New Jersey (NJ) has the
5th highest rent in the country out of 56 states and territories. The Fair Market Rent in New Jersey
$1,260 for a 2-bedroom apartment in
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
to $1,958 for a 2-bedroom unit in
Jersey City, NJ HUD Metro FMR Area.
For FY 2021, the Jersey City, NJ HUD Metro FMR Area (Hudson County) rent for a studio or efficiency is $1,550 per month and $2,655 per month to rent a house or an apartment with 4 bedrooms.
The average Fair Market Rent for a 2-bedroom home in New Jersey is $1,552 per month.
Approximately 15% of Americans qualify for some level of housing assistance. The population in
New Jersey is around 8,960,150 people. So, there are around 1,344,023 people in New Jersey who could be receiving housing benefits from the HUD.
Click on your region in the list below or on the map to see a more detailed break down of rental prices.
What is Fair Market Rent?
Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in New Jersey.
Fair Market Rent is the 40th-percentile of typical rentals in a given region.