Average Rent in 07103, Newark, NJ

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Current Versus Historical 07103, Newark, NJ Rents

07103 rentals average $0 for a studio rental to $2,725 for a 4-bedroom rental. The median price of all currently available listings is $2,450, or roughly $0 per square feet.

For the apartment units and housing in April 2024, median rents have risen substantially over the last year. Studio rentals prices have decreased by $165 (-8.17%) year-over-year from $2,017 to $1,852. 1-bedroom rentals prices have increased by $692 (49.11%) year-over-year from $1,408 to $2,100. 2-bedroom rentals prices have increased by $350 (21.21%) year-over-year from $1,650 to $2,000. 3-bedroom rentals prices have increased by $472 (25.11%) year-over-year from $1,878 to $2,350. 4-bedroom rentals prices have decreased by $150 (-5.26%) year-over-year from $2,850 to $2,700. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 0.38% this month. 1-bedroom rents have gone up by 16.13% this month. 2-bedroom rents have gone down by 2.79% this month. 3-bedroom rents have gone down by 0.70% this month. 4-bedroom rents have gone up by 12.89% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	N/A	$2,100	$1,408 (49.11%)	$1,221 (72.01%)
2 BR	N/A	$2,000	$1,650 (21.21%)	$1,508 (32.67%)
3 BR	N/A	$2,350	$1,878 (25.11%)	$1,673 (40.44%)
4+ BR	N/A	$2,700	$2,850 (-5.26%)	$2,074 (30.20%)

Historical Rents in 07103, Newark, NJ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near 07103

There are a total of 11 cities nearby 07103. The average rent in 07103 is currently $2,700 per month. A total of 5 cities nearby have an average rent lower than that. Our records show that Newark, NJ, with an average rent of $2,300, is the most affordable city nearby. In contrast, the most expensive city near 07103, Newark, NJ is Hoboken, NJ. Monthly rents here are on average $3,600 per month.

Let's compare 07103, Newark, NJ's rent against other top cities nearby by bedroom size. Typically, rent for studios in 07103, Newark, NJ is inf% more affordable than other cities nearby. One bedrooms are about 2.38% more affordable. Two bedrooms in 07103, Newark, NJ are about 0.09% more affordable. Finally, rent for three bedrooms are about 18.75% more affordable. Want more information? Check out the top 10 cities out of 11 total cities near 07103, Newark, NJ in the following chart.

City	Studio	1 Bed	2 Bed	All
Newark, NJ	$2,050	$2,074	$2,100	$2,300
Hackensack, NJ	$1,600	$1,963	$2,700	$2,325
East Orange, NJ	$1,650	$1,963	$2,625	$2,400
Elizabeth, NJ	N/A	$1,725	$2,300	$2,400
Bayonne, NJ	$2,325	$2,057	$2,422	$2,400
Jersey City, NJ	$2,800	$2,600	$2,650	$2,700
West New York, NJ	N/A	$2,525	$2,850	$2,700
Union City, NJ	$1,900	$2,250	$2,800	$2,775
Cliffside Park, NJ	N/A	$2,150	$3,100	$3,000
Hoboken, NJ	$3,055	$3,177	$4,150	$3,600

Top Neighborhoods Near 07103

There are a total of 34 neighborhoods in or near 07103. Some of these neighborhoods include The Heights, Clinton Hill, and The Waterfront. We've included the top 30 neighborhoods out of 34 total neighborhoods in or near 07103, Newark, NJ in the following chart.

The average rent for these 30 neighborhoods in or near 07103, Newark, NJ is currently around $4,825 per month. A total of one neighborhood has a lower average rent. Meaning, only twenty-nine neighborhoods have a higher average rent than $4,825. Interestingly, the neighborhoods' average rent is higher than 07103's average rent, which is only $2,450. Out of all the neighborhoods in or near 07103, Bergen - Lafayette has the most affordable average rent at $2,425 per month. Whereas, at $7,950 average rent per month, SoHo is the most expensive neighborhood in or near 07103. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
The Heights, Jersey City, NJ	N/A	$2,200	$2,560	$2,650
Clinton Hill, New York, NY	$3,050	$3,550	$6,173	$3,600
The Waterfront, Jersey City, NJ	$3,026	$3,505	$5,273	$3,656
Brooklyn Heights, New York, NY	$3,750	$3,995	$6,400	$3,995
Bowery, New York, NY	$2,870	$3,995	$4,000	$3,995
Downtown Brooklyn, New York, NY	$3,380	$4,166	$5,880	$4,132
Prospect Heights, New York, NY	$3,612	$4,420	$6,018	$4,300
Financial District, New York, NY	$3,515	$4,500	$6,463	$4,325
Hell's Kitchen, New York, NY	$3,500	$4,039	$6,131	$4,450
East Village, New York, NY	$2,775	$3,600	$4,495	$4,495
NoLita, New York, NY	$3,795	$4,495	$4,995	$4,495
Midtown East, New York, NY	$3,500	$4,200	$5,595	$4,500
West Village, New York, NY	$4,750	$4,750	$6,750	$4,795
Greenwich Village, New York, NY	$4,150	$4,800	$5,075	$4,800
Murray Hill, New York, NY	$3,550	$4,300	$6,600	$4,892
Kips Bay, New York, NY	$3,795	$4,095	$5,310	$4,950
Flatiron District, New York, NY	$4,050	$5,873	$8,571	$4,995
Upper West Side, New York, NY	$3,218	$4,475	$6,529	$4,995
Midtown South, New York, NY	$3,785	$4,995	$6,876	$5,000
Little Italy, New York, NY	$3,900	$5,000	$5,500	$5,000
Hudson Yards, New York, NY	$3,763	$4,495	$6,900	$5,005
Battery Park City, New York, NY	$3,575	$4,539	$6,225	$5,048
Lower East Side, New York, NY	$3,748	$3,595	$4,495	$5,195
Chelsea, New York, NY	$3,931	$5,495	$7,915	$5,202
Midtown, New York, NY	$3,607	$4,400	$6,895	$5,500
NoMad, New York, NY	$4,455	$5,598	$8,728	$5,665
Stuyvesant Town - Peter Cooper Village, New York, NY	N/A	$5,067	$6,127	$5,802
Gramercy Park, New York, NY	$3,815	$5,185	$5,295	$6,100
Tribeca, New York, NY	$4,250	$5,975	$7,245	$6,895
SoHo, New York, NY	$4,850	$3,950	$15,375	$7,950

