Average Rent and Costs in Newark, NJ

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There are currently active 134 listings advertised for rent in Newark, NJ. Newark rentals average $1,950 for a studio rental to $2,500 for a 4-bedroom rental. The median price of all currently available listings is $2,100, or roughly $18 per square feet.
For the apartment units and housing in January 2023, median rents have risen over the last year. Studio rentals prices have increased by $350 (21.88%) year-over-year from $1,600 to $1,950. 1-bedroom rentals prices have increased by $75 (5.88%) year-over-year from $1,275 to $1,450. 2-bedroom rentals prices have increased by $145 (9.38%) year-over-year from $1,550 to $1,850. 3-bedroom rentals prices have increased by $133 (7.14%) year-over-year from $1,867 to $2,200. 4-bedroom rentals prices have increased by $225 (10.13%) year-over-year from $2,225 to $2,500. 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 0.21% this month. 1-bedroom rents have gone down by 0.86% this month. 2-bedroom rents have gone up by 0.89% this month. 3-bedroom rents have gone up by 2.61% this month. 4-bedroom rents have gone up by 4.26% this month.
Current Availabilities January 2023
Bedrooms     Rent Price / sqft     Whole Month Rent 1 Yr Ago Rent (% Change) 3 Yr Ago Rent (% Change)
Studio $1,950 $18 $1,950 $1,600 (21.88%) $1,592 (22.51%)
1 BR $1,450 N/A $1,350 $1,275 (5.88%) $1,018 (32.68%)
2 BR $1,850 $28 $1,695 $1,550 (9.38%) $1,373 (23.42%)
3 BR $2,200 $20 $2,000 $1,867 (7.14%) $1,583 (26.38%)
4+ BR $2,500 N/A $2,450 $2,225 (10.13%) $1,992 (23.01%)

Historical Rents in Newark, NJ

Studio
1 Bedroom
2 Bedroom
3 Bedroom
4 Bedroom

Top Cities Near Newark

There are a total of 5 cities nearby Newark. The average rent in Newark is currently $2,763 per month. Our records show that Bayonne, NJ, with an average rent of $2,200, is the most affordable city nearby. In contrast, the most expensive city near Newark, NJ is Hoboken, NJ. Monthly rents here are on average $3,400 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 28.21% more affordable than other cities nearby. One bedrooms are about 86.21% more affordable. Two bedrooms in Newark, NJ are about 45.95% more affordable. Finally, rent for three bedrooms are about 38.64% more affordable. Want more information? Check out the top 5 cities near Newark, NJ in the following chart.
City Studio 1BR 2BR All
Bayonne, NJ $2,000 $2,000 $2,380 $2,200
West New York, NJ $2,500 $2,700 $2,738 $2,750
Jersey City, NJ $2,676 $2,656 $2,700 $2,763
Union City, NJ $2,500 $3,725 $2,500 $2,950
Hoboken, NJ $3,270 $3,211 $4,000 $3,400

Top Neighborhoods Near Newark

There are a total of 33 neighborhoods in or near Newark. Some of these neighborhoods include The Heights, Little Italy, 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 $4,354 per month. Interestingly, the neighborhoods' average rent is higher than Newark's average rent, which is only $2,100. Out of all the neighborhoods in or near Newark, Greenville has the most affordable average rent at $2,200 per month. Whereas, at $7,048 per month, SoHo is the most expensive neighborhood in or near Newark. View the following chart for more information.
Neighborhood Studio 1BR 2BR All
The Heights, Jersey City, NJ $2,200 $3,950 $2,450 $2,700
Little Italy, New York, NY $3,250 $3,500 $4,695 $3,500
The Waterfront, Jersey City, NJ $2,900 $3,338 $4,375 $3,627
Financial District, New York, NY $3,277 $4,136 $5,810 $3,975
Murray Hill, New York, NY $3,105 $3,895 $4,250 $3,995
Bowery, New York, NY $4,100 $3,250 $4,319 $3,997
Clinton Hill, New York, NY $2,973 $3,888 $5,500 $4,010
Downtown Brooklyn, New York, NY $3,184 $4,044 $5,665 $4,175
Lower East Side, New York, NY $2,500 $3,200 $4,295 $4,195
Kips Bay, New York, NY $3,535 $3,895 $4,995 $4,250
East Village, New York, NY $2,600 $3,495 $4,495 $4,295
NoLita, New York, NY N/A $4,295 $4,795 $4,295
Prospect Heights, New York, NY $3,495 $4,298 $6,700 $4,325
Hell's Kitchen, New York, NY $3,195 $3,895 $5,223 $4,354
Brooklyn Heights, New York, NY $3,100 $3,900 $7,695 $4,425
Midtown East, New York, NY $3,000 $4,300 $6,000 $4,450
Hudson Yards, New York, NY $3,763 $4,295 $6,340 $4,495
NoHo, New York, NY $3,550 $4,250 $6,873 $4,500
Upper West Side, New York, NY $2,975 $4,000 $5,775 $4,500
Battery Park City, New York, NY $3,365 $4,000 $7,892 $4,745
Greenwich Village, New York, NY $3,250 $5,395 $5,500 $4,850
Midtown South, New York, NY $3,700 $4,800 $6,950 $4,881
Chelsea, New York, NY $3,700 $4,979 $6,996 $4,896
West Village, New York, NY $3,923 $4,995 $5,600 $5,395
Flatiron District, New York, NY $3,650 $5,500 $9,200 $5,450
Midtown, New York, NY $3,725 $3,995 $6,000 $5,475
NoMad, New York, NY $4,455 $5,261 $8,822 $5,480
Gramercy Park, New York, NY $3,522 $4,275 $5,395 $5,650
Tribeca, New York, NY $4,688 $5,495 $6,995 $6,838
SoHo, New York, NY $3,200 $4,750 $15,250 $7,048

Top Counties Near Newark

County Studio 1BR 2BR All
Newark, NJ $1,950 $1,450 $1,850 $2,100
Bayonne, NJ $2,000 $2,000 $2,380 $2,200
Staten Island, New York, NY $4,500 $1,675 $2,298 $2,500
North Bergen, NJ $1,800 $1,925 $2,600 $2,548
West New York, NJ $2,500 $2,700 $2,738 $2,750
Jersey City, NJ $2,676 $2,656 $2,700 $2,763
Montclair, NJ $1,900 $2,073 $3,038 $2,825
Union City, NJ $2,500 $3,725 $2,500 $2,950
Hoboken, NJ $3,270 $3,211 $4,000 $3,400
Manhattan, New York, NY $3,200 $3,995 $5,195 $4,250

Top Zipcodes Near Newark

Zipcode Studio 1BR 2BR All
10016, New York, NY $3,300 $3,995 $4,800 $4,250
10009, New York, NY $2,599 $3,495 $4,395 $4,195
10003, New York, NY $3,600 $3,995 $5,395 $5,395
10038, New York, NY $3,150 $4,100 $5,873 $4,000
10019, New York, NY $3,370 $3,850 $5,765 $4,500
10005, New York, NY $3,387 $4,150 $6,045 $3,975
10022, New York, NY $2,995 $4,300 $5,995 $4,500
10011, New York, NY $3,450 $5,250 $6,198 $4,950
10025, New York, NY $3,000 $3,763 $4,905 $4,400
10023, New York, NY $3,348 $4,100 $6,900 $4,595
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