Average Rent in Monmouth, NJ

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Current Versus Historical Monmouth, NJ Rents

Monmouth rentals average $1,650 for a studio rental to $4,500 for a 4-bedroom rental. The median price of all currently available listings is $3,250, or roughly $3 per square feet.

For the apartment units and housing in November 2024, median rents have risen substantially over the last year. Studio rentals prices have decreased by $17 (-1.00%) year-over-year from $1,667 to $1,650. 1-bedroom rentals prices have increased by $304 (15.34%) year-over-year from $1,983 to $2,288. 2-bedroom rentals prices have increased by $158 (5.99%) year-over-year from $2,642 to $2,800. 3-bedroom rentals prices have increased by $133 (3.96%) year-over-year from $3,367 to $3,500. 4-bedroom rentals prices have increased by $200 (4.88%) year-over-year from $4,100 to $4,300. 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 1.98% this month. 1-bedroom rents have gone up by 7.44% this month. 2-bedroom rents have gone down by 0.59% this month. 3-bedroom rents have gone up by 6.87% this month. 4-bedroom rents have gone down by 2.92% this month.

Beds	Price / Sqft	Nov 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	N/A	$1,650	$1,667 (-1.00%)	$1,400 (17.86%)
1 BR	$3.54	$2,288	$1,983 (15.34%)	$1,750 (30.71%)
2 BR	$3.04	$2,800	$2,642 (5.99%)	$2,200 (27.27%)
3 BR	N/A	$3,500	$3,367 (3.96%)	$2,983 (17.32%)
4+ BR	N/A	$4,300	$4,100 (4.88%)	$3,508 (22.57%)

Historical Rents in Monmouth, NJ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Monmouth

There are a total of 10 cities nearby Monmouth. The average rent in Monmouth is currently $3,525 per month. A total of 4 cities nearby have an average rent lower than that. Our records show that Philadelphia, PA, with an average rent of $1,800, is the most affordable city nearby. In contrast, the most expensive city near Monmouth, NJ is Spring Lake, NJ. Monthly rents here are on average $9,500 per month.

Let's compare Monmouth, NJ's rent against other top cities nearby by bedroom size. Typically, rent for studios in Monmouth, NJ is 62.61% more expensive than other cities nearby. One bedrooms are about 3.26% more expensive. Two bedrooms in Monmouth, NJ are about 5.00% more expensive. Finally, rent for three bedrooms are about 13.19% more affordable. Want more information? Check out the top 10 cities near Monmouth, NJ in the following chart.

City	Studio	1 Bed	2 Bed	All
Philadelphia, PA	$1,234	$1,665	$1,800	$1,800
West Babylon, NY	N/A	$2,395	$2,850	$2,500
Asbury Park, NJ	$1,650	$2,150	$2,800	$2,700
Ocean Grove, NJ	$1,725	$1,900	$2,500	$3,100
Long Beach, NY	$1,963	$2,600	$3,300	$3,500
Belmar, NJ	N/A	$2,200	$2,850	$3,550
Long Branch, NJ	N/A	$3,000	$3,775	$3,900
New York, NY	$3,447	$4,195	$5,000	$4,250
Manasquan, NJ	N/A	$2,500	$3,950	$5,000
Spring Lake, NJ	N/A	$1,900	N/A	$9,500

Top Neighborhoods Near Monmouth

There are a total of 74 neighborhoods in or near Monmouth. Some of these neighborhoods include North Philadelphia East, Center City East, and Flatbush. We've included the top 30 neighborhoods out of 74 total neighborhoods in or near Monmouth, NJ in the following chart.

The average rent for these 30 neighborhoods in or near Monmouth, NJ is currently around $3,748 per month. A total of 31 neighborhoods have a lower average rent. Interestingly, the neighborhoods' average rent is higher than Monmouth's average rent, which is only $3,250. Out of all the neighborhoods in or near Monmouth, Germantown has the most affordable average rent at $1,450 per month. Whereas, at $11,000 average rent per month, SoHo is the most expensive neighborhood in or near Monmouth. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
North Philadelphia East, Philadelphia, PA	$1,264	$1,372	$1,695	$1,665
Center City East, Philadelphia, PA	$1,235	$1,860	$2,655	$2,095
Flatbush, New York, NY	$2,633	$2,800	$3,099	$3,000
Bedford-Stuyvesant, New York, NY	$2,461	$2,800	$3,195	$3,150
Bushwick, New York, NY	$2,769	$3,000	$3,211	$3,300
Harlem, New York, NY	$2,675	$2,850	$3,200	$3,399
East Harlem, New York, NY	$3,600	$3,158	$3,133	$3,400
West Harlem, New York, NY	$2,675	$2,780	$3,225	$3,432
Crown Heights, New York, NY	$2,740	$3,196	$4,300	$3,600
Murray Hill, New York, NY	$3,425	$4,150	$6,500	$3,995
Upper East Side, New York, NY	$3,277	$3,900	$5,350	$4,000
Long Island City, New York, NY	$3,300	$4,015	$5,895	$4,092
Hell's Kitchen, New York, NY	$3,398	$3,995	$5,475	$4,180
Financial District, New York, NY	$3,450	$4,498	$6,400	$4,264
Downtown Brooklyn, New York, NY	$3,425	$4,209	$5,818	$4,306
Hudson Yards, New York, NY	$3,533	$4,405	$6,541	$4,345
Prospect Heights, New York, NY	$3,568	$4,490	$6,009	$4,380
East Village, New York, NY	$2,995	$3,795	$4,495	$4,495
Midtown East, New York, NY	$3,450	$4,400	$6,060	$4,500
Kips Bay, New York, NY	$3,595	$4,250	$5,455	$4,530
Williamsburg, New York, NY	$3,832	$4,583	$5,031	$4,750
Greenwich Village, New York, NY	$4,100	$5,600	$7,900	$4,850
Lower East Side, New York, NY	$3,499	$4,350	$4,765	$4,990
West Village, New York, NY	$3,750	$5,150	$6,750	$5,000
Upper West Side, New York, NY	$3,345	$4,499	$7,380	$5,033
Midtown, New York, NY	$3,700	$4,298	$6,500	$5,250
Little Italy, New York, NY	$3,250	$4,500	$4,850	$5,295
Chelsea, New York, NY	$3,925	$5,600	$7,945	$5,395
Gramercy Park, New York, NY	$3,696	$5,550	$4,995	$5,395
NoMad, New York, NY	$4,335	$5,675	$8,293	$5,711

