What to Know
- Gov. Phil Murphy announced Thursday that the New Jersey Housing and Mortgage Finance Agency has unanimously voted to suspend rent increases at all eligible properties within its portfolio during the COVID-19 crisis
- This action includes 36,000 rental units across the state and benefits thousands of low- and moderate-income families, Murphy said
- Homeowners and renters whose ability to pay their mortgage or rent has been impacted by COVID-19 can obtain free housing counseling to help prevent possible eviction or foreclosure. For a full list of participating housing counselors and more details on the program, click here
Gov. Phil Murphy announced Thursday that the New Jersey Housing and Mortgage Finance Agency has unanimously voted to suspend rent increases at all eligible properties within its portfolio during the COVID-19 crisis.
This action includes 36,000 rental units across the state and benefits thousands of low- and moderate-income families, Murphy said.
"Many New Jerseyans are now facing the difficult financial realities of unemployment and a loss of income due to COVID-19," Murphy said. "With this action, thousands of low- and moderate-income families, who have been among the most-economically impacted during this crisis, will not have to fear a rent increase."
The NJHMFA is dedicated to increasing the availability of and accessibility to safe, decent and affordable housing in the state.
The suspension of rent increases will remain in place until New Jersey's State of Emergency ends. Afterwards, eligible properties in the NJHMFA’s portfolio seeking rent increases of up to 1.4% may do so only after 30-day notice is provided to the agency and residents. However, any request in excess of this amount must first be reviewed and approved by NJHMFA staff.
Homeowners and renters whose ability to pay their mortgage or rent has been impacted by COVID-19 can obtain housing counseling to help prevent possible eviction or foreclosure. These services are available for free. For a full list of participating housing counselors and more details on the program, click here.