Top Counties Near 07103

There are a total of 34 counties located by 07103, Newark, NJ. Some of these counties include Irvington, NJ, Newark, NJ, and East Orange, NJ. The average rent for rentals in these counties is $2,700. That's roughly around $3 per sqft. A total of 6 counties have a lower average rent. The county that is the most affordable is Irvington, NJ. It's average rent per month is $2,150. Vice versa, with an average rent of $4,600, Manhattan, New York, NY is the most expensive county by 07103, Newark, NJ.

Typically, rent for studios in 07103, Newark, NJ is inf% more affordable than other counties nearby. In comparison, rent for one bedroom listings in 07103, Newark, NJ is 1.19% more affordable than other counties nearby. Finally, rent for two bedrooms in 07103, Newark, NJ is 0.09% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Irvington, NJ	$1,625	$1,625	$2,000	$2,150
Newark, NJ	$2,050	$2,074	$2,100	$2,300
East Orange, NJ	$1,650	$1,963	$2,625	$2,400
Elizabeth, NJ	N/A	$1,725	$2,300	$2,400
Bayonne, NJ	$2,325	$2,057	$2,422	$2,400
Montclair, NJ	$1,963	$1,920	$2,675	$2,700
Jersey City, NJ	$2,800	$2,600	$2,650	$2,700
Union City, NJ	$1,900	$2,250	$2,800	$2,775
North Bergen, NJ	$2,149	$2,125	$2,875	$2,850
Hoboken, NJ	$3,055	$3,177	$4,150	$3,600

Top Zipcodes Near 07103

There are a total of 40 zipcodes in or near 07103, Newark, NJ. The average rent for all of these zipcodes is $4,448. A total of 3 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 07111, Essex County, NJ at $2,150 per month. In comparison, the zipcode with the most expensive average rent of $6,898 per month is 10013, New York, NY.

Studios in these zipcodes have an average rent of $3,499. That's at least $7 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near 07103, Newark, NJ is $4,198 per month. Or in other words, $7 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,750 per month. Which comes out to $6 per sqft. The following chart includes the top 10 zipcodes in 07103, Newark, NJ. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
10016, New York, NY	$3,695	$4,209	$5,900	$4,700
10003, New York, NY	$3,815	$4,800	$5,095	$4,950
10019, New York, NY	$3,525	$4,200	$6,500	$4,693
10009, New York, NY	$2,625	$3,625	$4,495	$4,495
10038, New York, NY	$3,555	$4,500	$6,400	$4,405
10022, New York, NY	$3,350	$4,500	$5,100	$4,500
10005, New York, NY	$3,535	$4,600	$6,410	$4,256
10011, New York, NY	$3,600	$5,568	$6,495	$4,750
10017, New York, NY	$4,000	$4,100	$7,366	$5,045
10010, New York, NY	$4,050	$4,700	$5,405	$5,336

Frequently Asked Questions - 07103 Average Rents

What is the average rent price in 07103, Newark, NJ?

The average monthly rental price for 07103, Newark, NJ apartments for rent is approximately $2,450. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 07103, Newark, NJ rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 07103, Newark, NJ.

How much is a studio apartment in 07103, Newark, NJ?

The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 1 studio apartment listings currently available for rent in 07103.

How much is a one bedroom apartment in 07103, Newark, NJ?

The average monthly rental price for one bedroom apartments is $2,100 and an average price per square feet of $0. There are a total of 9 one bedroom apartment listings currently available for rent in 07103.

How much is a two bedroom apartment in 07103, Newark, NJ?

The average monthly rental price for two bedroom apartments is $2,698 and an average price per square feet of $0. There are a total of 8 two bedroom apartment listings currently available for rent in 07103.

How have rent prices in 07103, Newark, NJ changed this year?

Rent prices for rentals in 07103, Newark, NJ can fluctuate yearly. Specifically, studio rental prices have changed by -0.08%, one bedroom rental prices have changed by 0.49%, two bedroom rental prices have changed by 0.21%, and three bedroom rental prices have changed by 0.25% year-over-year.

What is a reasonable rent price in 07103, Newark, NJ?

A reasonable rent price in 07103, Newark, NJ is around $1,960/month. You can search for these reasonably priced rental listings on RentHop.