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Average Rent in 08402, Margate City, NJ

Home  »  NJ  »  Margate City  »  08402

Current Versus Historical 08402, Margate City, NJ Rents

08402 rentals average $16,000 for a studio rental to $24,000 for a 4-bedroom rental. The median price of all currently available listings is $19,000, or roughly $13 per square feet.
For the apartment units and housing in April 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $2,000 (-21.05%) year-over-year from $9,500 to $7,500. 1-bedroom rentals prices have decreased by $4,217 (-29.66%) year-over-year from $14,217 to $10,000. 2-bedroom rentals prices have decreased by $1,083 (-5.99%) year-over-year from $18,083 to $17,000. 3-bedroom rentals prices have decreased by $1,667 (-7.69%) year-over-year from $21,667 to $20,000. 4-bedroom rentals prices have decreased by $14,500 (-38.67%) year-over-year from $37,500 to $23,000. 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 2.17% this month. 1-bedroom rents have gone down by 4.76% this month. 2-bedroom rents have gone down by 3.77% this month. 3-bedroom rents have gone down by 14.29% this month. 4-bedroom rents have gone down by 11.54% this month.
Beds
Price / Sqft
 Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio N/A $7,500 $9,500 (-21.05%) $14,000 (-46.43%)
1 BR $11.23 $10,000 $14,217 (-29.66%) $16,250 (-38.46%)
2 BR $10.83 $17,000 $18,083 (-5.99%) $15,667 (8.51%)
3 BR $15.56 $20,000 $21,667 (-7.69%) $27,667 (-27.71%)
4+ BR $14.50 $23,000 $37,500 (-38.67%) $29,333 (-21.59%)

Historical Rents in 08402, Margate City, NJ

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near 08402

There are a total of 2 cities nearby 08402. The average rent in 08402 is currently $16,000 per month. A total of 2 cities nearby have an average rent lower than that. Our records show that Ventnor City, NJ, with an average rent of $13,000, is the most affordable city nearby. In contrast, the most expensive city near 08402, Margate City, NJ is Margate City, NJ. Monthly rents here are on average $19,000 per month.

Let's compare 08402, Margate City, NJ's rent against other top cities nearby by bedroom size. Typically, rent for studios in 08402, Margate City, NJ is 10.94% more expensive than other cities nearby. One bedrooms are about 3.74% more affordable. Two bedrooms in 08402, Margate City, NJ are about 25.00% more expensive. Finally, rent for three bedrooms are about 22.50% more expensive. Want more information? Check out the top 2 cities near 08402, Margate City, NJ in the following chart.
City Studio 1 Bed 2 Bed All
Ventnor City, NJ $12,500 $9,350 $8,750 $13,000
Margate City, NJ $16,000 $8,700 $17,500 $19,000

Top Neighborhoods Near 08402

There are a total of 1 neighborhoods in or near 08402. We've included all of these top 1 neighborhoods in or near 08402, Margate City, NJ in the following chart.

The average rent for these 1 neighborhoods in or near 08402, Margate City, NJ is currently around $14,000 per month. A total of one neighborhood has a lower average rent. Out of all the neighborhoods in or near 08402, Lower Chelsea has the most affordable average rent at $14,000 per month. Whereas, at $14,000 average rent per month, Lower Chelsea is the most expensive neighborhood in or near 08402. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Lower Chelsea, Atlantic City, NJ $12,250 $9,000 $15,000 $14,000

Top Counties Near 08402

There are a total of 1 counties located by 08402, Margate City, NJ.

We've listed the top 0 counties in the chart below.
County Studio 1 Bed 2 Bed All

Top Zipcodes Near 08402

There is one zipcode in or near 08402, Margate City, NJ. The average rent for this zipcode is $13,000.

The following chart includes the zipcode in or near 08402, Margate City, NJ. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
08406, Ventnor City, NJ $12,500 $9,350 $8,750 $13,000

Frequently Asked Questions - 08402 Average Rents

What is the average rent price in 08402, Margate City, NJ?
The average monthly rental price for 08402, Margate City, NJ apartments for rent is approximately $19,000. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do 08402, Margate City, 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 08402, Margate City, NJ.
How much is a studio apartment in 08402, Margate City, NJ?
The average monthly rental price for studio apartments is $16,000 and an average price per square feet of $0. There are a total of 7 studio apartment listings currently available for rent in 08402.
How much is a one bedroom apartment in 08402, Margate City, NJ?
The average monthly rental price for one bedroom apartments is $8,700 and an average price per square feet of $11.23. There are a total of 29 one bedroom apartment listings currently available for rent in 08402.
How much is a two bedroom apartment in 08402, Margate City, NJ?
The average monthly rental price for two bedroom apartments is $17,500 and an average price per square feet of $10.83. There are a total of 48 two bedroom apartment listings currently available for rent in 08402.
How have rent prices in 08402, Margate City, NJ changed this year?
Rent prices for rentals in 08402, Margate City, NJ can fluctuate yearly. Specifically, studio rental prices have changed by -0.21%, one bedroom rental prices have changed by -0.30%, two bedroom rental prices have changed by -0.06%, and three bedroom rental prices have changed by -0.08% year-over-year.
What is a reasonable rent price in 08402, Margate City, NJ?
A reasonable rent price in 08402, Margate City, NJ is around $15,200/month. You can search for these reasonably priced rental listings on RentHop.
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