JERSEY CITY, NJ-Newark and Jersey City ranked among the top 20 in a list of the least affordable cities for apartment renters.
The survey ranked Jersey City fourth and Newark 15th among the most expensive locations for rental apartments. The survey was released by Apartment List, a national search engine for apartment listings, according to the Star-Ledger. New York, San Francisco and Boston topped the list.
In Jersey City, approximately 49% of income is required for rent where the median household income is $57,520. In Newark, where the median household income is $35,696, about 35% of that income is required for the average apartment rent
The average listing price for a one-bedroom apartment in Jersey City rose more than 4% to $2,352, last year while the average two-bedroom unit price rose 1.2% to $2,913.
In Newark, one-bedroom listings jumped approximately 5% to $1,040, while two-bedroom rents rose 4.1% to $1,371. See story in the Star-Ledger.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
