Average Rent in 07111, Essex County, NJ

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Current Versus Historical 07111, Essex County, NJ Rents

07111 rentals average $1,525 for a studio rental to $0 for a 4-bedroom rental. The median price of all currently available listings is $2,200, or roughly $0 per square feet.

For the apartment units and housing in May 2024, median rents have risen substantially over the last year. Studio rentals prices have decreased by $767 (-31.72%) year-over-year from $2,417 to $1,650. 1-bedroom rentals prices have increased by $211 (15.27%) year-over-year from $1,384 to $1,595. 2-bedroom rentals prices have increased by $358 (21.83%) year-over-year from $1,642 to $2,000. 3-bedroom rentals prices have increased by $442 (22.55%) year-over-year from $1,958 to $2,400. 4-bedroom rentals prices have increased by $308 (12.63%) year-over-year from $2,442 to $2,750. 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 47.20% this month. 1-bedroom rents have gone up by 4.70% this month. 2-bedroom rents have gone up by 5.08% this month. 3-bedroom rents have gone up by 7.54% this month. 4-bedroom rents have gone down by 1.79% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	N/A	$1,650	$2,417 (-31.72%)	$1,700 (-2.94%)
1 BR	N/A	$1,595	$1,384 (15.27%)	$1,317 (21.14%)
2 BR	N/A	$2,000	$1,642 (21.83%)	$1,433 (39.53%)
3 BR	N/A	$2,400	$1,958 (22.55%)	$1,645 (45.90%)

Historical Rents in 07111, Essex County, NJ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near 07111

There are a total of 14 cities nearby 07111. The average rent in 07111 is currently $2,800 per month. Our records show that East Orange, NJ, with an average rent of $2,300, is the most affordable city nearby. In contrast, the most expensive city near 07111, Essex County, NJ is New York, NY. Monthly rents here are on average $4,432 per month.

Let's compare 07111, Essex County, NJ's rent against other top cities nearby by bedroom size. Typically, rent for studios in 07111, Essex County, NJ is 14.75% more affordable than other cities nearby. One bedrooms are about 34.59% more affordable. Two bedrooms in 07111, Essex County, NJ are about 37.44% more affordable. Finally, rent for three bedrooms are about 40.92% more affordable. Want more information? Check out the top 10 cities out of 14 total cities near 07111, Essex County, NJ in the following chart.

City	Studio	1 Bed	2 Bed	All
East Orange, NJ	$1,700	$1,875	$2,600	$2,300
Newark, NJ	$1,975	$2,050	$2,100	$2,300
Hackensack, NJ	$1,800	$2,000	$2,748	$2,300
Elizabeth, NJ	N/A	$1,700	$2,163	$2,400
Bayonne, NJ	$2,275	$2,025	$2,529	$2,500
West New York, NJ	$1,700	$2,413	$2,825	$2,600
Jersey City, NJ	$2,772	$2,700	$2,664	$2,800
Union City, NJ	$1,850	$2,325	$2,800	$2,800
Cliffside Park, NJ	N/A	$2,150	$3,348	$3,348
Hoboken, NJ	$2,350	$3,175	$3,850	$3,566

Top Neighborhoods Near 07111

There are a total of 48 neighborhoods in or near 07111. Some of these neighborhoods include Flatbush, Washington Heights, and East Harlem. We've included the top 30 neighborhoods out of 48 total neighborhoods in or near 07111, Essex County, NJ in the following chart.

The average rent for these 30 neighborhoods in or near 07111, Essex County, NJ is currently around $4,443 per month. Meaning, only thirty neighborhoods have a higher average rent than $4,443. Interestingly, the neighborhoods' average rent is higher than 07111's average rent, which is only $2,200. Out of all the neighborhoods in or near 07111, The Heights has the most affordable average rent at $2,700 per month. Whereas, at $7,950 average rent per month, SoHo is the most expensive neighborhood in or near 07111. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Flatbush, New York, NY	$2,790	$2,995	$3,200	$3,200
Washington Heights, New York, NY	$2,150	$2,200	$2,995	$3,250
East Harlem, New York, NY	$2,975	$3,083	$3,195	$3,295
Harlem, New York, NY	$2,650	$2,900	$3,195	$3,395
Bedford-Stuyvesant, New York, NY	$2,446	$2,770	$3,395	$3,399
West Harlem, New York, NY	$2,650	$2,850	$3,085	$3,400
Bushwick, New York, NY	$2,650	$2,895	$3,350	$3,450
Crown Heights, New York, NY	$2,822	$2,648	$3,675	$3,675
Long Island City, New York, NY	$3,323	$3,995	$5,960	$3,950
Upper East Side, New York, NY	$2,850	$3,395	$5,326	$4,000
Murray Hill, New York, NY	$3,436	$4,200	$6,200	$4,200
Downtown Brooklyn, New York, NY	$3,400	$4,250	$5,818	$4,255
Prospect Heights, New York, NY	$3,595	$4,380	$5,999	$4,295
Financial District, New York, NY	$3,610	$4,500	$6,495	$4,391
Hudson Yards, New York, NY	$3,634	$4,330	$6,995	$4,500
Hell's Kitchen, New York, NY	$3,513	$4,038	$6,000	$4,556
Midtown East, New York, NY	$3,400	$4,385	$5,644	$4,695
Williamsburg, New York, NY	$3,775	$4,642	$4,650	$4,750
Greenwich Village, New York, NY	$4,100	$4,800	$5,050	$4,800
West Village, New York, NY	$3,900	$5,250	$6,750	$4,800
East Village, New York, NY	$2,843	$3,650	$4,598	$4,900
Upper West Side, New York, NY	$3,314	$4,438	$6,959	$4,900
Midtown South, New York, NY	$3,525	$5,000	$6,865	$5,000
Kips Bay, New York, NY	$3,850	$4,075	$5,420	$5,150
Lower East Side, New York, NY	$2,685	$3,495	$4,495	$5,195
Chelsea, New York, NY	$3,735	$5,495	$7,793	$5,398
NoMad, New York, NY	$4,432	$5,585	$8,314	$5,675
Gramercy Park, New York, NY	$3,795	$5,043	$5,415	$6,395
Midtown, New York, NY	$3,250	$4,400	$6,650	$6,395
Tribeca, New York, NY	$4,425	$5,819	$7,348	$6,800

