How Much It Costs To Rent A 2-Bedroom Apartment In Cinnaminson

CINNAMINSON, NJ — How affordable is it to rent a home in Cinnaminson?

Not very affordable, according to a new analysis by the National Low Income Housing Coalition.
The coalition recently released its annual "Out Of Reach" report for 2020, and it shows that you'd have to earn about $32.31 an hour to afford to rent a two-bedroom home in Cinnaminson.

The report ranks ZIP codes by the hourly wage a person would need to earn to afford renting without spending more than 30 percent of their income on housing.

Across New Jersey, renters earn $19.10 an hour, while $29.69 per hour is needed to afford to rent a two-bedroom home.

Residents in the Garden State would have to work 88 hours a week at the minimum wage of $11 an hour to afford even a one-bedroom home, the report says.

New Jersey ranked seventh in the nation in terms of affordability for renters. The most expensive state for housing is Hawaii, followed by California, then Massachusetts.

You can view the full report here.