The cost of renting an apartment in NJ

Do you want to rent an apartment in New Jersey? You have come to the right place to find out everything there is to know about the cost of renting an apartment in NJ. More and more people are moving into New Jersey and this definitely had an influence on the renting cost, however, NJ has many upsides that it is worth living in. When choosing a reliable moving company, Short Hills movers can definitely assist you.

What does NJ have to offer?

New Jersey is home to over nine million people, which is clear evidence that life in NJ is thriving. A plethora of opportunities for jobs and making new friends, and raising your family rise in New Jersey. Its vicinity to New York is definitely a plus. It is less than 2 hours away from the Big Apple, which means that you can go to New York every other weekend on a trip, or like approximately one million residents do, commute to work. New Jersey is divided into three regions geographically, Nothern Jersey, Central Jersey, and South Jersey. If you consider renting an apartment in NJ Central or South you will be able to enjoy the Jersey Shore that goes along the Atlantic Coast. If you do not like the shore, rest assured that Hudson and Delaware’s rivers go through New Jersey so you will be able to walk down the riversides.

What you should know about New Jersey

Population

New Jersey has a population of over nine million people as we already stated. The median age is 39.8 which means that the young population is dominant. You will meet a lot of new people, and make great memories in NJ, once you rent an apartment here.

Median household income

If you have been wondering about the household income it is high at approximately 80,000 dollars. This income is significantly higher than in the rest of the United States, where the median house income is roughly about 60, 000 dollars. As soon as you find a job, you can explore NJ and nearby New York, swim in the Atlantic ocean and visit each and every of the numerous national parks in New Jersey.

Poverty rate

With 10.7 percent of poverty rate, you will be safe in New Jersey as opposed to 13.4 percent which is the national average. With the poverty rate this low, you will not have any issues renting an apartment in NJ. While the apartments may be costly, with a proper job that you can certainly find in New Jersey, as it has plenty of opportunities for employment, renting an apartment will be easy.

Best professions and industries

The most lucrative industries in New Jersey are

  • securities, commodities, funds, trusts and other financial investments, followed by
  • software publishing,
  • Internet publishing, and broadcasting.

If you are a part of these industries, then you should definitely pack your stuff and move to NJ. Among the highest paying jobs are also physicians and surgeons followed by chief executives and legislators. Make an appointment with movers Glen Rock and enjoy your life in New Jersey. No matter what skills do you have and in which industry you work in, you will find a lot of opportunities for employment here.

four women and two men in an office engaged in a discussion
If you are in the business of Internet publishing or software publishing, then you are in for a treat as these are the highest paying industries in NJ

The cost of renting an apartment in NJ

With the average property value of 334, 900 dollars, renting an apartment in NJ may be a better option. The percent of people owning their own home in New Jersey is approximately 63 percent. While this is more than half, the percent is still not as large as you would expect it to be. Renting an apartment has its advantages and disadvantages, however, it is an only option again the high cost of properties. On one hand, you do not have to give a large amount of money to buy a house or get a loan for the rest of your life. But on the other hand, renting an apartment means that you are giving money every month, money that will never come back.

a bed, and two pillows white and black in a living room. Two chairs and a carpet next to bed.
Renting an apartment in NJ has its advantages and disadvantages, however, once you have settled in you will be able to explore NJ and enjoy your life.

The most expensive places in NJ to rent an apartment

Here we will list the largest city of New Jersey with the average cost of monthly rent that you need to pay for a studio.

  • Newark – $1642
  • Jersey City – $1851
  • Paterson – $1798
  • Elizabeth – $1769
  • Clifton – $2130

It seems to be the best to avoid Clifton and Jersey City, and that Newark is the most tempting city. With the difference of almost $500, which cannot be neglected, you will save a lot of money. If you are moving with your family, you should check out the top cities for families in NJ.

metal money, money bills of 20 dollars and a black calculator on a table
Clifton is the most expensive place where you can rent an apartment in NJ, hence if you are considering to move to Clifton, start saving money.

The cheapest places in NJ to rent an apartment

Here we have found the cheapest places in New Jersey where you can rent a home and save money as well:

  • Audubon – $929
  • Stratford – $945
  • Barrington – $906
  • Somerdale – $910

This just goes on to prove that rent in New Jersey does not have to hurt your wallet. With the rent of less than $1000 a month, you can truly experience all the benefits of this area.

Being an adult may seem to be perfect, but just for a little while.  Being able to do what your heart desires often means that you have to pay for what your heart desires on your own. Plus a lot of things can go wrong when moving. If you cannot afford a house than you can rent a house, and save money for other things in life. Renting an apartment in NJ is not a piece of cake, but with little effort, you can find what you need and at an affordable price. Good luck!

 

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