The housing crisis in the United States has reached a new level of urgency. In 2025, no state in the U.S. allows a person earning minimum wage to afford a two-bedroom apartment. According to the National Low Income Housing Coalition’s (NLIHC) 2025 Out of Reach report, the "Housing Wage"—the hourly wage needed to afford a modest two-bedroom apartment without spending more than 30% of one's income—has climbed to $34.12 per hour. For comparison, the federal minimum wage remains at $7.25 per hour, meaning a minimum wage worker would need to earn nearly five times that amount to afford the average rent.
This stark difference between income and housing costs isn’t just a theoretical problem—it’s a daily struggle for millions of Americans.
The Reality of Affording Housing in 2025
To put the Housing Wage into perspective: In states with lower overall housing costs, such as North Dakota, a worker earning the state’s minimum wage of $9.25 per hour would still have to work 111 hours per week—more than 16 hours per day, seven days a week—to afford a two-bedroom rental at fair market rent.
In high-cost markets like New York, San Francisco, or Los Angeles, the wage gap is even more severe. In these cities, the Housing Wage can exceed $50 per hour, making it nearly impossible for anyone earning the federal minimum wage to afford even the most basic housing.
These numbers are not just statistics; they represent the lived reality of millions of people who are struggling to make ends meet. As rent prices continue to rise and wages remain stagnant, many Americans find themselves facing difficult choices—such as whether to pay for housing or other essential needs like food, healthcare, and transportation.
The Broader Impact of the Housing Crisis
The inability to afford housing has far-reaching consequences. Many low-income individuals and families are forced to live in overcrowded conditions, moving from place to place or relying on temporary shelter. For those unable to keep up with rent payments, eviction becomes a real threat, which can lead to displacement and homelessness.
What’s even more concerning is the lack of affordable housing options nationwide. According to the NLIHC report, there is a shortage of 7 million rental homes that are affordable and available to extremely low-income renters, further exacerbating the situation.
How Can You Navigate This Crisis?
If you are struggling to find affordable housing, whether in New Jersey or nearby areas, you don’t have to face this challenge alone. At GoodBuy Homes NJ Realty, we specialize in helping renters find quality, affordable housing options, especially those who are navigating the difficult market conditions of 2025.
Here’s how we can help:
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Access to a Wide Range of Rental Properties: We have numerous apartments always available for rent across New Jersey, from cities like Jersey City and Newark to quieter suburban areas. Our listings cater to a variety of budgets, ensuring there’s something for everyone.
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Expert Guidance: Navigating the rental market can be daunting, especially with rising rents. As an experienced real estate professional, I, Malik Crichlow, will work with you personally to find a home that fits both your budget and lifestyle.
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Flexible Solutions: Whether you're looking for a short-term rental or a long-term lease, we offer a variety of housing options to suit your needs. We also work closely with local landlords and property managers to ensure you're getting the best deal possible.
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Simplified Process: Finding affordable housing shouldn’t be a burden. I’ll guide you through every step of the rental process, from identifying available listings to finalizing your lease.
Why New Jersey?
If you're currently looking to relocate, New Jersey offers more affordable housing options compared to other major metro areas. Cities like Jersey City, Hoboken, and Newark provide excellent access to New York City while offering significantly lower rents. Whether you’re commuting for work or simply seeking a more affordable lifestyle, New Jersey could be the perfect place to call home.
Let Us Help You Find Your New Home
If you're feeling overwhelmed by the rising costs of housing, don’t wait for the market to improve on its own. Reach out to Malik Crichlow at GoodBuy Homes NJ Realty. With our in-depth knowledge of the local market and extensive listings, we can help you find a rental property that suits your budget and needs.
Contact me today, and let’s get started on securing your new home in New Jersey. We’re here to help you navigate the housing market and find the perfect place to live.
