605 Broad Street in Newark. (Rebecca Panico / TAPinto)
Affordable housing is on everyone’s mind this start of the summer as New Jersey municipalities move forward with affordable housing development and a bipartisan development bill reaches the Senate.
Read about this and more on The Jersey Escrow—where all your housing information is stored.
Housing Opportunities To Apply To This Month: To Rent And Own
228 Park Avenue in East Rutherford is offering one, two and three bedroom apartments for very low, low and moderate income families with a preference for applicants in Hudson, Bergen, Passaic and Sussex County.
Applicants must make the following minimum incomes:
- Very-low income: $29,752
- Low income: $41,268
- Moderate income: $59,966
Applications are due by July 13, and a lottery selection will take place 15-20 days after the deadline. Find more information here.
Affordable Homes New Jersey is offering multiple affordable units across Ocean, Camden, Burlington, Somerset, Monmouth, Bergen, Essex and Middlesex counties. View each listing here.
605-607 Broad Street in Newark is accepting applications for studio and one-bedroom apartments. Applicants must pay an application fee and be prepared to present three years of residential history, references and monthly income. The application is available here.
Habitat for Humanity is building 12 affordable homes in Ocean County, with prices ranging from $151,859 to $339,849. Applicants are accepted until Aug. 31 to be considered for the random selection process. Read more here.
Magnolia Square in Princeton is offering one-, two- and three- bedroom condos with prices ranging from $63,230 to $245,553–with preference for applicants in Mercer, Monmouth and Ocean County. To be included in the next lottery, you must apply by Aug. 5.
To find the application, click this link, select “Go To Ownership,” and go to the Princeton section.
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401 New Jersey Municipalities Move Forward With Affordable Housing Development
As of this month, 401 out of 564 municipalities in the state have finalized plans to develop more affordable housing, according to Fair Share Housing.
The organization says this is a “historic milestone,” thanks to affordable housing law A4/S40. Passed in 2024, it required New Jersey’s municipalities to set and finalize affordable housing development plans for the next ten years by March 15, with some municipalities with extensions to May 15.
Municipalities were given various options to encourage development, such as:
- Creating 100% affordable housing buildings, like in Hoboken’s “The Willow”
- Creating mixed-income housing by providing options for very low, low and moderate income families
- Repurposing spaces like malls or offices
- Providing housing for seniors and people with disabilities
Read the press release from Fair Share Housing, detailing the state’s progress so far, here.
Senate Passes Bipartisan Affordable Housing Bill
On June 24, 85 U.S. Senators voted in favor of a bill that facilitates new affordable housing development and restricts institutional investors from buying single-family homes, with only five senators in opposition.
The Senate’s vote on Wednesday is a relief for young people, families and advocates as the country faces a shortage of four million housing units.
“Every time every member of Congress goes back home they hear how urgent it is to bring down home prices. And that’s what the bill does,” Sen. Elizabeth Warren told NPR.
However, President Trump expressed on his social media channels that he would not sign the bill until the SAVE America Act is signed. The SAVE America Act would require voters to show proof of citizenship like a U.S. passport, birth certificate or REAL ID to register to vote.
“Today’s Housing News Conference and Signing is hereby cancelled until such time as we pass the desperately needed SAVE AMERICA ACT, which I consider to be a National Emergency. Thank you for your attention to this matter,” he wrote.
Know any New Jersey housing news or resources we should include? Email Chelsea Pujols at [email protected].
