Average Rent in Newark, NJ

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Current Versus Historical Newark, NJ Rents

Newark rentals average $2,100 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 $2 per square feet.

For the apartment units and housing in April 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $144 (8.18%) year-over-year from $1,756 to $1,900. 1-bedroom rentals prices have increased by $353 (25.76%) year-over-year from $1,372 to $1,725. 2-bedroom rentals prices have increased by $418 (24.88%) year-over-year from $1,682 to $2,100. 3-bedroom rentals prices have increased by $483 (25.22%) year-over-year from $1,917 to $2,400. 4-bedroom rentals prices have increased by $218 (8.80%) year-over-year from $2,482 to $2,700. 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 5.56% this month. 1-bedroom rents have gone up by 10.70% this month. 2-bedroom rents have gone up by 8.62% this month. 3-bedroom rents have gone up by 2.86% this month. 4-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	N/A	$1,900	$1,756 (8.18%)	$1,750 (8.57%)
1 BR	N/A	$1,725	$1,372 (25.76%)	$1,200 (43.75%)
2 BR	N/A	$2,100	$1,682 (24.88%)	$1,458 (44.00%)
3 BR	$1.94	$2,400	$1,917 (25.22%)	$1,731 (38.62%)
4+ BR	$2.19	$2,700	$2,482 (8.80%)	$2,098 (28.67%)

Historical Rents in Newark, NJ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Newark

There are a total of 11 cities nearby Newark. The average rent in Newark is currently $2,700 per month. Our records show that Hackensack, NJ, with an average rent of $2,313, is the most affordable city nearby. In contrast, the most expensive city near Newark, NJ is Palisades Park, NJ. Monthly rents here are on average $3,775 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 21.43% more expensive than other cities nearby. One bedrooms are about 3.66% more affordable. Two bedrooms in Newark, NJ are about 33.33% more affordable. Finally, rent for three bedrooms are about 29.17% more affordable. Want more information? Check out the top 10 cities out of 11 total cities near Newark, NJ in the following chart.

City	Studio	1 Bed	2 Bed	All
Hackensack, NJ	$1,600	$1,925	$2,700	$2,313
East Orange, NJ	$1,650	$2,025	$2,625	$2,400
Elizabeth, NJ	$1,861	$1,750	$2,300	$2,400
Bayonne, NJ	$2,325	$2,047	$2,422	$2,400
West New York, NJ	N/A	$2,525	$2,850	$2,698
Jersey City, NJ	$2,825	$2,600	$2,650	$2,700
Union City, NJ	$1,900	$2,300	$2,800	$2,800
Cliffside Park, NJ	N/A	$2,150	$3,050	$3,000
Hoboken, NJ	$3,026	$3,199	$4,225	$3,700
Palisades Park, NJ	$1,500	$2,000	$2,843	$3,775

