Posted: Monday, 14 April 2008 7:29AM
New Jersey 5th Most Expensive for Renters
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TRENTON, NJ (AP) -- New Jersey is the fifth most expensive state for renters, making it difficult for many in commonplace jobs to find decent housing, according to a new report from an affordable housing advocacy group.
The report being released Monday by the Housing & Community Development Network of New Jersey, comes as Gov. Jon S. Corzine looks to cut property tax relief for tenants.
According to the report, a person earning $16.45 per hour - a bit less than the state's average hourly wage - would have to work 54 hours a week to afford a two-bedroom apartment at fair market rent.
It also found a person earning minimum wage - $7.15 per hour - would have to work 124 hours a week to afford the same apartment.
The advocacy group said its research demonstrates numerous occupations - including preschool teachers, child care workers, home health aides, police and fire dispatchers, security guards, school bus drivers and social workers - don't generate enough income to afford decent housing.
New Jersey has the nation's highest property taxes, at $6,800 per homeowner. Tenants don't directly pay property taxes, but are presumed to do so through their rent payments.
Under Corzine's $33 billion budget proposal, non-senior citizen renters would see their state-funded property tax rebates cut from as much as $350 to $80. That would save the state $127 million and affect 715,000 tenants.
Senior citizen tenants, though, would continue to get rebates averaging $690.
However, Corzine's spending proposal would also boost rental assistance for low-income residents by $15 million to $32.5 million.
The rental assistance program is currently helping 2,400 families.
Corzine has also pledged to build 100,000 affordable homes within 10 years. And the advocacy group backs Corzine's rental assistance increase as well as mortgage foreclosure prevention bills proposed by legislators. |
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