How Much It Costs To Rent A 2-Bedroom Gloucester Twp. Apartment

GLOUCESTER TOWNSHIP, NJ — How affordable is it to rent a home in Moorestown?

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 between $20 and $30 an hour to afford to rent a two-bedroom home in Gloucester Township.

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. Gloucester Township has seven zip codes and multiple parts of the township that have varying costs of living.

In Erial and Sicklerville, renters would have to earn $28.08 an hour. In Blackwood and Clementon, they would have to earn $24.81 an hour. And in Glendora, renters would need to earn $20.77 an hour.

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.