Top Counties Near 07111

There are a total of 48 counties located by 07111, Essex County, NJ. Some of these counties include East Orange, NJ, Newark, NJ, and Elizabeth, NJ. The average rent for rentals in these counties is $2,800. That's roughly around $3 per sqft. The county that is the most affordable is Newark, NJ. It's average rent per month is $2,300. Vice versa, with an average rent of $4,600, Manhattan, New York, NY is the most expensive county by 07111, Essex County, NJ.

Typically, rent for studios in 07111, Essex County, NJ is 18.03% more affordable than other counties nearby. In comparison, rent for one bedroom listings in 07111, Essex County, NJ is 29.32% more affordable than other counties nearby. Finally, rent for two bedrooms in 07111, Essex County, NJ is 37.50% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
East Orange, NJ	$1,700	$1,875	$2,600	$2,300
Newark, NJ	$1,975	$2,050	$2,100	$2,300
Elizabeth, NJ	N/A	$1,700	$2,163	$2,400
Bayonne, NJ	$2,275	$2,025	$2,529	$2,500
West New York, NJ	$1,700	$2,413	$2,825	$2,600
Jersey City, NJ	$2,772	$2,700	$2,664	$2,800
Union City, NJ	$1,850	$2,325	$2,800	$2,800
North Bergen, NJ	$2,300	$2,100	$2,850	$2,800
Hoboken, NJ	$2,350	$3,175	$3,850	$3,566
Manhattan, New York, NY	$3,599	$4,346	$5,696	$4,600

Top Zipcodes Near 07111

There are a total of 49 zipcodes in or near 07111, Essex County, NJ. The average rent for all of these zipcodes is $4,368.

The following chart includes the top 10 zipcodes in 07111, Essex County, 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	$3,650	$4,200	$5,775	$4,535
10003, New York, NY	$3,815	$4,800	$5,200	$5,500
10019, New York, NY	$3,500	$4,285	$6,500	$4,980
10009, New York, NY	$2,700	$3,695	$4,595	$4,750
10128, New York, NY	$3,095	$3,725	$5,725	$4,200
10038, New York, NY	$3,575	$4,500	$6,423	$4,500
10022, New York, NY	$3,448	$4,543	$5,497	$4,635
10005, New York, NY	$3,680	$4,650	$6,540	$4,370
10011, New York, NY	$3,750	$5,516	$6,700	$4,500
10010, New York, NY	$4,050	$4,765	$5,495	$5,500

Frequently Asked Questions - 07111 Average Rents

What is the average rent price in 07111, Essex County, NJ?

The average monthly rental price for 07111, Essex County, NJ apartments for rent is approximately $2,200. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 07111, Essex County, 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 07111, Essex County, NJ.

How much is a studio apartment in 07111, Essex County, NJ?

The average monthly rental price for studio apartments is $1,525 and an average price per square feet of $0. There are a total of 2 studio apartment listings currently available for rent in 07111.

How much is a one bedroom apartment in 07111, Essex County, NJ?

The average monthly rental price for one bedroom apartments is $1,663 and an average price per square feet of $0. There are a total of 6 one bedroom apartment listings currently available for rent in 07111.

How much is a two bedroom apartment in 07111, Essex County, NJ?

The average monthly rental price for two bedroom apartments is $2,000 and an average price per square feet of $0. There are a total of 16 two bedroom apartment listings currently available for rent in 07111.

How have rent prices in 07111, Essex County, NJ changed this year?

Rent prices for rentals in 07111, Essex County, NJ can fluctuate yearly. Specifically, studio rental prices have changed by -0.32%, one bedroom rental prices have changed by 0.15%, two bedroom rental prices have changed by 0.22%, and three bedroom rental prices have changed by 0.23% year-over-year.

What is a reasonable rent price in 07111, Essex County, NJ?

A reasonable rent price in 07111, Essex County, NJ is around $1,760/month. You can search for these reasonably priced rental listings on RentHop.