A new poll confirms what so many New Jerseyans currently feel and experience – that housing here is becoming increasingly unaffordable.

Rutgers-Eagleton collaborated with the Housing and Community Development Network of New Jersey on the poll. The survey engaged 1,058 adults statewide from April 1–10.

Key findings include:

• Half or more of New Jerseyans say housing costs are not affordable –
  • • 33% not very
    • 18% not at all
• As for the blame/cause –
  • • 42% cited incomes not keeping pace with housing cost increases
    • 33% said housing price increases themselves
    • 11% mortgage rates
    • 4% homebuying surges
    • 1% housing construction slowdowns
• When it comes to income versus rent –
  • • 27% say they spend less than one-third of their total monthly income on rent or mortgage payments
    • 38% spend one-third to half of their total monthly income
    • 25% spend more than half
• Respondents support legislation to address housing affordability, including –
  • • Preserving the New Jersey Affordable Housing Trust Fund for its intended purpose, housing development and rehabilitation (63%)
    • 17% say the fee should be used for other programs
    • 20% are unsure
• As for other measures to address housing costs –
  • • 69% support offering first-generation homebuyers down payment assistance
    • 61% support adopting statewide rent control
    • 53% support increasing rental assistance
• 60% support a surcharge on the sale of luxury homes exceeding $2 million while 25% oppose it and 16% are unsure

Feeling the squeeze

Ashley Koning is an assistant research professor and director of the Eagleton Center for Public Interest Polling at Rutgers University-New Brunswick. She said that views on housing affordability in the Garden State have not improved in ECPIP’s polling over time.

“It is no wonder that affordability, cost of living, and property taxes are perennially some of New Jerseyans’ top concerns given how much they report paying and how increasingly difficult they feel it is to afford housing,” said Koning.

Staci Berger, president and CEO of the Housing and Community Development Network of New Jersey, said that residents are being squeezed by rising rents, mortgages, utility and grocery costs.

“The demand for affordable homes is at an all-time high but the supply can’t keep up without public investment,” said Berger. “New Jerseyans support preserving the trust fund because they know it is challenging and yet, essential to have a safe, quality home they can afford. In the current state budget proposal, the Affordable Housing Trust Fund would be diverted to other housing adjacent programs.”

The full poll results are available here.