Average Rent in New Jersey

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Current Versus Historical New Jersey Rents

New Jersey rentals average $1,550 for a studio rental to $4,200 for a 4-bedroom rental. The median price of all currently available listings is $2,900, or roughly $2 per square feet.
For the apartment units and housing in November 2024, median rents have risen over the last year. Studio rentals prices have decreased by $222 (-11.84%) year-over-year from $1,872 to $1,650. 1-bedroom rentals prices have increased by $167 (9.16%) year-over-year from $1,828 to $1,995. 2-bedroom rentals prices have increased by $17 (0.65%) year-over-year from $2,583 to $2,600. 3-bedroom rentals prices have increased by $333 (11.63%) year-over-year from $2,867 to $3,200. 4-bedroom rentals prices have increased by $158 (4.12%) year-over-year from $3,842 to $4,000. 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 4.35% this month. 1-bedroom rents have gone up by 0.67% this month. 2-bedroom rents have gone down by 0.64% this month. 3-bedroom rents have gone up by 4.35% this month. 4-bedroom rents have gone down by 4.76% this month.
Beds
Price / Sqft
Nov 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $1.05 $1,650 $1,872 (-11.84%) $1,853 (-10.93%)
1 BR $2.30 $1,995 $1,828 (9.16%) $1,565 (27.48%)
2 BR $2.07 $2,600 $2,583 (0.65%) $2,528 (2.87%)
3 BR $1.84 $3,200 $2,867 (11.63%) $2,066 (54.89%)
4+ BR $1.80 $4,000 $3,842 (4.12%) $2,704 (47.92%)

Historical Rents in New Jersey

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near New Jersey

There are a total of 37 cities nearby New Jersey. The average rent in New Jersey is currently $2,884 per month. A total of 20 cities nearby have an average rent lower than that. Our records show that Scranton, PA, with an average rent of $1,325, 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 $42,500 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 12.90% more expensive than other cities nearby. One bedrooms are equivalent to other nearby cities' one bedroom rents. Two bedrooms in New Jersey are about 9.71% more affordable. Finally, rent for three bedrooms are about 20.31% more affordable. Want more information? Check out the top 10 cities out of 37 total cities near New Jersey in the following chart.
City Studio 1 Bed 2 Bed All
Wilmington, DE N/A $1,495 $1,625 $1,600
Philadelphia, PA $1,215 $1,685 $1,800 $1,800
Bethlehem, PA $1,545 $1,595 $1,825 $1,813
Asbury Park, NJ $1,650 $2,200 $2,750 $2,700
Ocean Grove, NJ $1,725 $1,800 $2,500 $3,100
Point Pleasant Beach, NJ N/A $1,600 $2,100 $3,200
Belmar, NJ N/A $2,200 $2,900 $3,500
Long Branch, NJ N/A $2,995 $3,775 $3,850
New York, NY $3,450 $4,186 $5,000 $4,242
Spring Lake, NJ N/A $1,950 N/A $9,500

