Rent compared with home values in New Jersey’s 21 counties

In New Jersey, rent is highest compared with home values in the south of the state. In Cumberland County a year of the median rent equals about 6.95 dollars for every 100 dollars of the median home value. In Essex County it is about 3.51 dollars, about half as much. Here is the table for all 21 counties, from U.S. Census Bureau figures, and how it was worked out.

I put it together for landlords comparing places to buy a rental, including those looking at a DSCR loan, a business-purpose mortgage based on the property’s own rent instead of your personal income.

The table: all 21 counties

Amounts are in dollars. “Per 100 of value” means for every 100 dollars of the median home value. “Renters per 100” is renter households out of every 100 households.

Source: U.S. Census Bureau, American Community Survey 5-year estimates, 2020-2024, tables DP04 and B25103, read from data.census.gov on November 2, 2026. Shares worked out by Fidelity Residential.

How the figures were worked out

• Rent per 100 of value: the median monthly gross rent times 12, divided by the median value of owner-occupied homes, times 100.
• Tax per 100 of value: the median real estate taxes paid by owners, divided by the median value, times 100.
• The tax band: the Census tax table stops at a band of 10,000 dollars or more. Eight counties have a median in that band, so their bill shows as 10,000 or more and no tax share is worked out for them.

What it can and cannot tell you

This is a rough county-level comparison, not a return on any property:

• Different homes. Renters and owners tend to live in different homes, with more apartments among renters, so the median rent and the median value describe different kinds of property.
• Gross rent. It includes the utilities and fuel that some tenants pay on top of the rent.
• Costs left out. Taxes, insurance, repairs, vacancy and financing are not counted in the rent share.
• Averages over time. The medians are survey estimates averaged over five years, not this year’s prices or rents.

What the table shows

• Rent is highest compared with value in South Jersey. Cumberland County, at about 7 dollars of rent for every 100 dollars of value, is about twice Essex County, Monmouth County or Bergen County, which are between about 3.5 and 3.7.
• Some of the same counties carry heavy tax bills compared with value. Salem County, at about 2.9 dollars of tax for every 100 dollars of value, and Camden County, at about 2.8, are the highest of the 13 counties where the figure can be worked out.
• Eight counties are in the highest tax band. In Monmouth County and seven counties in the north and center of the state, the median owner’s tax bill is 10,000 dollars or more.
• Cape May County stands apart. It has the smallest tax share in the table, about 1.2, and one of the smaller rent shares. About half of its homes, 49,655 of 99,599, are held for seasonal, recreational or occasional use, and seasonal rents are not well captured by a year-round median.

What it means for an investor

A DSCR loan compares the property’s monthly rent with its full monthly payment: principal, interest, property taxes, insurance and any association dues. Where prices and tax bills are lower compared with rents, the same rent has less to cover.

County medians are a starting point, not a substitute for the lease, the appraiser’s market rent, the tax bill and the insurance quote on the property you have in mind. Run that property’s own figures in our DSCR calculator, and use the rental property calculator for its cap rate and cash-on-cash return. Our page on DSCR loans in New Jersey explains how the loan works.

Frequently asked questions

Where do these figures come from?

From the U.S. Census Bureau’s American Community Survey 5-year estimates for 2020 to 2024: table DP04 for home values, rents and renter households, table B25103 for owners’ tax bills, and table B25004 for seasonal homes.

Is rent per 100 of value the same as a return on a rental?

No. It compares a year of gross rent with a home value before taxes, insurance, repairs, vacancy and financing, and the rent and the value describe different homes. The rental property calculator works out the net operating income and cap rate of one property from its own figures.

Can I use a county median for a DSCR loan?

No. The rent used is generally the lower of the lease and the appraiser’s market rent, and the payment uses the property’s own tax bill and insurance.

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