Department of Numbers

Hudson County New Jersey Residential Rent and Rental Statistics

The median monthly gross residential rent in Hudson County NJ was $1,327 in 2017 according to the Census ACS survey.1 Average gross rent in Hudson County was $1,452 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Hudson County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Hudson County New Jersey (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
New Jersey Median Gross Rent $1,284 +1.66% +4.31%
Hudson County NJ Median Gross Rent $1,327 +0.91% +7.71%

Hudson County NJ Real Gross Rent Trends

At $1,327, real median gross rent in Hudson County was at its highest level in 2017 since the series began in 2005. At $1,452, real average gross rent in Hudson County was at its highest level in 2017 since the series began in 2005.

Real Gross Rent: Hudson County NJ Median, Hudson County NJ Average, New Jersey Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Hudson County

Date US
Median
New Jersey
Median
Hudson County NJ
Median
Hudson County NJ
Average
2017 $1,012 $1,284 $1,327 $1,452
2016 $996 $1,263 $1,315 $1,449
2015 $987 $1,249 $1,293 $1,424
2014 $956 $1,231 $1,232 $1,366
2013 $924 $1,196 $1,214 $1,311
2012 $912 $1,184 $1,218 $1,307
2011 $912 $1,189 $1,181 $1,264
2010 $927 $1,207 $1,188 $1,266
2009 $931 $1,225 $1,217 $1,301
2008 $947 $1,227 $1,197 $1,305
2007 $899 $1,169 $1,128 $1,219
2006 $909 $1,160 $1,121 $1,200

Hudson County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Hudson County New Jersey was 4.82% according to Census ACS data.

Rental Vacancy Rate in Hudson County New Jersey

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
New Jersey 4.45% -0.57% -1.64%
Hudson County NJ 4.82% -0.33% +0.19%

Trends in Hudson County NJ Rental Vacancy Rate

The rental vacancy rate in Hudson County peaked in 2010 at 8.99%. Since then it has fallen by 4.17% to 4.82%. Data records for this series originated in 2005. From a 2014 post peak low of 4.63%, the rental vacancy rate has increased by 0.19%.

Rental Vacancy Rate: Hudson County NJ, New Jersey, US

Rental vacancy rate in New Jersey

Historical Rental Vacancy Rate data for Hudson County

Date US New Jersey Hudson County NJ
2017 6.18% 4.45% 4.82%
2016 5.89% 5.02% 5.15%
2015 5.85% 5.65% 4.77%
2014 6.32% 6.09% 4.63%
2013 6.49% 6.18% 5.77%
2012 6.77% 5.96% 4.74%
2011 7.40% 6.99% 6.89%
2010 8.17% 7.51% 8.99%
2009 8.43% 7.59% 7.26%
2008 7.86% 7.27% 7.10%
2007 7.87% 6.30% 5.58%
2006 7.70% 6.41% 5.56%

Rent as a Fraction of Income

Using median household income data for Hudson County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hudson County, median monthly gross rent as a fraction of median household income was 23.71% in 2017 according to the ACS.

Hudson County New Jersey Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
New Jersey 19.24% -0.37% -0.82%
Hudson County NJ 23.71% -0.64% -0.97%

Trends in Hudson County NJ Rent as a Fraction of Income

The fraction of median Hudson County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 25.44%. Since then it has fallen by 1.73% to 23.71%.

Fraction of Income towards Rent: Hudson County NJ, New Jersey, US

Percent of median household income going towards median monthly gross rent in Hudson County New Jersey

Historical Data for Annual Rent as a Fraction of Income in Hudson County New Jersey

Date US New Jersey Hudson County NJ
2017 20.13% 19.24% 23.71%
2016 20.43% 19.61% 24.35%
2015 20.63% 20.17% 24.92%
2014 20.89% 20.06% 24.69%
2013 20.78% 20.03% 25.44%
2012 20.65% 19.77% 24.63%
2011 20.70% 20.19% 23.92%
2010 20.50% 19.75% 23.99%
2009 20.12% 19.46% 23.28%
2008 19.00% 18.21% 22.54%
2007 18.66% 18.37% 23.00%
2006 18.90% 18.13% 22.79%

Renter Fraction in Hudson County New Jersey

You can calculate the renter fraction in Hudson 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 Hudson County as a fraction of total Hudson County households. In 2017 68.25% of households were renters according to Census ACS data.

Hudson County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
New Jersey 36.19% -0.58% -0.55%
Hudson County NJ 68.25% -1.16% -2.40%

Trends in the Hudson County NJ Renter Fraction

The Hudson County household renter fraction peaked in in 2014 at 70.65% and is now 2.40% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Hudson County NJ, New Jersey, US

Fraction of renters in Hudson County

History of Hudson County Renter Fraction

Date US New Jersey Hudson County NJ
2017 36.13% 36.19% 68.25%
2016 36.88% 36.77% 69.41%
2015 36.97% 36.98% 70.12%
2014 36.90% 36.74% 70.65%
2013 36.50% 35.95% 69.52%
2012 36.09% 34.93% 67.92%
2011 35.42% 34.95% 67.20%
2010 34.65% 33.59% 66.24%
2009 34.13% 33.86% 66.76%
2008 33.36% 32.98% 64.65%
2007 32.80% 32.73% 64.99%
2006 32.73% 32.70% 65.67%

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.