It's no secret that many Americans are forgoing homeownership in favor of renting. In 2020, renters in the U.S. occupied 43 million housing units.
The Stacker team looked at data from a United States Census survey that revealed an estimated 43,378,800 renter-occupied homes in the United States as of 2017, which makes up 36.1% of all households in the country. In 2019, renting was more affordable than buying a median-priced home in 59% of the counties; in 2021, the opposite was true: Owning was more affordable than renting in 63% of U.S. counties.
Stacker compiled a list of counties in New Jersey where people spend the highest percent of income on rent using data from the U.S. Census Bureau. Of course, saving money by owning a home is unattainable for many Americans who don't have savings that could cover a down payment, those who are denied a mortgage, or both. Keep reading to see where in your home state most of people's take-home pay goes to their monthly rent.
You may also like: Most popular boy names in the 60s in New Jersey
You may also like: Coldest Octobers in New Jersey since 1895
- Median percent of income spent on housing: 20.4%
--- Percent of households spending <20% of income on housing: 43.3%
--- Percent of households spending >30% of income on housing: 30.0%
- Total occupied households: 47,175
- Median household income: $115,379
- Median monthly housing cost: $1,957
- Median percent of income spent on housing: 20.7%
--- Percent of households spending <20% of income on housing: 42.3%
--- Percent of households spending >30% of income on housing: 31.5%
- Total occupied households: 118,193
- Median household income: $113,611
- Median monthly housing cost: $1,958
- Median percent of income spent on housing: 21.2%
--- Percent of households spending <20% of income on housing: 38.8%
--- Percent of households spending >30% of income on housing: 32.7%
- Total occupied households: 41,587
- Median household income: $81,307
- Median monthly housing cost: $1,438
- Median percent of income spent on housing: 21.3%
--- Percent of households spending <20% of income on housing: 42.4%
--- Percent of households spending >30% of income on housing: 31.6%
- Total occupied households: 181,884
- Median household income: $115,527
- Median monthly housing cost: $2,047
- Median percent of income spent on housing: 21.7%
--- Percent of households spending <20% of income on housing: 40.0%
--- Percent of households spending >30% of income on housing: 32.0%
- Total occupied households: 104,908
- Median household income: $87,283
- Median monthly housing cost: $1,578
You may also like: Most popular girl names in the 70s in New Jersey
You may also like: Trip and fall accidents on NYC construction sites: Who can be held liable?
- Median percent of income spent on housing: 21.8%
--- Percent of households spending <20% of income on housing: 40.3%
--- Percent of households spending >30% of income on housing: 35.5%
- Total occupied households: 23,933
- Median household income: $66,842
- Median monthly housing cost: $1,212
- Median percent of income spent on housing: 21.8%
--- Percent of households spending <20% of income on housing: 40.3%
--- Percent of households spending >30% of income on housing: 32.8%
- Total occupied households: 166,391
- Median household income: $87,416
- Median monthly housing cost: $1,587
- Median percent of income spent on housing: 21.9%
--- Percent of households spending <20% of income on housing: 39.5%
--- Percent of households spending >30% of income on housing: 32.2%
- Total occupied households: 53,322
- Median household income: $94,520
- Median monthly housing cost: $1,725
- Median percent of income spent on housing: 22.4%
--- Percent of households spending <20% of income on housing: 38.2%
--- Percent of households spending >30% of income on housing: 36.3%
- Total occupied households: 235,362
- Median household income: $99,733
- Median monthly housing cost: $1,865
- Median percent of income spent on housing: 22.5%
--- Percent of households spending <20% of income on housing: 37.3%
--- Percent of households spending >30% of income on housing: 35.6%
- Total occupied households: 285,005
- Median household income: $89,533
- Median monthly housing cost: $1,680
You may also like: Where people in New Jersey are moving to most
You may also like: Highest-rated wineries in New Jersey by visitors
- Median percent of income spent on housing: 22.7%
--- Percent of households spending <20% of income on housing: 36.4%
--- Percent of households spending >30% of income on housing: 37.7%
- Total occupied households: 339,856
- Median household income: $101,144
- Median monthly housing cost: $1,914
- Median percent of income spent on housing: 22.9%
--- Percent of households spending <20% of income on housing: 36.8%
--- Percent of households spending >30% of income on housing: 35.4%
- Total occupied households: 129,936
- Median household income: $81,057
- Median monthly housing cost: $1,550
- Median percent of income spent on housing: 23.3%
--- Percent of households spending <20% of income on housing: 36.5%
--- Percent of households spending >30% of income on housing: 37.1%
- Total occupied households: 187,383
- Median household income: $70,451
- Median monthly housing cost: $1,369
- Median percent of income spent on housing: 23.9%
--- Percent of households spending <20% of income on housing: 37.1%
--- Percent of households spending >30% of income on housing: 38.4%
- Total occupied households: 40,171
- Median household income: $67,074
- Median monthly housing cost: $1,334
- Median percent of income spent on housing: 24.6%
--- Percent of households spending <20% of income on housing: 37.8%
--- Percent of households spending >30% of income on housing: 37.0%
- Total occupied households: 226,160
- Median household income: $70,909
- Median monthly housing cost: $1,455
You may also like: Most popular girl names in the 60s in New Jersey
You may also like: Counties with the oldest homes in New Jersey
- Median percent of income spent on housing: 24.6%
--- Percent of households spending <20% of income on housing: 33.0%
--- Percent of households spending >30% of income on housing: 40.8%
- Total occupied households: 190,101
- Median household income: $80,198
- Median monthly housing cost: $1,646
- Median percent of income spent on housing: 25.7%
--- Percent of households spending <20% of income on housing: 35.6%
--- Percent of households spending >30% of income on housing: 40.8%
- Total occupied households: 50,729
- Median household income: $54,149
- Median monthly housing cost: $1,159
- Median percent of income spent on housing: 25.9%
--- Percent of households spending <20% of income on housing: 31.9%
--- Percent of households spending >30% of income on housing: 41.9%
- Total occupied households: 258,591
- Median household income: $71,189
- Median monthly housing cost: $1,539
- Median percent of income spent on housing: 26.7%
--- Percent of households spending <20% of income on housing: 28.5%
--- Percent of households spending >30% of income on housing: 45.1%
- Total occupied households: 165,429
- Median household income: $69,688
- Median monthly housing cost: $1,552
- Median percent of income spent on housing: 26.8%
--- Percent of households spending <20% of income on housing: 31.7%
--- Percent of households spending >30% of income on housing: 43.1%
- Total occupied households: 99,850
- Median household income: $62,110
- Median monthly housing cost: $1,385
You may also like: Counties with the oldest homes in New Jersey
You may also like: Coldest Januarys in New Jersey since 1895
- Median percent of income spent on housing: 28.6%
--- Percent of households spending <20% of income on housing: 28.8%
--- Percent of households spending >30% of income on housing: 45.9%
- Total occupied households: 285,908
- Median household income: $61,510
- Median monthly housing cost: $1,467
