New Jersey (NJ) has the
5th highest rent in the country out of 56 states and territories. The Fair Market Rent in New Jersey
ranges from
$1,470 for a 2-bedroom apartment in
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
to $2,088 for a 2-bedroom unit in
Jersey City, NJ HUD Metro FMR Area.
For FY 2023, the Jersey City, NJ HUD Metro FMR Area (Hudson County) rent for a studio or efficiency is $1,765 per month and $2,805 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 $1,671 per month.
Approximately 15% of Americans qualify for some level of housing assistance. The population in
New Jersey is around 4,575,332 people. So, there are around 686,300 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.
Learn more
New Jersey Fair Market Rent for 2023