Photo Courtesy of Mikie Sherrill on Instagram.
Affordable housing follows the tune of a popular saying this month—April showers bring May flowers. Though asking prices for homes have increased 6% since the start of the new year, the state continues to offer opportunities for a lower cost of living, including an executive order to increase housing production from state Gov. Mikie Sherrill to end the month.
Read all about this and more in the Jersey Escrow, where all your housing information is stored.
NJ Home Prices Increases
A report from Fox Business says asking prices for homes have increased by 6% since the start of 2026, while the housing supply stay at pre-pandemic levels.
New Jersey real estate agent Amanda Cruz suggests that buyers looking to move away from city life in New York City and Hoboken into New Jersey suburbs—like in Monmouth County—may be to blame.
“Prices are exploding in this Monmouth County town,” she said in an Instagram Reel from April 20. “We have a ton of people looking from LA, a exodus from New York, Hoboken and our state is only so big.”
The area has caught the attention of big names like Netflix, who are currently developing Fort Monmouth Studios in Oceanport, which will be home to 12 soundstages for the production company.
While the studio brings economic and creative opportunities to the state, there are worries that industry professionals and weather demographics chasing Hollywood East’s momentum will price out the working-class New Jerseyans.
“So if you don’t live in this area already, I don’t think the average person is going to be able to move into Monmouth County, the eastern Monmouth area, very soon,” Cruz told Fox Business.
Slice of Culture reached out to Cruz for comment, but received no response at the time of this writing.
Sherrill‘s Executive Order 17 Further Pushes Affordable Housing Obligations
Executive Order 17, signed on April 27 by Gov. Sherrill, focuses on three deadlines set for this summer for “rapid action” in affordable housing efforts.
By June 11—45 days after the executive order—a Housing Governing council must be formed and met. The Governor’s Office Chief Operating Officer will chair the Governing Council and include representatives from departments and agencies like the Department of Community Affairs, Housing & Mortgage Finance Agency, Economic Development Authority and New Jersey Transit Authority. The administration also expects participation from numerous other agencies.
By June 27, state agencies and authorities must present current housing affordability reports to Sherrill’s office. The reports must include information on inventory of land owned, unutilized property, existing and planned affordable housing projects and existing rules or regulations that may be slowing progress and alternative plans for efficiency and efficacy.
By Sept. 24 or less than 150 days after reports are submitted, the Housing Governing Council must recommend and advise on meeting housing goals, redeveloping or developing on state-owned land and property, coordinating finances and ensuring accessible affordable housing opportunities.
These deadlines have been set in accordance with the New Jersey Supreme Court’s Mount Laurel Doctrine and the State’s Fair Housing Act, to “build and preserve tens of thousands of homes over the next ten years to address housing needs in the state,” the executive order reads.
The executive order went into effect immediately.
Jersey Shore Offers Affordable Housing As Low As $489 A Month
118 Broadway, also called Livana Long Branch, in Long Branch, NJ is currently offering thirty affordable apartments for very low, low and moderate income households.
A one-bedroom apartment can go from $489 to $1,257 a month, a two-bedroom from $565 to $1,485 a month and a three-bedroom from $642 to $1,705, depending on your income bracket. Applications will be accepted from April 1 to July 31, and a random selection will be held on Aug. 1.
The development offers “resort-style living” with a pool, fitness center, pet spa, social lounge, a coworking space and more. You can find the application and more information here.
More Housing Opportunities To Apply To!
The Haven at Davidson in Franklin Township is offering one-, two- and three-bedroom units for very low, low and moderate income households. All preliminary applications are due May 4 at 1 p.m., and a lottery will be held 15-20 days after. If selected, applicants should be ready to move in by June.
195 Nassau Street in Princeton, NJ is offering a total of nine affordable apartments ready for move-in this summer. Here are the types of apartments and rents offered.
- One studio apartment: $980 a month for a “low” income household
- One two-bedroom apartment: $589 for a “very low” income household
- Two two-bedroom apartments: $1,195 for two “low” income households
- Three three-bedroom apartments: $1,468 for three “moderate” income households
- One three bedroom apartment: $1,355 for a “low” income household
- One three-bedroom apartment: $1,670 for a “moderate” household
The development offers three ways to apply:
- Online application
- Fillable PDF to be emailed to [email protected] or mailed to 1000 Herrontown Road, Suite 201, Princeton, NJ 08540.
Applications are due on May 8, where applicants will be chosen via lottery systems. Applications received afterwards will be added to a waitlist.
For more information on requirements, click here.
Pearl Apartments in Moorestown is offering one-, two- and three-bedroom apartments for very low, low and moderate income households. Applicants must have a credit score of 620 or above and have no eviction history. Applications are due on May 17, and the lottery will take place on May 18 at 1 p.m.
You can find more information and the application here.