Top Counties Near Monmouth

There are a total of 74 counties located by Monmouth, NJ. Some of these counties include Asbury Park, NJ, Neptune, NJ, and Toms River, NJ. The average rent for rentals in these counties is $3,450. That's roughly around $3 per sqft. A total of 7 counties have a lower average rent. The county that is the most affordable is Philadelphia, PA. It's average rent per month is $1,800. Vice versa, with an average rent of $9,500, Spring Lake, NJ is the most expensive county by Monmouth, NJ.

Typically, rent for studios in Monmouth, NJ is 25.21% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Monmouth, NJ is 5.26% more affordable than other counties nearby. Finally, rent for two bedrooms in Monmouth, NJ is 1.67% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Asbury Park, NJ	$1,650	$2,150	$2,800	$2,700
Neptune, NJ	$1,725	$2,050	$2,559	$3,000
Toms River, NJ	N/A	N/A	$2,510	$3,250
Howell, NJ	N/A	$2,550	$3,400	$3,300
Ocean, NJ	N/A	$1,925	$2,850	$3,300
Brick, NJ	N/A	$1,800	$2,200	$3,450
Belmar, NJ	N/A	$2,200	$2,850	$3,550
Long Branch, NJ	N/A	$3,000	$3,775	$3,900
Manasquan, NJ	N/A	$2,500	$3,950	$5,000
Spring Lake, NJ	N/A	$1,900	N/A	$9,500

Top Zipcodes Near Monmouth

There are a total of 6 zipcodes in or near Monmouth, NJ. The average rent for all of these zipcodes is $3,575. A total of 3 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19144, Philadelphia, PA at $1,500 per month. In comparison, the zipcode with the most expensive average rent of $4,973 per month is 10023, New York, NY.

Studios in these zipcodes have an average rent of $2,998. That's at least $6 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Monmouth, NJ is $3,570 per month. Or in other words, $5 per sqft. Meanwhile, two bedroom apartments will cost you an average of $4,325 per month. Which comes out to $5 per sqft. The following chart includes the top 6 zipcodes in Monmouth, NJ. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
10128, New York, NY	$3,350	$4,190	$5,200	$4,000
10023, New York, NY	$3,400	$5,035	$8,295	$4,973
11375, New York, NY	$2,645	$2,950	$3,450	$3,150
10035, New York, NY	$2,299	$2,550	$3,148	$2,850
19144, Philadelphia, PA	$975	$1,325	$1,545	$1,500
10280, New York, NY	$3,747	$4,425	$6,465	$4,595

Frequently Asked Questions - Monmouth Average Rents

What is the average rent price in Monmouth, NJ?

The average monthly rental price for Monmouth, NJ apartments for rent is approximately $3,250. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Monmouth, 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 Monmouth, NJ.

How much is a studio apartment in Monmouth, NJ?

The average monthly rental price for studio apartments is $1,650 and an average price per square feet of $0. There are a total of 11 studio apartment listings currently available for rent in Monmouth.

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

The average monthly rental price for one bedroom apartments is $2,375 and an average price per square feet of $3.54. There are a total of 220 one bedroom apartment listings currently available for rent in Monmouth.

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

The average monthly rental price for two bedroom apartments is $3,000 and an average price per square feet of $3.04. There are a total of 352 two bedroom apartment listings currently available for rent in Monmouth.

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

Rent prices for rentals in Monmouth, NJ can fluctuate yearly. Specifically, studio rental prices have changed by -0.01%, one bedroom rental prices have changed by 0.15%, two bedroom rental prices have changed by 0.06%, and three bedroom rental prices have changed by 0.04% year-over-year.

What is a reasonable rent price in Monmouth, NJ?

A reasonable rent price in Monmouth, NJ is around $2,600/month. You can search for these reasonably priced rental listings on RentHop.