Average Rent in New Jersey

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Current Versus Historical New Jersey Rents

New Jersey rentals average $1,900 for a studio rental to $4,500 for a 4-bedroom rental. The median price of all currently available listings is $2,700, or roughly $2 per square feet.
For the apartment units and housing in July 2024, median rents have risen over the last year. Studio rentals prices have increased by $91 (4.97%) year-over-year from $1,833 to $1,925. 1-bedroom rentals prices have increased by $117 (6.36%) year-over-year from $1,833 to $1,950. 2-bedroom rentals prices have increased by $67 (2.63%) year-over-year from $2,533 to $2,600. 3-bedroom rentals prices have increased by $117 (3.98%) year-over-year from $2,933 to $3,050. 4-bedroom rentals prices have increased by $167 (3.94%) year-over-year from $4,233 to $4,400. 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 0.90% this month. 1-bedroom rents have gone down by 0.00% this month. 2-bedroom rents have gone down by 2.50% this month. 3-bedroom rents have gone down by 2.14% this month. 4-bedroom rents have gone down by 7.45% this month.
Beds
Price / Sqft
Jul 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $4.39 $1,925 $1,833 (4.97%) $1,600 (20.28%)
1 BR $3.19 $1,950 $1,833 (6.36%) $1,687 (15.61%)
2 BR $2.16 $2,600 $2,533 (2.63%) $2,508 (3.65%)
3 BR $1.89 $3,050 $2,933 (3.98%) $2,331 (30.83%)
4+ BR $1.78 $4,400 $4,233 (3.94%) $3,633 (21.11%)

Historical Rents in New Jersey

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near New Jersey

There are a total of 27 cities nearby New Jersey. The average rent in New Jersey is currently $2,825 per month. A total of 13 cities nearby have an average rent lower than that. Our records show that Waterbury, CT, with an average rent of $1,450, is the most affordable city nearby. In contrast, the most expensive city near New Jersey is Westhampton Beach, NY. Monthly rents here are on average $30,000 per month.

Let's compare New Jersey's rent against other top cities nearby by bedroom size. Typically, rent for studios in New Jersey is 7.89% more expensive than other cities nearby. One bedrooms are about 0.25% more expensive. Two bedrooms in New Jersey are about 8.00% more affordable. Finally, rent for three bedrooms are about 12.90% more affordable. Want more information? Check out the top 10 cities out of 27 total cities near New Jersey in the following chart.
City Studio 1 Bed 2 Bed All
Philadelphia, PA $1,345 $1,695 $1,800 $1,800
Lansdale, PA $1,750 $2,241 $2,452 $2,138
King of Prussia, PA $1,831 $1,824 $2,639 $2,192
Paterson, NJ $1,850 $1,850 $2,100 $2,250
Newark, NJ $1,800 $1,675 $2,050 $2,300
Elizabeth, NJ N/A $1,900 $2,200 $2,525
Fort Lee, NJ $1,900 $2,375 $3,505 $2,848
Jersey City, NJ $2,390 $3,271 $3,475 $3,179
New York, NY $3,585 $4,354 $5,295 $4,495
Long Beach, NY $2,400 $3,300 $3,800 $4,500

Top Neighborhoods Near New Jersey

There are a total of 82 neighborhoods in or near New Jersey. Some of these neighborhoods include North Philadelphia East, North Philadelphia West, and Center City East. We've included the top 30 neighborhoods out of 82 total neighborhoods in or near New Jersey in the following chart.

The average rent for these 30 neighborhoods in or near New Jersey is currently around $3,600 per month. A total of 26 neighborhoods have a lower average rent. Meaning, only four neighborhoods have a higher average rent than $3,600. Interestingly, the neighborhoods' average rent is higher than New Jersey's average rent, which is only $2,700. Out of all the neighborhoods in or near New Jersey, Cobbs Creek has the most affordable average rent at $1,338 per month. Whereas, at $8,000 average rent per month, Ocean Beach is the most expensive neighborhood in or near New Jersey. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
North Philadelphia East, Philadelphia, PA $1,153 $1,388 $1,600 $1,650
North Philadelphia West, Philadelphia, PA $1,230 $1,430 $1,500 $1,695
Center City East, Philadelphia, PA $1,468 $1,923 $3,000 $2,160
Logan Square, Philadelphia, PA $1,945 $2,615 $3,593 $2,695
Flatbush, New York, NY $2,562 $3,100 $3,150 $3,200
Washington Heights, New York, NY $2,175 $2,400 $2,995 $3,300
West Harlem, New York, NY $2,685 $3,100 $3,495 $3,395
Bedford-Stuyvesant, New York, NY $2,438 $2,815 $3,400 $3,400
Harlem, New York, NY $2,650 $2,995 $3,400 $3,500
Bushwick, New York, NY $2,653 $3,000 $3,499 $3,599
East Harlem, New York, NY $2,495 $2,995 $3,395 $3,795
Prospect Heights, New York, NY $3,600 $4,413 $5,991 $4,165
Upper East Side, New York, NY $2,900 $3,600 $5,000 $4,195
Financial District, New York, NY $3,695 $4,720 $6,780 $4,420
Murray Hill, New York, NY $3,400 $4,595 $7,407 $4,495
West Village, New York, NY $3,995 $4,650 $7,445 $4,550
Hell's Kitchen, New York, NY $3,700 $4,500 $5,885 $4,595
Midtown East, New York, NY $3,400 $4,475 $6,361 $4,625
Greenwich Village, New York, NY $4,100 $5,095 $4,395 $4,800
Upper West Side, New York, NY $3,450 $4,250 $7,000 $4,906
Midtown, New York, NY $3,523 $4,750 $6,995 $4,968
Kips Bay, New York, NY $3,845 $4,070 $5,345 $4,995
Williamsburg, New York, NY $3,947 $4,699 $5,200 $5,000
East Village, New York, NY $2,700 $3,850 $5,200 $5,295
Hudson Yards, New York, NY $3,590 $5,000 $7,600 $5,300
Chelsea, New York, NY $4,123 $5,476 $8,000 $5,405
Gramercy Park, New York, NY $3,725 $4,895 $5,495 $5,495
NoMad, New York, NY $4,395 $5,663 $8,123 $5,781
Lower East Side, New York, NY $2,625 $4,195 $5,295 $5,995
Tribeca, New York, NY $4,500 $5,999 $8,340 $7,195

