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Rental Insights for ZIP Code 08344 (Newfield, NJ)

Housing Rentals in ZIP Code 08344 (Newfield, NJ)

08344 ZIP Code in New Jersey

Learn About Housing Rentals in ZIP Code 08344

ZIP Code 08344 is primarily located in Newfield, NJ in Gloucester County. This region of New Jersey has an estimated median housing rent of $1,402 per month. Approximately 12.6% of housing units in the region are renter-occupied, and this this Gloucester County ZIP Code has an estimated rental vacancy rate of 4.2%.

The median rent in ZIP Code 08344 of $1,402 per month is 5% higher than the aggregate New Jersey median monthly rent of $1,334, and is 32% higher than the $1,062 the median monthly rent in the U.S. overall. About 54.4% of residents in ZIP Code 08344 pay between $1,000 and $1,499 per month for rent. That is 41% higher than in New Jersey overall, in which 38.7% of total state residents pay between $1,000 and $1,499 per month for housing. Only 2.5% of ZIP Code 08344 renters pay between $2,000 and $2,499 for monthly rent.

ZIP Code 08344 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 08344

See the chart below for a comparison of monthly rental costs in ZIP Code 08344, New Jersey, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 08344 along with those in the state of New Jersey and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 08344

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 08344 New Jersey U.S.
Less than $500 0.0% 8.0% 9.4%
$500 to $999 9.4% 16.0% 36.2%
$1,000 to $1,499 54.4% 38.7% 30.0%
$1,500 to $1,999 33.8% 22.0% 14.0%
$2,000 to $2,499 2.5% 8.5% 5.6%
$2,500 to $2,999 0.0% 3.6% 2.4%
$3,000 or more 0.0% 3.1% 2.4%

Rent Cost vs. Income in ZIP Code 08344

Renters in ZIP Code 08344 use an estimated 32.77% of their income to cover their monthly rent payments. That is about 8% higher than in New Jersey overall. The estimate for New Jersey overall is 30.35% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 08344 renters use about 10% more of their income to cover rent expense. Household income figures for ZIP Code 08344 come in lower than in New Jersey as a whole. The median annual household income in ZIP Code 08344 of $71,321 sits approximately 14% lower than the overall New Jersey median income of $82,545 and approximately 13% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 08344

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 08344, New Jersey, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 08344 along with the same calculations in the state of New Jersey and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 08344

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 08344 New Jersey U.S.
Less than 15.0 percent 11.3% 12.1% 13.1%
15.0 to 19.9 percent 0.0% 12.4% 12.9%
20.0 to 24.9 percent 18.1% 12.6% 12.9%
25.0 to 29.9 percent 12.5% 11.6% 11.6%
30.0 to 34.9 percent 5.6% 9.0% 9.1%
35.0 percent or more 52.5% 42.4% 40.5%

Household Income in ZIP Code 08344

See the table below for the regional comparison of annual household income in ZIP Code 08344.

Income ZIP 08344 New Jersey U.S.
Less than $10,000 2.8% 4.9% 6.0%
$10,000 to $14,999 0.7% 3.2% 4.3%
$15,000 to $24,999 7.8% 7.1% 8.9%
$25,000 to $34,999 8.5% 6.9% 8.9%
$35,000 to $49,999 15.4% 9.4% 12.3%
$50,000 to $74,999 17.3% 14.6% 17.2%
$75,000 to $99,999 15.0% 12.1% 12.7%
$100,000 to $149,999 17.6% 17.7% 15.1%
$150,000 to $199,999 9.2% 10.1% 6.8%
$200,000 or more 5.7% 14.0% 7.7%

Household Income in ZIP Code 08344

See the chart below for a comparison of annual household income figures in ZIP Code 08344, New Jersey, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 08344 alongside the same figures for the state of New Jersey and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 08344

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 08344.

