Average Rent in Monmouth, NJ

Current Versus Historical Monmouth, NJ Rents

Monmouth rentals average $3,000 for a studio rental to $6,450 for a 4-bedroom rental. The median price of all currently available listings is $4,000, or roughly $3 per square feet.

For the apartment units and housing in May 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $42 (-2.33%) year-over-year from $1,792 to $1,750. 1-bedroom rentals prices have increased by $100 (4.76%) year-over-year from $2,100 to $2,200. 2-bedroom rentals prices have increased by $667 (24.39%) year-over-year from $2,733 to $3,400. 3-bedroom rentals prices have increased by $1,192 (31.09%) year-over-year from $3,833 to $5,025. 4-bedroom rentals prices have decreased by $5,350 (-51.69%) year-over-year from $10,350 to $5,000. 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 up by 1.94% this month. 1-bedroom rents have gone up by 1.15% this month. 2-bedroom rents have gone up by 11.90% this month. 3-bedroom rents have gone up by 15.08% this month. 4-bedroom rents have gone down by 25.91% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.11	$1,750	$1,792 (-2.33%)	$1,483 (17.98%)
1 BR	$3.15	$2,200	$2,100 (4.76%)	$1,750 (25.71%)
2 BR	$2.80	$3,400	$2,733 (24.39%)	$2,367 (43.66%)
3 BR	$2.71	$5,025	$3,833 (31.09%)	$3,050 (64.75%)
4+ BR	$2.68	$5,000	$10,350 (-51.69%)	$16,000 (-68.75%)

Historical Rents in Monmouth, NJ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Monmouth

There are a total of 24 cities nearby Monmouth. The average rent in Monmouth is currently $3,550 per month. A total of 15 cities nearby have an average rent lower than that. Our records show that Philadelphia, PA, with an average rent of $1,800, is the most affordable city nearby. In contrast, the most expensive city near Monmouth, NJ is Spring Lake, NJ. Monthly rents here are on average $10,000 per month.

Let's compare Monmouth, NJ's rent against other top cities nearby by bedroom size. Typically, rent for studios in Monmouth, NJ is 53.33% more expensive than other cities nearby. One bedrooms are about 8.33% more expensive. Two bedrooms in Monmouth, NJ are about 13.97% more expensive. Finally, rent for three bedrooms are about 9.69% more affordable. Want more information? Check out the top 10 cities out of 24 total cities near Monmouth, NJ in the following chart.

City	Studio	1 Bed	2 Bed	All
Ocean Grove, NJ	$3,000	$1,673	$2,200	$3,000
Asbury Park, NJ	$2,575	$2,400	$3,350	$3,500
Bradley Beach, NJ	N/A	$2,400	$5,000	$4,000
West Long Branch, NJ	N/A	N/A	$16,375	$4,050
Long Branch, NJ	N/A	$3,075	$4,000	$4,250
Manasquan, NJ	N/A	$3,150	$3,850	$4,500
Point Pleasant Beach, NJ	N/A	$1,550	$2,500	$5,000
Oakhurst, NJ	N/A	N/A	N/A	$5,375
Belmar, NJ	N/A	$2,500	$15,000	$6,000
Spring Lake, NJ	N/A	$5,250	$4,500	$10,000

Top Neighborhoods Near Monmouth

There are a total of 70 neighborhoods in or near Monmouth. Some of these neighborhoods include North Philadelphia East, North Philadelphia West, and Center City East. We've included the top 30 neighborhoods out of 70 total neighborhoods in or near Monmouth, NJ in the following chart.

The average rent for these 30 neighborhoods in or near Monmouth, NJ is currently around $3,500 per month. A total of 41 neighborhoods have a lower average rent. Out of all the neighborhoods in or near Monmouth, Germantown has the most affordable average rent at $1,425 per month. Whereas, at $7,500 average rent per month, SoHo is the most expensive neighborhood in or near Monmouth. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
North Philadelphia East, Philadelphia, PA	$1,295	$1,404	$1,668	$1,652
North Philadelphia West, Philadelphia, PA	$1,225	$1,421	$1,600	$1,700
Center City East, Philadelphia, PA	$1,325	$1,900	$2,795	$2,097
Washington Heights, New York, NY	$2,100	$2,200	$2,990	$3,225
Flatbush, New York, NY	$2,800	$3,150	$3,425	$3,300
Bedford-Stuyvesant, New York, NY	$2,539	$2,856	$3,150	$3,350
Harlem, New York, NY	$2,595	$3,000	$3,300	$3,457
East Harlem, New York, NY	$2,863	$3,000	$3,195	$3,495
Bushwick, New York, NY	$2,650	$2,800	$3,400	$3,499
West Harlem, New York, NY	$2,595	$2,888	$3,548	$3,538
Upper East Side, New York, NY	$2,875	$3,500	$4,950	$4,000
Long Island City, New York, NY	$3,323	$4,050	$5,895	$4,050
Prospect Heights, New York, NY	$3,625	$4,427	$5,966	$4,280
Financial District, New York, NY	$3,513	$4,514	$6,463	$4,375
East Village, New York, NY	$2,650	$3,600	$4,495	$4,495
Hell's Kitchen, New York, NY	$3,496	$4,019	$6,184	$4,500
Midtown East, New York, NY	$3,575	$4,200	$5,595	$4,600
Murray Hill, New York, NY	$3,509	$4,257	$6,415	$4,717
Williamsburg, New York, NY	$3,574	$4,506	$4,675	$4,750
West Village, New York, NY	$4,750	$4,650	$6,750	$4,795
Greenwich Village, New York, NY	$3,975	$4,800	$5,075	$4,800
Kips Bay, New York, NY	$3,795	$4,050	$5,300	$4,950
Upper West Side, New York, NY	$3,218	$4,500	$6,875	$4,995
Hudson Yards, New York, NY	$3,742	$4,448	$6,950	$5,000
Chelsea, New York, NY	$3,860	$5,495	$7,925	$5,103
Lower East Side, New York, NY	$3,300	$3,600	$4,598	$5,195
NoMad, New York, NY	$4,446	$5,596	$8,506	$5,610
Midtown, New York, NY	$3,550	$4,400	$6,915	$6,128
Gramercy Park, New York, NY	$3,815	$5,086	$5,312	$6,395
Tribeca, New York, NY	$4,250	$5,950	$7,245	$6,898

