Newark Among the Worst Cities for Renters

Housing as a fundamental human right is becoming increasingly difficult to achieve and protect. Therefore, the issue of housing is always one of the most important objectives for communities and officials who seek a more equitable and humane development of society.

However, the housing issue is a national problem and is especially urgent in the Newark, New Jersey area. In this city, high housing costs and interest rates are making it increasingly difficult for many families to achieve this necessary right.

As a general rule, due to the high costs of purchasing homes, long-term rental contracts are becoming the most affordable way to have a home. However, as the real estate market indicates, this is not the cheapest or most affordable way to live.

This difficulty was recently highlighted by a study conducted by Forbes Advisor, which reveals that the state of New Jersey, and particularly the city of Newark, is among the American areas where the housing situation is least favorable for the resident population.

According to the findings, acquiring a rental property in Newark is perhaps one of the greatest challenges a person can face when looking for how and where to live. Currently, the city has a housing deficit for rent, and the few that are available have excessively high prices, leaving the real estate market unable to meet the high demand.

Forbes Advisor also notes, for the second consecutive time, that Newark is among the least favorable cities for renters in the entire United States. One of the factors that helped it secure a position in the mentioned survey is the disproportionate increase in rental prices. Additionally, the survey has included it among the top 95 cities with the worst ratings in both amenities and availability.

To arrive at this rating, the team used different parameters that allowed them to measure the favorability of cities for renters, focusing on points such as availability, services, affordability, comfort, safety, and the lifestyle of each city.

It is then up to the authorities of the state of New Jersey and Newark to work on these critical points to create policies and measures that help their residents have the ability to obtain affordable housing, whether by purchasing or through rental contracts. Therefore, it is urgent to prioritize ensuring safe, affordable, and stable housing.

Available Foreclosures:

Newark: 120 houses available.

By Elías DaSilva | 28 de octubre de 2024