Department of Numbers

Warren County New Jersey Residential Rent and Rental Statistics

The median monthly gross residential rent in Warren County NJ was $1,034 in 2017 according to the Census ACS survey.1 Average gross rent in Warren County was $988 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 Warren County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Warren 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%
Warren County NJ Median Gross Rent $1,034 +0.49% +0.88%

Warren County NJ Real Gross Rent Trends

Median gross rent for Warren County peaked in real terms in 2008 at $1,102 and is now $68 (6.17%) lower. Average gross rent for Warren County peaked in real terms in 2008 at $1,118 and is now $130 (11.63%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Warren County

Date US
Median
New Jersey
Median
Warren County NJ
Median
Warren County NJ
Average
2017 $1,012 $1,284 $1,034 $988
2016 $996 $1,263 $1,029 $1,024
2015 $987 $1,249 $1,102 $1,037
2014 $956 $1,231 $1,025 $1,054
2013 $924 $1,196 $1,069 $1,087
2012 $912 $1,184 $1,004 $995
2011 $912 $1,189 $978 $919
2010 $927 $1,207 $978 $954
2009 $931 $1,225 $1,055 $1,116
2008 $947 $1,227 $1,102 $1,118
2007 $899 $1,169 $1,030 $959
2006 $909 $1,160 $1,031 $991

Warren 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 Warren County New Jersey was 4.74% according to Census ACS data.

Rental Vacancy Rate in Warren 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%
Warren County NJ 4.74% +2.96% -1.83%

Trends in Warren County NJ Rental Vacancy Rate

The rental vacancy rate in Warren County peaked in 2012 at 13.93%. Since then it has fallen by 9.19% to 4.74%. Data records for this series originated in 2005. From a 2016 post peak low of 1.78%, the rental vacancy rate has increased by 2.96%.

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

Rental vacancy rate in New Jersey

Historical Rental Vacancy Rate data for Warren County

Date US New Jersey Warren County NJ
2017 6.18% 4.45% 4.74%
2016 5.89% 5.02% 1.78%
2015 5.85% 5.65% 3.21%
2014 6.32% 6.09% 6.57%
2013 6.49% 6.18% 4.36%
2012 6.77% 5.96% 13.93%
2011 7.40% 6.99% 11.11%
2010 8.17% 7.51% 11.45%
2009 8.43% 7.59% 10.92%
2008 7.86% 7.27%
2007 7.87% 6.30%
2006 7.70% 6.41% 8.93%

Rent as a Fraction of Income

Using median household income data for Warren County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Warren County, median monthly gross rent as a fraction of median household income was 15.38% in 2017 according to the ACS.

Warren 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%
Warren County NJ 15.38% -0.85% -1.43%

Trends in Warren County NJ Rent as a Fraction of Income

The fraction of median Warren County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 18.69%. Since then it has fallen by 3.31% to 15.38%.

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

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

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

Date US New Jersey Warren County NJ
2017 20.13% 19.24% 15.38%
2016 20.43% 19.61% 16.24%
2015 20.63% 20.17% 18.03%
2014 20.89% 20.06% 16.81%
2013 20.78% 20.03% 18.69%
2012 20.65% 19.77% 16.43%
2011 20.70% 20.19% 16.83%
2010 20.50% 19.75% 15.07%
2009 20.12% 19.46% 16.09%
2008 19.00% 18.21% 15.07%
2007 18.66% 18.37% 16.45%
2006 18.90% 18.13% 16.74%

Renter Fraction in Warren County New Jersey

You can calculate the renter fraction in Warren 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 Warren County as a fraction of total Warren County households. In 2017 27.80% of households were renters according to Census ACS data.

Warren 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%
Warren County NJ 27.80% +0.79% -0.79%

Trends in the Warren County NJ Renter Fraction

The Warren County household renter fraction peaked in in 2013 at 30.96% and is now 3.16% below that level. The origin year for the series is 2005.

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

Fraction of renters in Warren County

History of Warren County Renter Fraction

Date US New Jersey Warren County NJ
2017 36.13% 36.19% 27.80%
2016 36.88% 36.77% 27.01%
2015 36.97% 36.98% 30.62%
2014 36.90% 36.74% 28.59%
2013 36.50% 35.95% 30.96%
2012 36.09% 34.93% 26.05%
2011 35.42% 34.95% 22.56%
2010 34.65% 33.59% 22.96%
2009 34.13% 33.86% 27.62%
2008 33.36% 32.98% 26.90%
2007 32.80% 32.73% 24.74%
2006 32.73% 32.70% 25.72%

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.