Average Rent in New Jersey

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Current Versus Historical New Jersey Rents

New Jersey rentals average $2,100 for a studio rental to $5,500 for a 4-bedroom rental. The median price of all currently available listings is $3,000, 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 $1 (0.05%) year-over-year from $1,799 to $1,800. 1-bedroom rentals prices have increased by $67 (3.54%) year-over-year from $1,883 to $1,950. 2-bedroom rentals prices have decreased by $264 (-9.21%) year-over-year from $2,864 to $2,600. 3-bedroom rentals prices have increased by $367 (13.41%) year-over-year from $2,733 to $3,100. 4-bedroom rentals prices have increased by $850 (21.52%) year-over-year from $3,950 to $4,800. 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 1.28% this month. 1-bedroom rents have gone up by 2.72% this month. 2-bedroom rents have gone down by 0.00% this month. 3-bedroom rents have gone up by 3.91% this month. 4-bedroom rents have gone up by 10.77% this month.
Beds
Price / Sqft
Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $4.71 $1,800 $1,799 (0.05%) $1,725 (4.35%)
1 BR $3.10 $1,950 $1,883 (3.54%) $1,748 (11.53%)
2 BR $2.38 $2,600 $2,864 (-9.21%) $2,304 (12.86%)
3 BR $2.12 $3,100 $2,733 (13.41%) $2,300 (34.78%)
4+ BR $2.26 $4,800 $3,950 (21.52%) $3,471 (38.30%)

Historical Rents in New Jersey

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near New Jersey

There are a total of 47 cities nearby New Jersey. The average rent in New Jersey is currently $2,925 per month. A total of 27 cities nearby have an average rent lower than that. Our records show that Portsmouth, VA, 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 29.29% more expensive than other cities nearby. One bedrooms are equivalent to other nearby cities' one bedroom rents. Two bedrooms in New Jersey are about 3.85% more affordable. Finally, rent for three bedrooms are on par with the other cities nearby. Want more information? Check out the top 10 cities out of 47 total cities near New Jersey in the following chart.
City Studio 1 Bed 2 Bed All
Philadelphia, PA $1,355 $1,690 $1,834 $1,800
Atlantic City, NJ $8,250 $1,798 $1,722 $2,200
Ocean Grove, NJ $3,000 $1,650 $2,200 $3,000
Brigantine, NJ N/A $1,400 $2,200 $3,325
Asbury Park, NJ $2,575 $2,450 $3,925 $3,799
Bradley Beach, NJ N/A $2,400 $5,000 $4,000
Point Pleasant Beach, NJ N/A $1,500 $2,500 $5,000
Oakhurst, NJ N/A N/A N/A $5,250
Belmar, NJ N/A $2,400 $15,000 $6,000
Spring Lake, NJ N/A $6,000 $4,350 $10,000

Top Neighborhoods Near New Jersey

There are a total of 93 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 93 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 $3,300 per month. A total of 38 neighborhoods have a lower average rent. Interestingly, the neighborhoods' average rent is higher than New Jersey's average rent, which is only $3,000. Out of all the neighborhoods in or near New Jersey, Cobbs Creek has the most affordable average rent at $1,325 per month. Whereas, at $13,000 average rent per month, Lower Chelsea 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 $1,295 $1,447 $1,679 $1,650
North Philadelphia West, Philadelphia, PA $1,225 $1,420 $1,600 $1,700
Center City East, Philadelphia, PA $1,350 $1,900 $2,890 $2,065
Logan Square, Philadelphia, PA $1,653 $2,350 $3,591 $2,469
Washington Heights, New York, NY $1,925 $2,400 $2,990 $3,149
Flatbush, New York, NY $2,800 $2,998 $3,144 $3,272
Bedford-Stuyvesant, New York, NY $2,375 $2,850 $3,034 $3,300
East Harlem, New York, NY $2,675 $3,129 $3,195 $3,395
Harlem, New York, NY $2,595 $3,098 $3,300 $3,425
Bushwick, New York, NY $2,650 $2,799 $3,475 $3,450
West Harlem, New York, NY $2,650 $3,000 $3,400 $3,598
Upper East Side, New York, NY $2,938 $3,600 $4,900 $4,000
Prospect Heights, New York, NY $3,600 $4,410 $6,100 $4,300
Financial District, New York, NY $3,495 $4,500 $6,400 $4,308
Hell's Kitchen, New York, NY $3,500 $4,065 $6,141 $4,495
East Village, New York, NY $2,950 $3,600 $4,495 $4,500
Midtown East, New York, NY $3,400 $4,200 $5,595 $4,595
Williamsburg, New York, NY $3,626 $4,508 $4,650 $4,700
West Village, New York, NY $4,750 $4,750 $6,750 $4,795
Greenwich Village, New York, NY $4,150 $4,800 $5,075 $4,800
Kips Bay, New York, NY $3,793 $4,115 $5,320 $4,950
Upper West Side, New York, NY $3,250 $4,477 $6,450 $4,995
Murray Hill, New York, NY $3,625 $4,303 $6,598 $4,995
Hudson Yards, New York, NY $3,763 $4,498 $6,950 $5,014
Lower East Side, New York, NY $3,800 $3,595 $4,495 $5,195
Chelsea, New York, NY $4,195 $5,500 $7,915 $5,250
Midtown, New York, NY $3,607 $4,400 $6,895 $5,500
NoMad, New York, NY $4,454 $5,587 $8,506 $5,698
Gramercy Park, New York, NY $3,815 $5,195 $5,295 $6,039
Tribeca, New York, NY $4,250 $5,975 $7,295 $6,895

