New Jersey Top 10 on High Rent Survey
If you live in New Jersey, you know how expensive it is to buy or rent here. If you have enough money to buy a house, you still have to…
A “for rent” sign is posted in front of a home. The cost of shelter remains high.
(Photo by Joe Raedle/Getty Images)If you live in New Jersey, you know how expensive it is to buy or rent here. If you have enough money to buy a house, you still have to deal with other major expenses. This includes sky-high property taxes. New Jersey has the highest property taxes in the United States.
If you don’t have enough money to purchase a house, you’re forced to rent an apartment or house. That route is also a costly way to live.
NJ's High Rent is Top Ten in the Country
According to a new survey by market research panel Ipsos iSay, New Jersey is in the top ten of the most expensive states to rent this year.
In 2025, New Jersey is sixth on the list of those having difficulty paying the high cost of their lease. The poll reveals that the average monthly rent in New Jersey is well over two grand at $2,337.
Unfortunately, the high rental costs are not the only concern NJ residents have to deal with.
More than half of us agree that the rent is too high, and this is one of the main causes of homelessness. One-third of us are panicked about the possibility of being homeless.
To support the study, I had a conversation with my Gen Z kids and their friends. They’re halfway through their undergraduate education, and based on the price of homes right now, they all agree that owning a home is going to be extremely difficult, if not impossible.
The survey says that more than 50% of those who rent also believe they may never be able to afford their own home. They’re unable to save for a down payment when their monthly income is being spent on their high rent.
CoreLogic's most recent home-price analysis reports that home prices rose 3.3% from January 2024 to January 2025. It forecasts that price growth will continue, with an increase of 3.6% by January 2026.
However, there are some positive attitudes. The survey found more optimism from men than women. Despite the kids I spoke with, Gen Z is the most hopeful of all, with 48% of them “seeing a path the home ownership despite economic barriers.”
According to the survey, the main concerns of New Jerseyans beyond housing costs are high property taxes and high mortgage interest rates. Many believe that even if they can purchase a home, they are concerned about losing it by being foreclosed upon.
If you’re thinking about leaving New Jersey to save on high rent, there are five states you should avoid. There are a handful of states or areas whose average rent is higher than New Jersey's. They include the District of Columbia, California, Hawaii, New York, and Massachusetts.
The cheapest places to live regarding rent are Iowa, South Dakota, Arkansas, North Dakota, and Oklahoma.
