According to the annual, national report released today, New Jersey is the fifth most expensive state to rent a home; only Hawaii, California, New York, and Maryland are less affordable as well as Washington, DC which is counted separately. In order to afford a modest two-bedroom home in the Garden State, a family must earn an hourly wage of $26.52, far more than the state’s average hourly wage of $16.98 or the $8.38 minimum wage.
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