HCDNJ Housing Fact of the Month

This is from our friends at the Housing & Community Development Network of NJ .

In New Jersey, there are 243,830 renters who are very low income, earning less than 30% of the area median family income; of these households, 56.6% are extremely cost burdened. They pay more than 50% of their total gross income for rent plus utilities. This data comes from NJ’s 2007 Action Plan, a one-year implementation outline of the state’s five year Consolidated Plan. The Action Plan provides specific activities and goals for how the Community Development Block Grant Program (CDBG), Emergency Shelter Grant Program (ESG), HOME Investment Partnerships Program (HOME), and Housing Opportunities for Persons with AIDS (HOPWA) will address the prioritized housing, community, and economic development needs of the State.

The Consolidated Plan is the five year proposal that outlines how the Corzine Administration intends to allocate state and federal funds, as well as private resources, to address housing and community development goals. According to the April 5, 2007 Plan draft, “priority will be given to projects that carry out neighborhood revitalization, create new affordable housing units, provide rental assistance and expand services for the homeless and other special needs groups” (p.2). To view more of these facts, and to read more about NJ’s Consolidated Plan and 2007 Action Plan, click here.

In New Jersey, there are 243,830 renters who are very low income, earning less than 30% of the area median family income; of these households, 56.6% are extremely cost burdened. They pay more than 50% of their total gross income for rent plus utilities. This data comes from NJ’s 2007 Action Plan, a one-year implementation outline of the state’s five year Consolidated Plan. The Action Plan provides specific activities and goals for how the Community Development Block Grant Program (CDBG), Emergency Shelter Grant Program (ESG), HOME Investment Partnerships Program (HOME), and Housing Opportunities for Persons with AIDS (HOPWA) will address the prioritized housing, community, and economic development needs of the State.

The Consolidated Plan is the five year proposal that outlines how the Corzine Administration intends to allocate state and federal funds, as well as private resources, to address housing and community development goals. According to the April 5, 2007 Plan draft, “priority will be given to projects that carry out neighborhood revitalization, create new affordable housing units, provide rental assistance and expand services for the homeless and other special needs groups” (p.2). To view more of these facts, and to read more about NJ’s Consolidated Plan and 2007 Action Plan, click here.