Simonsen Introduces Housing Affordability Package Focused on New Jersey Seniors

Legislation would increase ANCHOR relief for senior renters and bring greater transparency to rent increases

Assemblyman Erik Simonsen has introduced a two-bill housing affordability package aimed at helping New Jersey seniors remain in the communities they call home, with a particular focus on older residents who rent and may not benefit from homeowner-focused property tax relief programs.

The first measure would significantly increase ANCHOR benefits for qualifying senior renters. Beginning in Fiscal Year 2028, New Jersey residents age 65 or older who rent their primary residence and have gross income of $150,000 or less would receive an ANCHOR benefit of at least $1,500.

Under the current program, eligible renters receive $450, with seniors receiving an additional $250, for a total benefit of $700. Simonsen’s legislation would more than double that amount for qualifying senior renters.

”We have made major commitments to helping seniors afford to stay in their homes, but being a renter shouldn’t mean you are left behind,” said Assemblyman Erik Simonsen. “A senior living on a fixed income feels every increase in housing costs. Whether you own your home or rent it, you deserve a fair shot at staying in the community where you built your life.”

The second measure, the Rental Transparency Act, would require owners of multiple dwellings to report rent increases to the Department of Community Affairs when tenants are notified of an increase. The disclosure would include the previous rent, new rent, percentage increase, effective date and whether the increase applies to an existing or new tenant.

DCA would then maintain a publicly accessible residential rent dashboard showing average rent increases by municipality, county and statewide, as well as the share of increases falling into several percentage ranges.

“You cannot address affordability if you do not have a clear picture of what families and seniors are actually paying,” Simonsen said. “Transparency gives tenants information and gives policymakers real data. Pairing that with meaningful relief for senior renters gets to the larger goal: helping people afford to stay in New Jersey.”

Simonsen said the two proposals reflect a broader approach to senior affordability: provide meaningful financial relief while improving the information available to address rising housing costs over the long term.

“For seniors, home is more than an address,” Simonsen added. “It is where their doctors are, where their family is, where their friends are and where they have spent decades building a life. Our goal should be simple: New Jersey seniors who want to stay in their communities should have a realistic opportunity to do so.”