Top Counties Near New Jersey

There are a total of 93 counties located by New Jersey. Some of these counties include Philadelphia, PA, Neptune, NJ, and Brigantine, NJ. The average rent for rentals in these counties is $3,260. That's roughly around $3 per sqft. A total of 20 counties have a lower average rent. The county that is the most affordable is Norfolk, VA. It's average rent per month is $1,500. Vice versa, with an average rent of $35,500, Southampton, NY is the most expensive county by New Jersey.

Typically, rent for studios in New Jersey is 12.50% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New Jersey is 15.72% more affordable than other counties nearby. Finally, rent for two bedrooms in New Jersey is 14.62% 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 $1,355 $1,690 $1,834 $1,800
Neptune, NJ $3,000 $1,698 $2,450 $3,000
Brigantine, NJ N/A $1,400 $2,200 $3,325
Toms River, NJ N/A $1,750 $2,400 $3,500
Asbury Park, NJ $2,575 $2,450 $3,200 $3,799
Ocean, NJ N/A $4,050 $3,000 $3,900
Bradley Beach, NJ N/A $2,400 $5,000 $4,000
Point Pleasant Beach, NJ N/A $1,500 $2,500 $5,000
Belmar, NJ N/A $2,400 $15,000 $6,000
Spring Lake, NJ N/A $6,000 $4,350 $10,000

Top Zipcodes Near New Jersey

There are a total of 50 zipcodes in or near New Jersey. The average rent for all of these zipcodes is $4,261. 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 19122, Philadelphia, PA at $1,725 per month. In comparison, the zipcode with the most expensive average rent of $18,000 per month is 08402, Margate City, NJ.

Studios in these zipcodes have an average rent of $3,200. 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 $4,073 per month. Or in other words, $7 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,163 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 $3,700 $4,250 $5,995 $4,850
10003, New York, NY $3,815 $4,800 $5,175 $4,950
10019, New York, NY $3,525 $4,200 $6,500 $4,785
10009, New York, NY $2,625 $3,650 $4,495 $4,500
10128, New York, NY $3,470 $3,790 $5,367 $3,958
10038, New York, NY $3,495 $4,500 $6,375 $4,400
10022, New York, NY $3,350 $4,500 $5,300 $4,500
10005, New York, NY $3,514 $4,600 $6,250 $4,250
10011, New York, NY $3,600 $5,799 $6,495 $4,750
10010, New York, NY $4,050 $4,798 $5,465 $5,395

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 $3,000. 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 $2,100 and an average price per square feet of $4.71. There are a total of 181 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 $2,074 and an average price per square feet of $3.10. There are a total of 1,253 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 $2,600 and an average price per square feet of $2.38. There are a total of 2,392 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 0.00%, one bedroom rental prices have changed by 0.04%, two bedroom rental prices have changed by -0.09%, and three bedroom rental prices have changed by 0.13% year-over-year.
What is a reasonable rent price in New Jersey?
A reasonable rent price in New Jersey is around $2,400/month. You can search for these reasonably priced rental listings on RentHop.
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