Essex County New Jersey Residential Rent and Rental Statistics
The median monthly gross residential rent in Essex County NJ was $1,233 in 2019 according to the Census ACS survey.1 Average gross rent in Essex County was $1,238 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Essex County median and average rent data will be released in September of 2021.
Data is also available below for Essex County rental vacancy rates, Essex County rent as a percent of median income and the fraction of renters in Essex County.
Real Gross Rent in Essex County New Jersey (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| New Jersey Median Gross Rent | $1,376 | +1.18% | +5.60% |
| Essex County NJ Median Gross Rent | $1,233 | +2.07% | +7.78% |
Essex County NJ Real Gross Rent Trends
At $1,233, real median gross rent in Essex County was at its highest level in 2019 since the series began in 2005. At $1,238, real average gross rent in Essex County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Essex County NJ Median, Essex County NJ Average, New Jersey Median, US Median
Real Gross Rent History for Essex County
| Date | US Median |
New Jersey Median |
Essex County NJ Median |
Essex County NJ Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,376 | $1,233 | $1,238 |
| 2018 | $1,077 | $1,360 | $1,208 | $1,219 |
| 2017 | $1,043 | $1,324 | $1,179 | $1,161 |
| 2016 | $1,027 | $1,303 | $1,144 | $1,153 |
| 2015 | $1,017 | $1,288 | $1,140 | $1,148 |
| 2014 | $986 | $1,269 | $1,137 | $1,125 |
| 2013 | $953 | $1,233 | $1,089 | $1,095 |
| 2012 | $940 | $1,221 | $1,063 | $1,068 |
| 2011 | $941 | $1,226 | $1,118 | $1,102 |
| 2010 | $955 | $1,245 | $1,107 | $1,117 |
| 2009 | $960 | $1,263 | $1,135 | $1,150 |
| 2007 | $927 | $1,205 | $1,095 | $1,094 |
| 2005 | $910 | $1,169 | $1,065 | $1,035 |
Essex County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Essex County New Jersey was 3.56% according to Census ACS data.
Rental Vacancy Rate in Essex County New Jersey
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| New Jersey | 4.23% | -0.19% | -0.79% |
| Essex County NJ | 3.56% | -0.84% | -3.38% |
Trends in Essex County NJ Rental Vacancy Rate
The rental vacancy rate in Essex County peaked in 2011 at 10.75%. Since then it has fallen by 7.19% to 3.56%. Data records for this series originated in 2005.
Rental Vacancy Rate: Essex County NJ, New Jersey, US
Historical Rental Vacancy Rate data for Essex County
| Date | US | New Jersey | Essex County NJ |
|---|---|---|---|
| 2019 | 5.97% | 4.23% | 3.56% |
| 2018 | 6.15% | 4.42% | 4.40% |
| 2017 | 6.18% | 4.45% | 5.14% |
| 2016 | 5.89% | 5.02% | 6.94% |
| 2015 | 5.85% | 5.65% | 7.77% |
| 2014 | 6.32% | 6.09% | 9.15% |
| 2013 | 6.49% | 6.18% | 9.34% |
| 2012 | 6.77% | 5.96% | 8.78% |
| 2011 | 7.40% | 6.99% | 10.75% |
| 2010 | 8.17% | 7.51% | 9.62% |
| 2009 | 8.43% | 7.59% | 10.25% |
| 2007 | 7.87% | 6.30% | 10.18% |
| 2005 | 7.74% | 6.43% | 5.54% |
Rent as a Fraction of Income
Using median household income data for Essex County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Essex County, median monthly gross rent as a fraction of median household income was 22.89% in 2019 according to the ACS.
Essex County New Jersey Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| New Jersey | 19.26% | -0.36% | -0.35% |
| Essex County NJ | 22.89% | +0.42% | -1.27% |
Trends in Essex County NJ Rent as a Fraction of Income
The fraction of median Essex County household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 24.79%. Since then it has fallen by 1.89% to 22.89%.
Fraction of Income towards Rent: Essex County NJ, New Jersey, US
Historical Data for Annual Rent as a Fraction of Income in Essex County New Jersey
| Date | US | New Jersey | Essex County NJ |
|---|---|---|---|
| 2019 | 20.03% | 19.26% | 22.89% |
| 2018 | 20.50% | 19.61% | 22.48% |
| 2017 | 20.13% | 19.24% | 22.70% |
| 2016 | 20.43% | 19.61% | 24.16% |
| 2015 | 20.63% | 20.17% | 24.79% |
| 2014 | 20.89% | 20.06% | 23.60% |
| 2013 | 20.78% | 20.03% | 23.14% |
| 2012 | 20.65% | 19.77% | 23.50% |
| 2011 | 20.70% | 20.19% | 24.35% |
| 2010 | 20.50% | 19.75% | 22.70% |
| 2009 | 20.12% | 19.46% | 22.10% |
| 2007 | 18.66% | 18.37% | 20.91% |
| 2005 | 18.89% | 18.19% | 20.67% |
Renter Fraction in Essex County New Jersey
You can calculate the renter fraction in Essex County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Essex County as a fraction of total Essex County households. In 2019 55.52% of households were renters according to Census ACS data.
Essex County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| New Jersey | 36.65% | +0.63% | -0.12% |
| Essex County NJ | 55.52% | +0.36% | -1.78% |
Trends in the Essex County NJ Renter Fraction
The Essex County household renter fraction peaked in in 2015 at 57.70% and is now 2.18% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Essex County NJ, New Jersey, US
History of Essex County Renter Fraction
| Date | US | New Jersey | Essex County NJ |
|---|---|---|---|
| 2019 | 35.89% | 36.65% | 55.52% |
| 2018 | 36.05% | 36.02% | 55.16% |
| 2017 | 36.13% | 36.19% | 54.76% |
| 2016 | 36.88% | 36.77% | 57.30% |
| 2015 | 36.97% | 36.98% | 57.70% |
| 2014 | 36.90% | 36.74% | 56.30% |
| 2013 | 36.50% | 35.95% | 55.07% |
| 2012 | 36.09% | 34.93% | 54.79% |
| 2011 | 35.42% | 34.95% | 55.01% |
| 2010 | 34.65% | 33.59% | 53.65% |
| 2009 | 34.13% | 33.86% | 53.76% |
| 2007 | 32.80% | 32.73% | 52.07% |
| 2005 | 33.10% | 32.71% | 53.29% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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