Benefits to the Community

Benefits to the Community

o   Employees can afford to live near their work locations.  (1)

    •   NJ is ranked 6th highest in the U.S. for living expenses.
    •   (For example, a 2-bedroom rental costs an average of  $1,501/month or  $18,012/year.)

    •   NJ Renter median household income is $57,694/year  (Estimated).
    •   NJ Registered Nurses median income is $79,530/year.

o   Increases the number of available candidates for local jobs.

o   Reduction in foreclosures.
    •   March 2020:  2,500 NJ Homes in Foreclosure  (2)

o   Homeowners can remain in New Jersey, and continue to pay property and local taxes.

(1)  Out of Reach 2019:  New Jersey, National Low Income Housing Coalition,

(2)  RealtyTrac, U.S. Real Estate Trends,