Department of Numbers

Atlantic City New Jersey Residential Rent and Rental Statistics

The median monthly gross residential rent in Atlantic City, NJ (the Atlantic City-Hammonton metro area) was $1,037 in 2016 according to the Census ACS survey.1 Average gross rent in Atlantic City was $1,028 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Atlantic City median and average rent data will be released in September of 2018.

Data is also available below for Atlantic City rental vacancy rates, Atlantic City rent as a percent of median income and the fraction of renters in Atlantic City.

Show dollars as: Nominal Real

Real Gross Rent in Atlantic City New Jersey (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
New Jersey Median Gross Rent $1,244 +1.14% +5.60%
Atlantic City, NJ Median Gross Rent $1,037 -4.34% +0.78%

Atlantic City, NJ Real Gross Rent Trends

Median gross rent for Atlantic City peaked in real terms in 2015 at $1,084 and is now $47 (4.34%) lower. Average gross rent for Atlantic City peaked in real terms in 2015 at $1,068 and is now $40 (3.75%) lower.

Real Gross Rent in Atlantic City: Atlantic City NJ Median, Atlantic City NJ Average, New Jersey Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Atlantic City

Date US
Median
New Jersey
Median
Atlantic City, NJ
Median
Atlantic City, NJ
Average
2016 $981 $1,244 $1,037 $1,028
2015 $972 $1,230 $1,084 $1,068
2014 $942 $1,212 $1,026 $1,017
2013 $910 $1,178 $1,029 $1,007
2012 $898 $1,166 $1,049 $992
2011 $898 $1,171 $1,046 $1,005
2010 $912 $1,189 $1,060 $1,004
2009 $916 $1,206 $1,036 $1,039
2008 $932 $1,208 $1,045 $1,023
2007 $885 $1,151 $1,027 $1,014
2006 $895 $1,142 $1,051 $1,034
2005 $869 $1,116 $997 $924

Atlantic City Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Atlantic City New Jersey was 8.77% according to Census ACS data.

Rental Vacancy Rate in Atlantic City New Jersey

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
New Jersey 5.02% -0.63% -1.16%
Atlantic City, NJ 8.77% +1.19% +1.55%

Trends in Atlantic City, NJ Rental Vacancy Rate

The rental vacancy rate in Atlantic City peaked in 2005 at 14.97%. Since then it has fallen by 6.20% to 8.77%. Data records for this series originated in 2005. From a 2014 post peak low of 4.86%, the rental vacancy rate has increased by 3.91%.

Rental Vacancy Rate: Atlantic City NJ, New Jersey, US

Rental vacancy rate in New Jersey

Historical Rental Vacancy Rate data for Atlantic City

Date US New Jersey Atlantic City, NJ
2016 5.89% 5.02% 8.77%
2015 5.85% 5.65% 7.58%
2014 6.32% 6.09% 4.86%
2013 6.49% 6.18% 7.22%
2012 6.77% 5.96% 6.78%
2011 7.40% 6.99% 9.77%
2010 8.17% 7.51% 10.63%
2009 8.43% 7.59% 13.76%
2008 7.86% 7.27% 6.58%
2007 7.87% 6.30% 6.66%
2006 7.70% 6.41% 6.63%
2005 7.74% 6.43% 14.97%

Rent as a Fraction of Income

Using median household income data for Atlantic City, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Atlantic City, median monthly gross rent as a fraction of median household income was 21.92% in 2016 according to the ACS.

Atlantic City New Jersey Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
New Jersey 19.61% -0.56% -0.42%
Atlantic City, NJ 21.92% -1.84% -1.63%

Trends in Atlantic City, NJ Rent as a Fraction of Income

The fraction of median Atlantic City household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 24.22%. Since then it has fallen by 2.30% to 21.92%.

Fraction of Income towards Rent: Atlantic City NJ, New Jersey, US

Percent of median household income going towards median monthly gross rent in Atlantic City New Jersey

Historical Data for Annual Rent as a Fraction of Income in Atlantic City New Jersey

Date US New Jersey Atlantic City, NJ
2016 20.43% 19.61% 21.92%
2015 20.63% 20.17% 23.75%
2014 20.89% 20.06% 22.09%
2013 20.78% 20.03% 23.55%
2012 20.65% 19.77% 24.22%
2011 20.70% 20.19% 23.94%
2010 20.50% 19.75% 22.67%
2009 20.12% 19.46% 21.61%
2008 19.00% 18.21% 21.04%
2007 18.66% 18.37% 19.69%
2006 18.90% 18.13% 20.59%
2005 18.89% 18.19% 19.89%

Renter Fraction in Atlantic City New Jersey

You can calculate the renter fraction in Atlantic City 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 Atlantic City as a fraction of total Atlantic City households. In 2016 32.36% of households were renters according to Census ACS data.

Atlantic City Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
New Jersey 36.77% -0.21% +0.82%
Atlantic City, NJ 32.36% +0.28% -1.14%

Trends in the Atlantic City, NJ Renter Fraction

The Atlantic City household renter fraction peaked in in 2012 at 35.15% and is now 2.79% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Atlantic City NJ, New Jersey, US

Fraction of renters in Atlantic City

History of Atlantic City Renter Fraction

Date US New Jersey Atlantic City, NJ
2016 36.88% 36.77% 32.36%
2015 36.97% 36.98% 32.08%
2014 36.90% 36.74% 33.31%
2013 36.50% 35.95% 33.50%
2012 36.09% 34.93% 35.15%
2011 35.42% 34.95% 33.09%
2010 34.65% 33.59% 26.56%
2009 34.13% 33.86% 29.34%
2008 33.36% 32.98% 27.67%
2007 32.80% 32.73% 30.19%
2006 32.73% 32.70% 31.70%
2005 33.10% 32.71% 32.11%

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.