Is there affordable housing in New Jersey, and where do I find it?
By Virginia K. Smith |June 19, 2015 - 8:59AM
We often receive emails from readers asking for help in navigating their own real estate crises. In Realty Bites, we try to get them answers.
"Do luxury buildings in New Jersey have subsidized apartments for rent, similar to the ones available on NYC Housing Connect, or is the program only in NYC? And if there aresubsidized apartments in new construction buildings in NJ, where do I find them?"
While there are affordable rentals available in New Jersey, they're even scarcer than they are in New York. If your heart is set on a luxury building in Jersey City, well, you've likely got a long search ahead of you. (Sorry to be the bearers of bad news.)
"There's a lot less required [of developers] in New Jersey than in New York," says Arnold Cohen, Senior Policy Coordinator at the Housing and Community Development Network of New Jersey. "If the building is getting a state subsidy, they need to include 20 percent affordable apartments, but if they can make it work without state financing, they can opt out." Because of the way New Jersey's housing laws are set up, Cohen notes, affordable housing policies and availability vary from town to town, and areas where development is booming — such as Jersey City — are often less likely to zone for significant amounts of affordable housing.
Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.