Quick facts: Trenton, NJ

Quick Facts

112.9
Cost of Living
above US average
89,661
Population
29.56
Crime Rate per 1000
above US average
$44,444
Median Income
below US average
$485,000
Median House Price
above US average
$2816.67
Average Rent
above US average
23%
Poverty Rate
above US average
6.6%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $44,444.

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Income Needed to Buy

βœ— Stretch
$152k/year
Based on $485,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $152k vs median $44,444
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Income Needed to Rent

⚠ Stretch
$121k/year
Based on $2816.67/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $121k vs median $44,444
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Trenton, NJ

Trenton, the capital city of New Jersey, is rich in history and culture. Situated in Mercer County, Trenton plays a pivotal role in the state's political landscape. With a population of around 83,000, it is characterized by a diverse community and a mix of urban and suburban environments. The city is known for its significant historical landmarks, including the New Jersey State House, which dates back to the 18th century, and the Old Barracks Museum, showcasing the city’s colonial past. Trenton is also home to the Delaware River, providing scenic views and opportunities for outdoor activities. Culturally, Trenton has a vibrant arts scene, featuring various galleries, theaters, and festivals that celebrate its rich heritage. The city hosts several events annually, such as the Trenton Punk Rock Flea Market and the Turkey Trot, enhancing community engagement. Economically, Trenton has faced challenges but is seeing revitalization efforts aimed at boosting local businesses and improving infrastructure. With its strategic location between Philadelphia and New York City, Trenton remains a hub for transportation and commerce in the region.

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