New Jersey residents are facing significant challenges in keeping up with rent and mortgage payments, placing the state among the top five in the nation for housing delinquencies, according to a recent study.
The analysis, conducted by real estate platform Deeds.com, examined data from the U.S. Census Bureau’s Household Pulse Survey to assess financial hardships across the country. The findings reveal that millions of Americans are struggling to meet their housing obligations, with over 6.6 million households behind on mortgage payments and 9.4 million renters falling behind on rent.
Among all 50 states, New Jersey ranked fifth for housing payment delinquencies, trailing only Mississippi, Illinois, Delaware, and Wyoming. The study found that 5.57% of New Jersey homeowners are late on their mortgage payments, while 17.7% of renters across the state are behind on rent.
Overall, delinquency rates nationwide hovered between 11% and 12%, highlighting a widespread affordability crisis affecting both renters and homeowners. The study underscores the financial strain that many New Jersey residents are facing as they struggle to keep up with the rising cost of housing.
