Average Rent in New Jersey

Home  »  NJ

Current Versus Historical New Jersey Rents

New Jersey rentals average $1,600 for a studio rental to $4,275 for a 4-bedroom rental. The median price of all currently available listings is $2,950, or roughly $2 per square feet.
For the apartment units and housing in December 2024, median rents have risen over the last year. Studio rentals prices have decreased by $142 (-7.59%) year-over-year from $1,867 to $1,725. 1-bedroom rentals prices have increased by $181 (9.93%) year-over-year from $1,819 to $2,000. 2-bedroom rentals prices have decreased by $75 (-2.91%) year-over-year from $2,575 to $2,500. 3-bedroom rentals prices have increased by $183 (6.40%) year-over-year from $2,867 to $3,050. 4-bedroom rentals prices have increased by $258 (6.72%) year-over-year from $3,842 to $4,100. 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 2.59% this month. 1-bedroom rents have gone up by 3.45% this month. 2-bedroom rents have gone down by 2.60% this month. 3-bedroom rents have gone up by 1.12% this month. 4-bedroom rents have gone up by 3.14% this month.
Beds
Price / Sqft
Dec 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $1.05 $1,725 $1,867 (-7.59%) $1,832 (-5.82%)
1 BR $2.36 $2,000 $1,819 (9.93%) $1,565 (27.80%)
2 BR $2.07 $2,500 $2,575 (-2.91%) $2,561 (-2.38%)
3 BR $1.83 $3,050 $2,867 (6.40%) $2,066 (47.60%)
4+ BR $1.83 $4,100 $3,842 (6.72%) $2,675 (53.27%)

Historical Rents in New Jersey

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near New Jersey

There are a total of 34 cities nearby New Jersey. The average rent in New Jersey is currently $2,870 per month. A total of 18 cities nearby have an average rent lower than that. Our records show that Scranton, PA, with an average rent of $1,300, 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 $35,500 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 20.47% more expensive than other cities nearby. One bedrooms are about 11.25% more affordable. Two bedrooms in New Jersey are about 19.90% more affordable. Finally, rent for three bedrooms are about 16.80% more affordable. Want more information? Check out the top 10 cities out of 34 total cities near New Jersey in the following chart.
City Studio 1 Bed 2 Bed All
Wilmington, DE $1,295 $1,495 $1,823 $1,673
Bethlehem, PA N/A $1,350 $1,875 $1,795
Philadelphia, PA $1,250 $1,677 $1,800 $1,800
Asbury Park, NJ $1,750 $2,200 $2,800 $2,600
Ocean Grove, NJ N/A $3,050 $2,798 $3,325
Long Branch, NJ N/A $3,000 $3,750 $3,800
Belmar, NJ N/A $2,800 $15,000 $3,975
New York, NY $3,415 $4,150 $5,000 $4,200
Manasquan, NJ N/A $2,875 $3,650 $5,500
Spring Lake, NJ N/A $1,900 $5,750 $10,000

Top Neighborhoods Near New Jersey

There are a total of 84 neighborhoods in or near New Jersey. Some of these neighborhoods include North Philadelphia East, Center City East, and Flatbush. We've included the top 30 neighborhoods out of 84 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 $3,360 per month. A total of 30 neighborhoods have a lower average rent. Interestingly, the neighborhoods' average rent is higher than New Jersey's average rent, which is only $2,950. Out of all the neighborhoods in or near New Jersey, Cobbs Creek has the most affordable average rent at $1,350 per month. Whereas, at $11,500 average rent per month, SoHo 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 $1,236 $1,400 $1,700 $1,624
Center City East, Philadelphia, PA $1,128 $1,905 $2,800 $2,095
Flatbush, New York, NY $2,550 $2,715 $3,099 $2,942
East Harlem, New York, NY $2,450 $2,938 $3,096 $3,195
Bedford-Stuyvesant, New York, NY $2,400 $2,857 $3,100 $3,200
Bushwick, New York, NY $2,795 $2,850 $3,300 $3,300
Harlem, New York, NY $2,575 $2,850 $3,150 $3,395
West Harlem, New York, NY $2,550 $2,850 $2,995 $3,500
Crown Heights, New York, NY $2,704 $2,995 $4,026 $3,500
Murray Hill, New York, NY $3,325 $4,150 $6,300 $3,900
Long Island City, New York, NY $3,272 $3,753 $5,773 $3,950
Upper East Side, New York, NY $3,350 $4,052 $5,000 $4,000
Hell's Kitchen, New York, NY $3,440 $4,065 $5,178 $4,182
Financial District, New York, NY $3,471 $4,450 $6,092 $4,219
Downtown Brooklyn, New York, NY $3,425 $4,100 $5,700 $4,301
Prospect Heights, New York, NY $3,575 $4,395 $4,995 $4,310
East Village, New York, NY $2,897 $3,850 $4,495 $4,495
Kips Bay, New York, NY $3,610 $4,173 $5,500 $4,495
Midtown East, New York, NY $3,325 $4,425 $6,075 $4,525
Hudson Yards, New York, NY $3,490 $4,444 $6,495 $4,622
Williamsburg, New York, NY $3,822 $4,671 $4,952 $4,713
Lower East Side, New York, NY $3,413 $4,623 $4,750 $4,750
Upper West Side, New York, NY $3,008 $4,435 $6,948 $4,817
West Village, New York, NY $4,633 $4,950 $6,650 $4,950
Little Italy, New York, NY $3,250 $4,250 $4,925 $5,000
Greenwich Village, New York, NY $4,000 $6,125 $6,130 $5,100
Midtown, New York, NY $3,625 $4,363 $6,750 $5,250
Chelsea, New York, NY $3,825 $5,490 $7,500 $5,295
Gramercy Park, New York, NY $3,750 $5,313 $5,057 $5,313
NoMad, New York, NY $4,309 $5,686 $8,144 $5,686

