Department of Numbers

Passaic County New Jersey Residential Rent and Rental Statistics

The median monthly gross residential rent in Passaic County NJ was $1,238 in 2017 according to the Census ACS survey.1 Average gross rent in Passaic County was $1,201 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 Passaic County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Passaic 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%
Passaic County NJ Median Gross Rent $1,238 +0.16% +0.08%

Passaic County NJ Real Gross Rent Trends

At $1,238, real median gross rent in Passaic County was at its highest level in 2017 since the series began in 2005. Average gross rent for Passaic County peaked in real terms in 2014 at $1,216 and is now $15 (1.23%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Passaic County

Date US
Median
New Jersey
Median
Passaic County NJ
Median
Passaic County NJ
Average
2017 $1,012 $1,284 $1,238 $1,201
2016 $996 $1,263 $1,236 $1,189
2015 $987 $1,249 $1,226 $1,168
2014 $956 $1,231 $1,237 $1,216
2013 $924 $1,196 $1,201 $1,166
2012 $912 $1,184 $1,168 $1,136
2011 $912 $1,189 $1,154 $1,127
2010 $927 $1,207 $1,180 $1,148
2009 $931 $1,225 $1,223 $1,186
2008 $947 $1,227 $1,182 $1,153
2007 $899 $1,169 $1,172 $1,178
2006 $909 $1,160 $1,174 $1,159

Passaic 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 Passaic County New Jersey was 2.31% according to Census ACS data.

Rental Vacancy Rate in Passaic 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%
Passaic County NJ 2.31% -0.56% -3.04%

Trends in Passaic County NJ Rental Vacancy Rate

The rental vacancy rate in Passaic County peaked in 2008 at 10.10%. Since then it has fallen by 7.79% to 2.31%. Data records for this series originated in 2005.

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

Rental vacancy rate in New Jersey

Historical Rental Vacancy Rate data for Passaic County

Date US New Jersey Passaic County NJ
2017 6.18% 4.45% 2.31%
2016 5.89% 5.02% 2.87%
2015 5.85% 5.65% 5.30%
2014 6.32% 6.09% 5.35%
2013 6.49% 6.18% 5.28%
2012 6.77% 5.96% 4.08%
2011 7.40% 6.99% 5.90%
2010 8.17% 7.51% 7.46%
2009 8.43% 7.59% 8.71%
2008 7.86% 7.27% 10.10%
2007 7.87% 6.30% 6.09%
2006 7.70% 6.41% 7.40%

Rent as a Fraction of Income

Using median household income data for Passaic County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Passaic County, median monthly gross rent as a fraction of median household income was 23.13% in 2017 according to the ACS.

Passaic 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%
Passaic County NJ 23.13% -0.42% -1.52%

Trends in Passaic County NJ Rent as a Fraction of Income

The fraction of median Passaic County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 25.61%. Since then it has fallen by 2.48% to 23.13%.

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

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

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

Date US New Jersey Passaic County NJ
2017 20.13% 19.24% 23.13%
2016 20.43% 19.61% 23.55%
2015 20.63% 20.17% 25.56%
2014 20.89% 20.06% 24.65%
2013 20.78% 20.03% 23.96%
2012 20.65% 19.77% 23.00%
2011 20.70% 20.19% 25.25%
2010 20.50% 19.75% 24.20%
2009 20.12% 19.46% 25.61%
2008 19.00% 18.21% 21.73%
2007 18.66% 18.37% 22.64%
2006 18.90% 18.13% 23.69%

Renter Fraction in Passaic County New Jersey

You can calculate the renter fraction in Passaic 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 Passaic County as a fraction of total Passaic County households. In 2017 48.12% of households were renters according to Census ACS data.

Passaic 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%
Passaic County NJ 48.12% -0.68% +1.01%

Trends in the Passaic County NJ Renter Fraction

The Passaic County household renter fraction peaked in in 2016 at 48.80% and is now 0.68% below that level. The origin year for the series is 2005.

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

Fraction of renters in Passaic County

History of Passaic County Renter Fraction

Date US New Jersey Passaic County NJ
2017 36.13% 36.19% 48.12%
2016 36.88% 36.77% 48.80%
2015 36.97% 36.98% 47.55%
2014 36.90% 36.74% 47.11%
2013 36.50% 35.95% 46.37%
2012 36.09% 34.93% 47.14%
2011 35.42% 34.95% 46.33%
2010 34.65% 33.59% 45.69%
2009 34.13% 33.86% 44.05%
2008 33.36% 32.98% 42.51%
2007 32.80% 32.73% 44.36%
2006 32.73% 32.70% 44.91%

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.