Hunterdon County New Jersey Residential Rent and Rental Statistics
The median monthly gross residential rent in Hunterdon County NJ was $1,571 in 2019 according to the Census ACS survey.1 Average gross rent in Hunterdon County was $1,435 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Hunterdon County median and average rent data will be released in September of 2021.
Data is also available below for Hunterdon County rental vacancy rates, Hunterdon County rent as a percent of median income and the fraction of renters in Hunterdon County.
Real Gross Rent in Hunterdon County New Jersey (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| New Jersey Median Gross Rent | $1,376 | +1.18% | +5.60% |
| Hunterdon County NJ Median Gross Rent | $1,571 | +12.46% | +13.92% |
Hunterdon County NJ Real Gross Rent Trends
At $1,571, real median gross rent in Hunterdon County was at its highest level in 2019 since the series began in 2005. Average gross rent for Hunterdon County peaked in real terms in 2014 at $1,479 and is now $44 (2.97%) lower.
Real Gross Rent: Hunterdon County NJ Median, Hunterdon County NJ Average, New Jersey Median, US Median
Real Gross Rent History for Hunterdon County
| Date | US Median |
New Jersey Median |
Hunterdon County NJ Median |
Hunterdon County NJ Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,376 | $1,571 | $1,435 |
| 2018 | $1,077 | $1,360 | $1,397 | $1,290 |
| 2017 | $1,043 | $1,324 | $1,465 | $1,424 |
| 2016 | $1,027 | $1,303 | $1,379 | $1,330 |
| 2015 | $1,017 | $1,288 | $1,381 | $1,378 |
| 2014 | $986 | $1,269 | $1,458 | $1,479 |
| 2013 | $953 | $1,233 | $1,455 | $1,342 |
| 2012 | $940 | $1,221 | $1,307 | $1,279 |
| 2011 | $941 | $1,226 | $1,323 | $1,367 |
| 2010 | $955 | $1,245 | $1,335 | $1,312 |
| 2009 | $960 | $1,263 | $1,379 | $1,269 |
| 2007 | $927 | $1,205 | $1,311 | $1,191 |
| 2005 | $910 | $1,169 | $1,326 | $1,104 |
Hunterdon County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Hunterdon County New Jersey was 3.18% according to Census ACS data.
Rental Vacancy Rate in Hunterdon County New Jersey
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| New Jersey | 4.23% | -0.19% | -0.79% |
| Hunterdon County NJ | — | — | — |
Trends in Hunterdon County NJ Rental Vacancy Rate
The rental vacancy rate in Hunterdon County peaked in 2011 at 9.18%. Since then it has fallen by 6.00% to 3.18%. Data records for this series originated in 2005.
Rental Vacancy Rate: Hunterdon County NJ, New Jersey, US
Historical Rental Vacancy Rate data for Hunterdon County
| Date | US | New Jersey | Hunterdon County NJ |
|---|---|---|---|
| 2019 | 5.97% | 4.23% | — |
| 2018 | 6.15% | 4.42% | — |
| 2017 | 6.18% | 4.45% | — |
| 2016 | 5.89% | 5.02% | — |
| 2015 | 5.85% | 5.65% | 3.18% |
| 2014 | 6.32% | 6.09% | — |
| 2013 | 6.49% | 6.18% | — |
| 2012 | 6.77% | 5.96% | 6.05% |
| 2011 | 7.40% | 6.99% | 9.18% |
| 2010 | 8.17% | 7.51% | — |
| 2009 | 8.43% | 7.59% | — |
| 2007 | 7.87% | 6.30% | — |
| 2005 | 7.74% | 6.43% | 6.98% |
Rent as a Fraction of Income
Using median household income data for Hunterdon County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hunterdon County, median monthly gross rent as a fraction of median household income was 16.23% in 2019 according to the ACS.
Hunterdon County New Jersey Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| New Jersey | 19.26% | -0.36% | -0.35% |
| Hunterdon County NJ | 16.23% | +1.43% | +2.33% |
Trends in Hunterdon County NJ Rent as a Fraction of Income
Hunterdon County renters paid 16.23% of median household income towards the median monthly gross rent in 2019. This is the highest fraction of median household income going to rent since the series originated in 2005.
Fraction of Income towards Rent: Hunterdon County NJ, New Jersey, US
Historical Data for Annual Rent as a Fraction of Income in Hunterdon County New Jersey
| Date | US | New Jersey | Hunterdon County NJ |
|---|---|---|---|
| 2019 | 20.03% | 19.26% | 16.23% |
| 2018 | 20.50% | 19.61% | 14.80% |
| 2017 | 20.13% | 19.24% | 15.22% |
| 2016 | 20.43% | 19.61% | 13.90% |
| 2015 | 20.63% | 20.17% | 15.30% |
| 2014 | 20.89% | 20.06% | 16.00% |
| 2013 | 20.78% | 20.03% | 15.01% |
| 2012 | 20.65% | 19.77% | 14.02% |
| 2011 | 20.70% | 20.19% | 14.83% |
| 2010 | 20.50% | 19.75% | 14.65% |
| 2009 | 20.12% | 19.46% | 14.41% |
| 2007 | 18.66% | 18.37% | 13.35% |
| 2005 | 18.89% | 18.19% | 13.64% |
Renter Fraction in Hunterdon County New Jersey
You can calculate the renter fraction in Hunterdon 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 Hunterdon County as a fraction of total Hunterdon County households. In 2019 19.57% of households were renters according to Census ACS data.
Hunterdon County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| New Jersey | 36.65% | +0.63% | -0.12% |
| Hunterdon County NJ | 19.57% | +2.69% | +3.43% |
Trends in the Hunterdon County NJ Renter Fraction
At 19.57%, the 2019 household based renter fraction in Hunterdon County was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Hunterdon County NJ, New Jersey, US
History of Hunterdon County Renter Fraction
| Date | US | New Jersey | Hunterdon County NJ |
|---|---|---|---|
| 2019 | 35.89% | 36.65% | 19.57% |
| 2018 | 36.05% | 36.02% | 16.88% |
| 2017 | 36.13% | 36.19% | 17.77% |
| 2016 | 36.88% | 36.77% | 16.14% |
| 2015 | 36.97% | 36.98% | 17.49% |
| 2014 | 36.90% | 36.74% | 16.68% |
| 2013 | 36.50% | 35.95% | 14.64% |
| 2012 | 36.09% | 34.93% | 18.22% |
| 2011 | 35.42% | 34.95% | 14.75% |
| 2010 | 34.65% | 33.59% | 15.48% |
| 2009 | 34.13% | 33.86% | 15.35% |
| 2007 | 32.80% | 32.73% | 12.28% |
| 2005 | 33.10% | 32.71% | 12.40% |
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. ↩
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