to pay rent, according to a ConsumerAffairs report.
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4h agoPaying rent in New Jersey? The Garden State is ranked one of the worst for renters - 10th to be exact, according to a ConsumerAffairs report.
The report says New Jersey residents are using nearly 31% of their total income to pay rent.
ConsumerAffairs compared each state on cost, availability and tenant security to rank the best (and worst) states for renters in 2023.
Some of the biggest challenges in New Jersey, according to the report, are the high cost of living and the landlord-tenant laws that some believe favor landlords.
In Newark alone, rent averages $1,800 a month. And for the rest of the state, renters are paying just over $1,400 with an average household income of around $89,000.
The best states for renters are North Dakota, South Dakota and Iowa, according to the report. California, Massachusetts and Nevada are the worst states for renters.
The report says Florida renters put the highest percentage of their income toward rent (34.6%), while North Dakota and South Dakota renters put the lowest (25.1%).
Best states for renters:
- North Dakota
- South Dakota
- Iowa
- Kansas
- Alabama
- Minnesota
- Indiana
- Wisconsin
- Missouri
- Oklahoma
Worst states for renters:
- California
- Massachusetts
- Nevada
- Hawaii
- New York
- Louisiana
- Florida
- Connecticut
- Alaska
- New Jersey
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