Top Counties Near New Jersey

There are a total of 84 counties located by New Jersey. Some of these counties include Philadelphia, PA, Lower Merion, PA, and Asbury Park, NJ. The average rent for rentals in these counties is $3,275. 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 Scranton, PA. It's average rent per month is $1,300. Vice versa, with an average rent of $35,000, Southampton, NY is the most expensive county by New Jersey.

Typically, rent for studios in New Jersey is 6.72% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New Jersey is 16.75% more affordable than other counties nearby. Finally, rent for two bedrooms in New Jersey is 19.90% 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 $1,250 $1,677 $1,800 $1,800
Lower Merion, PA $1,350 $2,047 $2,380 $2,450
Asbury Park, NJ $1,750 $2,200 $2,800 $2,600
Neptune, NJ N/A $2,825 $2,817 $3,322
Ocean, NJ N/A $1,925 $2,500 $3,350
Toms River, NJ N/A $1,650 $2,500 $3,500
Brick, NJ N/A $1,875 $2,200 $3,700
Belmar, NJ N/A $2,800 $15,000 $3,975
Manasquan, NJ N/A $2,875 $3,650 $5,500
Spring Lake, NJ N/A $1,900 $5,750 $10,000

Top Zipcodes Near New Jersey

There are a total of 14 zipcodes in or near New Jersey. The average rent for all of these zipcodes is $2,238. A total of 10 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19131, Philadelphia, PA at $1,450 per month. In comparison, the zipcode with the most expensive average rent of $4,500 per month is 10023, New York, NY.

Studios in these zipcodes have an average rent of $1,728. That's at least $3 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near New Jersey is $1,989 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,760 per month. Which comes out to $3 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
10128, New York, NY $3,350 $4,110 $5,724 $3,931
10023, New York, NY $3,131 $4,484 $8,100 $4,500
19104, Philadelphia, PA $1,195 $1,575 $1,796 $1,796
11375, New York, NY $2,680 $2,975 $3,250 $3,000
10035, New York, NY $2,250 $2,702 $3,250 $2,919
19128, Philadelphia, PA $1,363 $1,550 $1,700 $1,625
19144, Philadelphia, PA $985 $1,637 $1,604 $1,675
22314, Alexandria, VA $1,850 $2,335 $3,185 $3,020
19145, Philadelphia, PA $1,125 $1,200 $1,550 $1,700
20008, Washington, DC $1,763 $2,010 $3,298 $2,087

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 $2,950. 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 $1,600 and an average price per square feet of $1.05. There are a total of 48 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 $2,000 and an average price per square feet of $2.36. There are a total of 605 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 $2,500 and an average price per square feet of $2.07. There are a total of 1,452 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 -0.08%, one bedroom rental prices have changed by 0.10%, two bedroom rental prices have changed by -0.03%, and three bedroom rental prices have changed by 0.06% year-over-year.
What is a reasonable rent price in New Jersey?
A reasonable rent price in New Jersey is around $2,360/month. You can search for these reasonably priced rental listings on RentHop.
Quantcast