If you’ve ever tried to go apartment-hunting in New Jersey, you’ll know it’s not easy. The census bureau released a new report backing that up — showing that the housing market tightened after the 2009 foreclosure crisis. As rental costs rose, states in the Northeast had rental vacancy rates of less than 4%. New Jersey’s, to be exact, was only 3.6%, as of last year.

The low vacancy rate in New Jersey explains why rent has skyrocketed recently — and made housing inaccessible. With a low vacancy rate, prices tend to be higher. In Jersey City, the average rent for an apartment was $3,300, as of June 2022.

“The vacancy rate declined nationally from 2009 to 2021, from 14.5%  to 10.8%,” according to Robert R. Callis.