Top Counties Near Monmouth

There are a total of 70 counties located by Monmouth, NJ. Some of these counties include Essex, NJ, Burlington, NJ, and Hudson, NJ. The average rent for rentals in these counties is $2,800. That's roughly around $2 per sqft. A total of 16 counties have a lower average rent. The county that is the most affordable is Philadelphia, PA. It's average rent per month is $1,800. Vice versa, with an average rent of $4,600, New York, NY is the most expensive county by Monmouth, NJ.

Typically, rent for studios in Monmouth, NJ is 38.33% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Monmouth, NJ is 20.83% more expensive than other counties nearby. Finally, rent for two bedrooms in Monmouth, NJ is 23.53% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Essex, NJ	$1,850	$1,900	$2,495	$2,495
Burlington, NJ	N/A	$1,500	$2,100	$2,500
Hudson, NJ	$2,439	$2,500	$2,700	$2,737
Middlesex, NJ	$1,850	$1,900	$2,600	$2,800
Union, NJ	$2,025	$1,950	$2,650	$2,800
Mercer, NJ	N/A	$1,773	$2,425	$2,917
Queens, New York, NY	$3,083	$2,650	$3,200	$3,240
Somerset, NJ	N/A	$1,975	$3,000	$3,250
Ocean, NJ	$1,300	$1,700	$2,400	$3,850
Kings, New York, NY	$3,473	$3,975	$4,004	$3,940

Top Zipcodes Near Monmouth

There are a total of 50 zipcodes in or near Monmouth, NJ. The average rent for all of these zipcodes is $4,317. A total of 21 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19122, Philadelphia, PA at $1,695 per month. In comparison, the zipcode with the most expensive average rent of $6,895 per month is 10013, New York, NY.

Studios in these zipcodes have an average rent of $3,046. 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 Monmouth, NJ is $3,921 per month. Or in other words, $6 per sqft. Meanwhile, two bedroom apartments will cost you an average of $4,750 per month. Which comes out to $6 per sqft. The following chart includes the top 10 zipcodes in Monmouth, 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	$3,600	$4,200	$5,890	$4,600
10003, New York, NY	$3,650	$4,800	$5,130	$5,060
10019, New York, NY	$3,550	$4,200	$6,500	$4,750
10009, New York, NY	$2,625	$3,600	$4,495	$4,495
10128, New York, NY	$3,290	$3,673	$5,700	$3,958
10038, New York, NY	$3,533	$4,539	$6,380	$4,500
10022, New York, NY	$3,373	$4,500	$5,000	$4,500
10005, New York, NY	$3,535	$4,550	$6,500	$4,334
10011, New York, NY	$3,600	$5,850	$6,895	$4,595
10010, New York, NY	$4,050	$4,798	$5,395	$5,395

Frequently Asked Questions - Monmouth Average Rents

What is the average rent price in Monmouth, NJ?

The average monthly rental price for Monmouth, NJ apartments for rent is approximately $4,000. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Monmouth, 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 Monmouth, NJ.

How much is a studio apartment in Monmouth, NJ?

The average monthly rental price for studio apartments is $3,000 and an average price per square feet of $3.11. There are a total of 13 studio apartment listings currently available for rent in Monmouth.

How much is a one bedroom apartment in Monmouth, NJ?

The average monthly rental price for one bedroom apartments is $2,400 and an average price per square feet of $3.15. There are a total of 214 one bedroom apartment listings currently available for rent in Monmouth.

How much is a two bedroom apartment in Monmouth, NJ?

The average monthly rental price for two bedroom apartments is $3,400 and an average price per square feet of $2.80. There are a total of 403 two bedroom apartment listings currently available for rent in Monmouth.

How have rent prices in Monmouth, NJ changed this year?

Rent prices for rentals in Monmouth, NJ can fluctuate yearly. Specifically, studio rental prices have changed by -0.02%, one bedroom rental prices have changed by 0.05%, two bedroom rental prices have changed by 0.24%, and three bedroom rental prices have changed by 0.31% year-over-year.

What is a reasonable rent price in Monmouth, NJ?

A reasonable rent price in Monmouth, NJ is around $3,200/month. You can search for these reasonably priced rental listings on RentHop.