New Jersey S2088 requires the Council on Affordable Housing to calculate affordable housing obligations on a Statewide basis.
New Jersey S2088 changes the method for calculating affordable housing obligations from a local to a Statewide perspective. The Council on Affordable Housing (COAH) will now determine these obligations based on Statewide metrics rather than local ones. Additionally, COAH must submit a report every five years detailing housing affordability. This report will calculate the ratio of the median cost to maintain a home, including property taxes, mortgage rates, payments, insurance, utilities, and other factors, to the median income for the State.
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