Department of Numbers

Hunterdon County New Jersey Residential Rent and Rental Statistics

The median monthly gross residential rent in Hunterdon County NJ was $1,421 in 2017 according to the Census ACS survey.1 Average gross rent in Hunterdon County was $1,381 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 Hunterdon County median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Hunterdon 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%
Hunterdon County NJ Median Gross Rent $1,421 +6.28% +0.50%

Hunterdon County NJ Real Gross Rent Trends

At $1,421, real median gross rent in Hunterdon County was at its highest level in 2017 since the series began in 2005. Average gross rent for Hunterdon County peaked in real terms in 2014 at $1,435 and is now $54 (3.76%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Hunterdon County

Date US
Median
New Jersey
Median
Hunterdon County NJ
Median
Hunterdon County NJ
Average
2017 $1,012 $1,284 $1,421 $1,381
2016 $996 $1,263 $1,337 $1,290
2015 $987 $1,249 $1,340 $1,336
2014 $956 $1,231 $1,414 $1,435
2013 $924 $1,196 $1,411 $1,301
2012 $912 $1,184 $1,268 $1,240
2011 $912 $1,189 $1,283 $1,326
2010 $927 $1,207 $1,295 $1,272
2009 $931 $1,225 $1,337 $1,230
2008 $947 $1,227 $1,249 $1,257
2007 $899 $1,169 $1,272 $1,155
2006 $909 $1,160 $1,244 $1,200

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

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
New Jersey 4.45% -0.57% -1.64%
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

Rental vacancy rate in New Jersey

Historical Rental Vacancy Rate data for Hunterdon County

Date US New Jersey Hunterdon County NJ
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%
2008 7.86% 7.27%
2007 7.87% 6.30%
2006 7.70% 6.41% 1.98%

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 15.22% in 2017 according to the ACS.

Hunterdon 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%
Hunterdon County NJ 15.22% +1.32% -0.78%

Trends in Hunterdon County NJ Rent as a Fraction of Income

The fraction of median Hunterdon County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 16.00%. Since then it has fallen by 0.78% to 15.22%.

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

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

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

Date US New Jersey Hunterdon County NJ
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%
2008 19.00% 18.21% 12.70%
2007 18.66% 18.37% 13.35%
2006 18.90% 18.13% 13.44%

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 2017 17.77% of households were renters according to Census ACS data.

Hunterdon 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%
Hunterdon County NJ 17.77% +1.63% +1.09%

Trends in the Hunterdon County NJ Renter Fraction

The Hunterdon County household renter fraction peaked in in 2012 at 18.22% and is now 0.45% below that level. The origin year for the series is 2005.

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

Fraction of renters in Hunterdon County

History of Hunterdon County Renter Fraction

Date US New Jersey Hunterdon County NJ
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%
2008 33.36% 32.98% 13.74%
2007 32.80% 32.73% 12.28%
2006 32.73% 32.70% 11.95%

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.