Top Neighborhoods Near New Jersey

There are a total of 88 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 88 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 $3,288 per month. A total of 32 neighborhoods have a lower average rent. Interestingly, the neighborhoods' average rent is higher than New Jersey's average rent, which is only $2,900. Out of all the neighborhoods in or near New Jersey, Cobbs Creek has the most affordable average rent at $1,352 per month. Whereas, at $9,500 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 $1,140 $1,372 $1,688 $1,650
Center City East, Philadelphia, PA $1,235 $1,845 $2,695 $2,113
Flatbush, New York, NY $2,631 $2,875 $3,175 $3,000
Bedford-Stuyvesant, New York, NY $2,461 $2,800 $3,200 $3,200
East Harlem, New York, NY $2,995 $2,985 $3,195 $3,200
Bushwick, New York, NY $2,679 $3,000 $3,209 $3,300
Harlem, New York, NY $2,675 $2,850 $3,200 $3,399
West Harlem, New York, NY $2,675 $2,815 $3,350 $3,499
Crown Heights, New York, NY $2,655 $3,103 $3,999 $3,525
Upper East Side, New York, NY $3,280 $3,900 $5,115 $4,000
Murray Hill, New York, NY $3,425 $4,244 $6,500 $4,057
Long Island City, New York, NY $3,280 $4,000 $5,950 $4,094
Hell's Kitchen, New York, NY $3,499 $3,950 $5,178 $4,100
Downtown Brooklyn, New York, NY $3,439 $4,175 $5,772 $4,250
Financial District, New York, NY $3,450 $4,500 $6,350 $4,273
Prospect Heights, New York, NY $3,550 $4,495 $6,009 $4,395
East Village, New York, NY $2,995 $3,795 $4,495 $4,495
Hudson Yards, New York, NY $3,600 $4,508 $6,623 $4,500
Midtown East, New York, NY $3,375 $4,400 $5,989 $4,500
Kips Bay, New York, NY $3,595 $4,250 $5,433 $4,515
Williamsburg, New York, NY $3,813 $4,599 $5,168 $4,792
Greenwich Village, New York, NY $4,125 $5,525 $7,900 $4,850
Upper West Side, New York, NY $3,323 $4,461 $7,250 $4,890
Lower East Side, New York, NY $3,413 $3,950 $4,683 $4,925
Midtown, New York, NY $3,621 $4,297 $6,500 $4,950
West Village, New York, NY $4,345 $5,100 $6,750 $4,990
Little Italy, New York, NY $3,250 $4,500 $4,400 $5,295
Chelsea, New York, NY $3,895 $5,645 $7,995 $5,395
Gramercy Park, New York, NY $3,690 $5,500 $4,995 $5,495
NoMad, New York, NY $4,329 $5,685 $8,337 $5,779

Top Counties Near New Jersey

There are a total of 88 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 $3,140. That's roughly around $3 per sqft. A total of 22 counties have a lower average rent. The county that is the most affordable is Scranton, PA. It's average rent per month is $1,325. 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 4.98% more affordable than other counties nearby. In comparison, rent for one bedroom listings in New Jersey is 10.00% more affordable than other counties nearby. Finally, rent for two bedrooms in New Jersey is 9.51% 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 $1,215 $1,685 $1,800 $1,800
Lower Merion, PA $1,350 $1,733 $2,380 $2,350
Asbury Park, NJ $1,650 $2,200 $2,750 $2,700
Neptune, NJ $1,725 $2,100 $2,617 $3,000
Toms River, NJ N/A N/A $2,520 $3,200
Point Pleasant Beach, NJ N/A $1,600 $2,100 $3,200
Ocean, NJ N/A $1,925 $2,150 $3,275
Brick, NJ N/A $1,800 $2,200 $3,400
Belmar, NJ N/A $2,200 $2,900 $3,500
Spring Lake, NJ N/A $1,950 N/A $9,500

Top Zipcodes Near New Jersey

There are a total of 15 zipcodes in or near New Jersey. The average rent for all of these zipcodes is $2,478. 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 $4,775 per month is 10280, New York, NY.

Studios in these zipcodes have an average rent of $1,703. That's at least $4 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near New Jersey is $2,205 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,982 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 $3,318 $4,000 $5,115 $3,995
10023, New York, NY $3,375 $4,950 $8,250 $4,500
19104, Philadelphia, PA $1,195 $1,425 $1,719 $1,700
11375, New York, NY $2,645 $3,000 $3,223 $3,150
10035, New York, NY $2,385 $2,700 $3,350 $2,850
19128, Philadelphia, PA $1,325 $1,498 $1,688 $1,625
19144, Philadelphia, PA $985 $1,354 $1,545 $1,516
22314, Alexandria, VA N/A $2,205 $2,982 $2,800
19145, Philadelphia, PA $1,125 $1,223 $1,542 $1,700
20008, Washington, DC $1,703 $2,411 $3,209 $2,478

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 $2,900. 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 $1,550 and an average price per square feet of $1.05. There are a total of 40 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 $2.30. There are a total of 655 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 $2,575 and an average price per square feet of $2.07. There are a total of 1,485 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 -0.12%, one bedroom rental prices have changed by 0.09%, two bedroom rental prices have changed by 0.01%, and three bedroom rental prices have changed by 0.12% year-over-year.
What is a reasonable rent price in New Jersey?
A reasonable rent price in New Jersey is around $2,320/month. You can search for these reasonably priced rental listings on RentHop.
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