Average Rent in Elizabeth, NJ

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Current Versus Historical Elizabeth, NJ Rents

Elizabeth rentals average $1,861 for a studio rental to $4,250 for a 4-bedroom rental. The median price of all currently available listings is $2,400, or roughly $2 per square feet.
For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $675 (35.53%) year-over-year from $1,900 to $2,575. 1-bedroom rentals prices have decreased by $23 (-1.34%) year-over-year from $1,685 to $1,663. 2-bedroom rentals prices have increased by $256 (12.99%) year-over-year from $1,969 to $2,225. 3-bedroom rentals prices have increased by $67 (2.74%) year-over-year from $2,433 to $2,500. 4-bedroom rentals prices have increased by $692 (27.57%) year-over-year from $2,508 to $3,200. 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 up by 18.85% this month. 1-bedroom rents have gone down by 3.74% this month. 2-bedroom rents have gone down by 0.74% this month. 3-bedroom rents have gone down by 1.32% this month. 4-bedroom rents have gone up by 7.87% this month.
Beds
Price / Sqft
Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio N/A $2,575 $1,900 (35.53%) $1,983 (29.83%)
1 BR N/A $1,663 $1,685 (-1.34%) $1,758 (-5.42%)
2 BR $2.37 $2,225 $1,969 (12.99%) $1,998 (11.38%)
3 BR $1.02 $2,500 $2,433 (2.74%) $1,858 (34.53%)
4+ BR N/A $3,200 $2,508 (27.57%) $2,267 (41.18%)

Historical Rents in Elizabeth, NJ

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Elizabeth

There are a total of 4 cities nearby Elizabeth. The average rent in Elizabeth is currently $2,550 per month. A total of 2 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 Elizabeth, NJ is Hoboken, NJ. Monthly rents here are on average $3,700 per month.

Let's compare Elizabeth, NJ's rent against other top cities nearby by bedroom size. Typically, rent for studios in Elizabeth, NJ is 38.13% more affordable than other cities nearby. One bedrooms are about 33.06% more affordable. Two bedrooms in Elizabeth, NJ are about 10.25% more affordable. Finally, rent for three bedrooms are about 3.85% more affordable. Want more information? Check out the top 4 cities near Elizabeth, NJ in the following chart.
City Studio 1 Bed 2 Bed All
Newark, NJ $2,100 $2,050 $2,100 $2,300
Bayonne, NJ $2,325 $2,057 $2,422 $2,400
Jersey City, NJ $2,815 $2,600 $2,650 $2,700
Hoboken, NJ $3,066 $3,188 $4,200 $3,700

Top Neighborhoods Near Elizabeth

There are a total of 4 neighborhoods in or near Elizabeth. Some of these neighborhoods include The Heights, Bay Ridge, and The Waterfront. We've included all of these top 4 neighborhoods in or near Elizabeth, NJ in the following chart.

The average rent for these 4 neighborhoods in or near Elizabeth, NJ is currently around $3,175 per month. Meaning, only four neighborhoods have a higher average rent than $3,175. Interestingly, the neighborhoods' average rent is higher than Elizabeth's average rent, which is only $2,400. Out of all the neighborhoods in or near Elizabeth, The Heights has the most affordable average rent at $2,650 per month. Whereas, at $5,500 average rent per month, Battery Park City is the most expensive neighborhood in or near Elizabeth. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
The Heights, Jersey City, NJ N/A $2,175 $2,560 $2,650
Bay Ridge, New York, NY $4,200 $2,248 $2,650 $2,750
The Waterfront, Jersey City, NJ $3,026 $3,510 $5,040 $3,600
Battery Park City, New York, NY $3,550 $4,545 $6,750 $5,500

Top Counties Near Elizabeth

There are a total of 4 counties located by Elizabeth, NJ. Some of these counties include Irvington, NJ, Newark, NJ, and Elizabeth, NJ. The average rent for rentals in these counties is $2,400. That's roughly around $2 per sqft. A total of 4 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 $3,700, Hoboken, NJ is the most expensive county by Elizabeth, NJ.

Typically, rent for studios in Elizabeth, NJ is 18.92% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Elizabeth, NJ is 17.34% more affordable than other counties nearby. Finally, rent for two bedrooms in Elizabeth, NJ is 2.64% more affordable than other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Irvington, NJ $1,625 $1,600 $2,000 $2,150
Newark, NJ $2,100 $2,050 $2,100 $2,300
Elizabeth, NJ $1,861 $1,750 $2,300 $2,400
Bayonne, NJ $2,325 $2,057 $2,422 $2,400
Jersey City, NJ $2,815 $2,600 $2,650 $2,700
Hoboken, NJ $3,066 $3,188 $4,200 $3,700

Top Zipcodes Near Elizabeth

There are a total of 10 zipcodes in or near Elizabeth, NJ. The average rent for all of these zipcodes is $2,588. 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 $4,673 per month is 10280, New York, NY.

Studios in these zipcodes have an average rent of $2,911. That's at least $5 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Elizabeth, NJ is $2,288 per month. Or in other words, $4 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,575 per month. Which comes out to $3 per sqft. The following chart includes the top 10 zipcodes in Elizabeth, NJ. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
10004, New York, NY $3,500 $4,450 $6,688 $4,286
07302, Jersey City, NJ $2,997 $3,385 $4,800 $3,507
07002, Bayonne, NJ $2,325 $2,057 $2,422 $2,400
07305, Jersey City, NJ $13,491 $2,100 $2,200 $2,500
07307, Jersey City, NJ N/A $2,175 $2,500 $2,525
07030, Hoboken, NJ $3,066 $3,188 $4,200 $3,700
10280, New York, NY $3,525 $4,350 $5,999 $4,673
07304, Jersey City, NJ $1,800 $2,149 $2,400 $2,400
07111, Essex County, NJ $1,625 $1,600 $2,000 $2,150
07306, Jersey City, NJ $2,825 $2,400 $2,650 $2,650

Frequently Asked Questions - Elizabeth Average Rents

What is the average rent price in Elizabeth, NJ?
The average monthly rental price for Elizabeth, NJ apartments for rent is approximately $2,400. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Elizabeth, 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 Elizabeth, NJ.
How much is a studio apartment in Elizabeth, NJ?
The average monthly rental price for studio apartments is $1,861 and an average price per square feet of $0. There are a total of 2 studio apartment listings currently available for rent in Elizabeth.
How much is a one bedroom apartment in Elizabeth, NJ?
The average monthly rental price for one bedroom apartments is $1,750 and an average price per square feet of $0. There are a total of 12 one bedroom apartment listings currently available for rent in Elizabeth.
How much is a two bedroom apartment in Elizabeth, NJ?
The average monthly rental price for two bedroom apartments is $2,300 and an average price per square feet of $2.37. There are a total of 17 two bedroom apartment listings currently available for rent in Elizabeth.
How have rent prices in Elizabeth, NJ changed this year?
Rent prices for rentals in Elizabeth, NJ can fluctuate yearly. Specifically, studio rental prices have changed by 0.36%, one bedroom rental prices have changed by -0.01%, two bedroom rental prices have changed by 0.13%, and three bedroom rental prices have changed by 0.03% year-over-year.
What is a reasonable rent price in Elizabeth, NJ?
A reasonable rent price in Elizabeth, NJ is around $1,920/month. You can search for these reasonably priced rental listings on RentHop.
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