Top Counties Near New Jersey

There are a total of 82 counties located by New Jersey. Some of these counties include Philadelphia, PA, Upper Merion, PA, and Paterson, NJ. The average rent for rentals in these counties is $3,190. That's roughly around $3 per sqft. A total of 10 counties have a lower average rent. The county that is the most affordable is Waterbury, CT. It's average rent per month is $1,450. Vice versa, with an average rent of $30,000, Southampton, NY is the most expensive county by New Jersey.

Typically, rent for studios in New Jersey is 3.79% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New Jersey is 29.83% more affordable than other counties nearby. Finally, rent for two bedrooms in New Jersey is 29.90% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.
County Studio 1 Bed 2 Bed All
Philadelphia, PA $1,345 $1,695 $1,800 $1,800
Upper Merion, PA $1,831 $1,824 $2,639 $2,192
Paterson, NJ $1,850 $1,850 $2,100 $2,250
Newark, NJ $1,800 $1,675 $2,050 $2,300
Jersey City, NJ $2,390 $3,271 $3,475 $3,179
Queens, New York, NY $2,919 $3,100 $3,702 $3,500
Brooklyn, New York, NY $3,500 $3,893 $4,200 $4,000
Hempstead, NY $2,498 $2,950 $3,600 $4,200
Long Beach, NY $2,400 $3,300 $3,800 $4,500
Manhattan, New York, NY $3,600 $4,495 $5,599 $4,698

Top Zipcodes Near New Jersey

There are a total of 48 zipcodes in or near New Jersey. The average rent for all of these zipcodes is $4,300. A total of 11 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19121, Philadelphia, PA at $1,725 per month. In comparison, the zipcode with the most expensive average rent of $5,895 per month is 10013, New York, NY.

Studios in these zipcodes have an average rent of $3,216. 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 New Jersey is $4,023 per month. Or in other words, $7 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,250 per month. Which comes out to $6 per sqft. The following chart includes the top 10 zipcodes in New Jersey. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
10016, New York, NY $3,550 $4,384 $5,799 $4,850
10003, New York, NY $3,900 $4,845 $5,250 $5,070
10019, New York, NY $3,700 $4,570 $6,300 $4,708
10009, New York, NY $2,660 $3,798 $5,250 $5,295
10128, New York, NY $3,250 $3,900 $5,193 $4,200
10038, New York, NY $3,770 $4,733 $6,390 $4,598
10022, New York, NY $3,450 $4,650 $6,250 $4,800
10005, New York, NY $3,712 $4,895 $7,619 $4,304
10011, New York, NY $3,925 $5,423 $8,258 $4,750
10010, New York, NY $3,955 $4,878 $5,395 $4,995

Frequently Asked Questions - New Jersey Average Rents

What is the average rent price in New Jersey?
The average monthly rental price for New Jersey apartments for rent is approximately $2,700. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do New Jersey 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 New Jersey.
How much is a studio apartment in New Jersey?
The average monthly rental price for studio apartments is $1,900 and an average price per square feet of $4.39. There are a total of 88 studio apartment listings currently available for rent in New Jersey.
How much is a one bedroom apartment in New Jersey?
The average monthly rental price for one bedroom apartments is $2,000 and an average price per square feet of $3.19. There are a total of 765 one bedroom apartment listings currently available for rent in New Jersey.
How much is a two bedroom apartment in New Jersey?
The average monthly rental price for two bedroom apartments is $2,500 and an average price per square feet of $2.16. There are a total of 1,523 two bedroom apartment listings currently available for rent in New Jersey.
How have rent prices in New Jersey changed this year?
Rent prices for rentals in New Jersey can fluctuate yearly. Specifically, studio rental prices have changed by 0.05%, one bedroom rental prices have changed by 0.06%, two bedroom rental prices have changed by 0.03%, and three bedroom rental prices have changed by 0.04% year-over-year.
What is a reasonable rent price in New Jersey?
A reasonable rent price in New Jersey is around $2,160/month. You can search for these reasonably priced rental listings on RentHop.
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