Average Rent in Newark, NJ

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Current Versus Historical Newark, NJ Rents

Newark rentals average $1,800 for a studio rental to $2,700 for a 4-bedroom rental. The median price of all currently available listings is $2,300, or roughly $3 per square feet.

For the apartment units and housing in July 2024, median rents have risen substantially over the last year. Studio rentals prices have decreased by $250 (-13.33%) year-over-year from $1,875 to $1,625. 1-bedroom rentals prices have increased by $160 (11.11%) year-over-year from $1,440 to $1,600. 2-bedroom rentals prices have increased by $210 (11.11%) year-over-year from $1,890 to $2,100. 3-bedroom rentals prices have increased by $300 (13.95%) year-over-year from $2,150 to $2,450. 4-bedroom rentals prices have increased by $251 (10.46%) year-over-year from $2,399 to $2,650. 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 16.28% this month. 1-bedroom rents have gone up by 3.23% this month. 2-bedroom rents have gone up by 3.28% this month. 3-bedroom rents have gone up by 2.80% this month. 4-bedroom rents have gone down by 0.93% this month.

Beds	Price / Sqft	Jul 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	N/A	$1,625	$1,875 (-13.33%)	$1,692 (-3.94%)
1 BR	N/A	$1,600	$1,440 (11.11%)	$1,312 (21.92%)
2 BR	N/A	$2,100	$1,890 (11.11%)	$1,491 (40.86%)
3 BR	$2.76	$2,450	$2,150 (13.95%)	$1,716 (42.75%)
4+ BR	N/A	$2,650	$2,399 (10.46%)	$2,249 (17.82%)

Historical Rents in Newark, NJ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Newark

There are a total of 4 cities nearby Newark. The average rent in Newark is currently $3,013 per month. Our records show that Elizabeth, NJ, with an average rent of $2,525, is the most affordable city nearby. In contrast, the most expensive city near Newark, NJ is Cliffside Park, NJ. Monthly rents here are on average $3,600 per month.

Let's compare Newark, NJ's rent against other top cities nearby by bedroom size. Typically, rent for studios in Newark, NJ is 47.22% more expensive than other cities nearby. One bedrooms are about 32.09% more affordable. Two bedrooms in Newark, NJ are about 70.24% more affordable. Finally, rent for three bedrooms are about 43.75% more affordable. Want more information? Check out the top 4 cities near Newark, NJ in the following chart.

City	Studio	1 Bed	2 Bed	All
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
Cliffside Park, NJ	N/A	$2,050	$3,975	$3,600

Top Neighborhoods Near Newark

There are a total of 32 neighborhoods in or near Newark. Some of these neighborhoods include Clinton Hill, Brooklyn Heights, and Prospect Heights. We've included the top 30 neighborhoods out of 32 total neighborhoods in or near Newark, NJ in the following chart.

The average rent for these 30 neighborhoods in or near Newark, NJ is currently around $4,825 per month. Meaning, only thirty neighborhoods have a higher average rent than $4,825. Interestingly, the neighborhoods' average rent is higher than Newark's average rent, which is only $2,300. Out of all the neighborhoods in or near Newark, Clinton Hill has the most affordable average rent at $3,909 per month. Whereas, at $7,195 average rent per month, Tribeca is the most expensive neighborhood in or near Newark. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Clinton Hill, New York, NY	$3,348	$3,565	$4,995	$3,909
Brooklyn Heights, New York, NY	$3,348	$4,100	$4,900	$4,154
Prospect Heights, New York, NY	$3,600	$4,413	$5,991	$4,165
Flatiron District, New York, NY	$4,100	$5,900	$10,500	$4,200
Bowery, New York, NY	$2,800	$3,450	$4,798	$4,300
Fort Greene, New York, NY	$3,495	$4,395	$4,925	$4,395
Financial District, New York, NY	$3,695	$4,720	$6,780	$4,420
Park Slope, New York, NY	$3,273	$3,966	$4,295	$4,434
Murray Hill, New York, NY	$3,400	$4,595	$7,407	$4,495
Downtown Brooklyn, New York, NY	$3,484	$4,350	$6,000	$4,500
West Village, New York, NY	$3,995	$4,650	$7,445	$4,550
NoLita, New York, NY	$3,390	$4,495	$6,495	$4,595
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
Midtown South, New York, NY	$3,700	$4,800	$5,050	$4,850
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
Little Italy, New York, NY	$3,900	$5,000	$5,495	$5,200
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
SoHo, New York, NY	$3,850	$4,850	$5,400	$5,400
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
Battery Park City, New York, NY	$4,110	$5,209	$7,250	$5,750
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
Stuyvesant Town - Peter Cooper Village, New York, NY	N/A	$5,057	$6,054	$6,100
Tribeca, New York, NY	$4,500	$5,999	$8,340	$7,195

Top Counties Near Newark

There are a total of 32 counties located by Newark, NJ. Some of these counties include Newark, NJ, Bloomfield, NJ, and Elizabeth, NJ. The average rent for rentals in these counties is $2,924. That's roughly around $4 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Newark, NJ. It's average rent per month is $2,300. Vice versa, with an average rent of $4,698, Manhattan, New York, NY is the most expensive county by Newark, NJ.

Typically, rent for studios in Newark, NJ is 50.00% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Newark, NJ is 32.09% more affordable than other counties nearby. Finally, rent for two bedrooms in Newark, NJ is 53.05% more affordable than other counties nearby. We've listed the top 8 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Newark, NJ	$1,800	$1,675	$2,050	$2,300
Bloomfield, NJ	N/A	$1,750	$2,300	$2,425
Elizabeth, NJ	N/A	$1,900	$2,200	$2,525
Fort Lee, NJ	$1,900	$2,375	$3,505	$2,848
Montclair, NJ	N/A	$2,428	$2,800	$3,000
Jersey City, NJ	$2,390	$3,271	$3,475	$3,179
Cliffside Park, NJ	N/A	$2,050	$3,975	$3,600
Manhattan, New York, NY	$3,600	$4,495	$5,599	$4,698

Top Zipcodes Near Newark

There are a total of 32 zipcodes in or near Newark, NJ. The average rent for all of these zipcodes is $4,731.

The following chart includes the top 10 zipcodes in Newark, 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	$3,550	$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
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
10017, New York, NY	$3,300	$4,475	$7,816	$4,595

Frequently Asked Questions - Newark Average Rents

What is the average rent price in Newark, NJ?

The average monthly rental price for Newark, NJ apartments for rent is approximately $2,300. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Newark, 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 Newark, NJ.

How much is a studio apartment in Newark, NJ?

The average monthly rental price for studio apartments is $1,800 and an average price per square feet of $0. There are a total of 17 studio apartment listings currently available for rent in Newark.

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

The average monthly rental price for one bedroom apartments is $1,675 and an average price per square feet of $0. There are a total of 24 one bedroom apartment listings currently available for rent in Newark.

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

The average monthly rental price for two bedroom apartments is $2,050 and an average price per square feet of $0. There are a total of 50 two bedroom apartment listings currently available for rent in Newark.

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

Rent prices for rentals in Newark, NJ can fluctuate yearly. Specifically, studio rental prices have changed by -0.13%, one bedroom rental prices have changed by 0.11%, two bedroom rental prices have changed by 0.11%, and three bedroom rental prices have changed by 0.14% year-over-year.

What is a reasonable rent price in Newark, NJ?

A reasonable rent price in Newark, NJ is around $1,840/month. You can search for these reasonably priced rental listings on RentHop.