ZIP 08344 New Jersey U.S.
Median Housing Rent $1,402 $1,334 $1,062
Renter-Occupied Housing Units 12.6% 36.1% 36.0%
Rental Vacancy Rate 4.2% 4.8% 6.0%
Average Size of Renter-Occupied Unit 2.53 2.50 2.49
Average # of Bedrooms Per Unit 2.65 2.75 2.75
Percent of Income Spent on Rent 32.77% 30.35% 29.83%
Per Capita Income $36,414 $42,745 $34,103
Median Household Income $87,675 $114,691 $88,607
Living Below the Poverty Line 3.8% 7.2% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 08344

In ZIP Code 08344 (Newfield, NJ), and estimated 12.6% of housing units are occupied by renters. This region has an approximate rental vacany rate of 4.2%.

The per capita income in 08344 is estimated at $36,414, which goes along with an estimated median household income of $87,675. About 3.8% of residents in this Gloucester County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.53 occupants, while the units have an aggregate average size of 2.65 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 32.77% of their income on housing rental costs.

Rental FAQs for ZIP Code 08344

1

What is the median monthly rent in ZIP Code 08344?

Median rent for housing in ZIP Code 08344 in Gloucester County in New Jersey is approximately $1,402 per month.
2

Is it expensive to rent in ZIP Code 08344?

Rent in ZIP Code 08344 is higher than average in the state of New Jersey overall. The median monthly rent of $1,402 in ZIP Code 08344 is approximately 5% higher than the New Jersey median of $1,334. Additionally, median rent in this Newfield, NJ region ($1,402) is about 32% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 08344?

High-priced rentals are not common in the Newfield, NJ ZIP Code of 08344, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of New Jersey overall, approximately 3.1% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 08344?

Affordable rentals are less common in ZIP Code 08344 than in New Jersey overall. The percentage of housing rentals in ZIP Code 08344 costing $999 or less per month (9.4%) is approximately 61% lower than the New Jersey rate of 24% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 79% higher than the previously mentioned 08344 rate of 9.4%.
5

What is the most common cost range that rentals fall into in ZIP Code 08344?

The most common range for rental cost in ZIP Code 08344 is between $1,000 and $1,499 per month. About 54.4% of renters in 08344 pay in this range for monthly rent. In comparison, approximately 38.7% of renters in the state of New Jersey fall in the between $1,000 and $1,499 range, and 30.0% of overall U.S. renters fall in this range.
6

Does ZIP Code 08344 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 08344 is lower than the rental vacancy rate in the state of New Jersey overall. Rental vacancy of 4.2% in ZIP Code 08344 is about 13% lower than the New Jersey rate of 4.8%. Looking more broadly, rental vacancy in this Newfield, NJ region (4.2%) is an estimated 30% lower than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 08344? How does it compare to other New Jersey regions?

Median household income in ZIP Code 08344 is lower than in the state of New Jersey overall. Annual household income of $71,321 in ZIP Code 08344 is about 14% lower than the New Jersey median of $82,545. Additionally, median household income in this Newfield, NJ region ($71,321) is approximately 13% higher than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 08344 spend on housing costs?

Renters in ZIP Code 08344 spend a higher amount of their income on rent costs than do renters in New Jersey overall. Renters in ZIP Code 08344 spend an estimated 32.77% of their income on rent payments, which is about 8% higher than the overall New Jersey estimated rate of 30.35%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 10% lower than the ZIP Code 08344 estimated rate of 32.77%.
9

Do renters in ZIP Code 08344 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 08344 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 08344 spending 30 percent or more of their income on rent costs (58.1%) is approximately 13% higher than the New Jersey rate of 51.4% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 17% lower than the aforementioned 08344 rate of 58.1%.
10

What is the average household size of renter-occupied units in ZIP Code 08344?

The average household size of renter-occupied units in ZIP Code 08344 is higher than in the state of New Jersey overall. Annual household size of 2.53 in ZIP Code 08344 is about 1% higher than the New Jersey median of 2.50. Additionally, median household size in this Newfield, NJ region (2.53) is approximately 2% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other New Jersey ZIP Codes