Top Neighborhoods Near Newark

There are a total of 33 neighborhoods in or near Newark. Some of these neighborhoods include The Heights, Clinton Hill, and The Waterfront. We've included the top 30 neighborhoods out of 33 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 $4,800 per month. Meaning, only thirty neighborhoods have a higher average rent than $4,800. 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, The Heights has the most affordable average rent at $2,600 per month. Whereas, at $6,895 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
The Heights, Jersey City, NJ	N/A	$2,200	$2,555	$2,600
Clinton Hill, New York, NY	$3,050	$3,500	$5,997	$3,575
The Waterfront, Jersey City, NJ	$3,033	$3,508	$5,045	$3,616
Bowery, New York, NY	$2,870	$3,995	$3,999	$3,995
Fort Greene, New York, NY	$3,475	$4,750	$6,268	$4,020
Downtown Brooklyn, New York, NY	$3,378	$4,195	$5,765	$4,195
Prospect Heights, New York, NY	$3,598	$4,410	$6,100	$4,300
Financial District, New York, NY	$3,499	$4,500	$6,375	$4,323
NoLita, New York, NY	$3,545	$4,495	$4,895	$4,495
East Village, New York, NY	$2,850	$3,625	$4,495	$4,495
Hell's Kitchen, New York, NY	$3,500	$4,039	$6,095	$4,500
Midtown East, New York, NY	$3,398	$4,200	$5,595	$4,550
Murray Hill, New York, NY	$3,600	$4,300	$6,460	$4,793
West Village, New York, NY	$4,625	$4,750	$6,373	$4,795
Greenwich Village, New York, NY	$4,150	$4,800	$5,075	$4,800
Upper West Side, New York, NY	$3,209	$4,477	$6,300	$4,936
Kips Bay, New York, NY	$3,795	$4,158	$5,303	$4,938
Hudson Yards, New York, NY	$3,675	$4,562	$6,900	$5,000
Midtown South, New York, NY	$3,785	$4,995	$6,858	$5,000
Little Italy, New York, NY	$3,875	$5,000	$5,500	$5,000
Flatiron District, New York, NY	$4,050	$5,900	$8,500	$5,150
Lower East Side, New York, NY	$3,695	$3,495	$4,500	$5,195
Chelsea, New York, NY	$3,937	$5,500	$7,795	$5,295
SoHo, New York, NY	$2,995	$3,950	$14,250	$5,300
Battery Park City, New York, NY	$3,550	$4,532	$6,750	$5,500
Midtown, New York, NY	$3,607	$4,398	$6,895	$5,500
NoMad, New York, NY	$4,449	$5,596	$8,506	$5,710
Stuyvesant Town - Peter Cooper Village, New York, NY	N/A	$5,067	$6,075	$5,848
Gramercy Park, New York, NY	$3,815	$5,195	$5,295	$6,050
Tribeca, New York, NY	$4,250	$6,000	$7,295	$6,895

Top Counties Near Newark

There are a total of 33 counties located by Newark, NJ. Some of these counties include Irvington, NJ, Newark, NJ, and East Orange, NJ. The average rent for rentals in these counties is $2,700. That's roughly around $3 per sqft. A total of 2 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 $4,595, Manhattan, New York, NY is the most expensive county by Newark, NJ.

Typically, rent for studios in Newark, NJ is 10.46% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Newark, NJ is 1.23% more affordable than other counties nearby. Finally, rent for two bedrooms in Newark, NJ is 30.95% more affordable than other counties nearby. We've listed the top 10 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	$2,074	$2,100	$2,300
East Orange, NJ	$1,650	$2,025	$2,625	$2,400
Elizabeth, NJ	$1,861	$1,750	$2,300	$2,400
Bayonne, NJ	$2,325	$2,047	$2,422	$2,400
Jersey City, NJ	$2,825	$2,600	$2,650	$2,700
Montclair, NJ	$1,963	$1,920	$2,700	$2,700
Union City, NJ	$1,900	$2,300	$2,800	$2,800
North Bergen, NJ	$2,149	$2,125	$2,850	$2,850
Hoboken, NJ	$3,026	$3,199	$4,225	$3,700

Top Zipcodes Near Newark

There are a total of 41 zipcodes in or near Newark, NJ. The average rent for all of these zipcodes is $4,405.

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	$3,697	$4,250	$5,895	$4,765
10003, New York, NY	$3,815	$4,800	$5,105	$4,999
10019, New York, NY	$3,607	$4,179	$6,500	$4,825
10009, New York, NY	$2,625	$3,650	$4,495	$4,495
10038, New York, NY	$3,500	$4,500	$6,457	$4,405
10022, New York, NY	$3,350	$4,500	$5,300	$4,500
10005, New York, NY	$3,535	$4,600	$5,810	$4,247
10011, New York, NY	$3,600	$5,850	$5,925	$4,795
10010, New York, NY	$4,050	$4,760	$5,415	$5,393
10017, New York, NY	$3,475	$4,100	$7,200	$5,045

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 $2,100 and an average price per square feet of $0. There are a total of 21 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 $2,074 and an average price per square feet of $0. There are a total of 22 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 $2,100 and an average price per square feet of $0. There are a total of 49 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 0.08%, one bedroom rental prices have changed by 0.26%, two bedroom rental prices have changed by 0.25%, and three bedroom rental prices have changed by 0.25% 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.