Nearly one in four renter households across the United States now spends more than half of their income just on rent, a burden that is especially pronounced in coastal states and regions with strong population growth. According to the latest figures from the U.S. Census Bureau’s American Community Survey (ACS) for 2024, Florida stands out as the most rent-burdened state, with over 30% of its renters devoting more than half their income to housing. Nevada, California, and New York follow, all exceeding 26% of renter households facing similarly high rent
Severe Rent Burden in New Jersey
New Jersey ranks among the top 10 most severely rent-burdened states, with 24.8% of renters paying more than half their household income toward housing costs. Median monthly rent in the Garden State remains among the highest nationally, averaging about $1,550, or roughly 33% of the typical renter’s income. Notably, the high cost of rent hits lower-income households the hardest: around 42% of New Jersey renters with incomes below $75,000 spend more than half their income on rent and utilities, a rate that is significantly above the state average.
How New Jersey Compares
Here’s a snapshot of the most recent rankings for severe rent burden:
| State | % of Renters Severely Burdened |
|---|---|
| Florida | 30.1% |
| Nevada | 28.0% |
| California | 27.5% |
| New York | 26.9% |
| Connecticut | 26.2% |
| Hawaii | 25.9% |
| Oregon | 25.0% |
| Rhode Island | 24.8% |
| New Jersey | 24.8% |
| Louisiana | 24.8% |
While New Jersey’s growing economy and relatively high incomes somewhat cushion the blow, the gap between housing costs and incomes continues to challenge renters throughout the state. Limited housing supply and ongoing demand pressure prices upward, particularly in densely populated and highly desirable communities such as those in Ocean County.
Relief is hardest to find for the state’s lowest earners. Over half of renter households with incomes below $50,000 are considered severely rent-burdened—a clear sign that more affordable housing options are urgently needed to ensure every family in New Jersey can find safe and sustainable housing within their means.
The National Context
Nationally, almost half of all renter households spend at least 30% of their income on housing, with nearly one in five renters facing severe rent burdens. As inflation, population shifts, and limited new construction outpace wage growth, the affordability crisis remains a central issue from Toms River to Tampa.census+1
Takeaway for Toms River and Beyond
For families, individuals, and professionals in Toms River and throughout New Jersey, staying informed about rental market trends is critical for financial planning and stability. The severe rent burden many New Jerseyans face underscores the importance of both personal budgeting and supporting thoughtful community planning and housing policy. As local and statewide initiatives strive to close the affordability gap, understanding where the pain points lie can help spark solutions that benefit everyone—renters and homeownersd homeowners alike.