Lawmakers are weighing a number of issues in trying to address what has become a rental housing crisis for the state, hearing from advocates that rents have risen as much as 50% in the last four years.
According to a national survey of rental trends, the median rent in New Jersey was $2,852 as of March of this year, a 6% increase over the previous year. The increase is the 11th-highest in the country, with Minnesota’s median rent of $1,679 seeing the highest rent hike at over 13% over last year. The national median is $1,987.