Rental Housing In Verona

By on December 16, 2017

Verona likes to think of itself as a town of single-family homes, but we also have a mid-size market for rental housing.

According to data from the U.S. Census Bureau’s American Community Survey, there were 1,147 rental units in Verona for the four-year period that ended in 2016. That’s far less than in Montclair–where there were 6,310 rental units–and the larger, more urban towns of Essex County. NJSpotlight.com, which recently analyzed the Census Data, found that our median rent of $1,392 was above the state median of $1,213 per month and, what may be worse, that Verona rents have risen substantially more than inflation since the last American Community Survey.

As Verona wrangles with how to incorporate more affordable housing into our already over-developed market, the statistics on rentals make for some interesting reading.

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