Average Rent in Newark, NJ

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Current Versus Historical Newark, NJ Rents

Newark rentals average $2,775 for a studio rental to $3,000 for a 4-bedroom rental. The median price of all currently available listings is $2,375, or roughly $0 per square feet.

For the apartment units and housing in December 2024, median rents have risen substantially over the last year. Studio rentals prices have decreased by $583 (-31.82%) year-over-year from $1,833 to $1,250. 1-bedroom rentals prices have increased by $284 (19.02%) year-over-year from $1,491 to $1,775. 2-bedroom rentals prices have increased by $401 (21.10%) year-over-year from $1,899 to $2,300. 3-bedroom rentals prices have increased by $350 (15.56%) year-over-year from $2,250 to $2,600. 4-bedroom rentals prices have increased by $75 (2.80%) year-over-year from $2,675 to $2,750. 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 27.54% this month. 1-bedroom rents have gone up by 5.97% this month. 2-bedroom rents have gone up by 2.99% this month. 3-bedroom rents have gone up by 2.63% this month. 4-bedroom rents have gone down by 0.30% this month.

Beds	Price / Sqft	Dec 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	N/A	$1,250	$1,833 (-31.82%)	$1,433 (-12.79%)
1 BR	N/A	$1,775	$1,491 (19.02%)	$1,266 (40.17%)
2 BR	N/A	$2,300	$1,899 (21.10%)	$1,533 (50.03%)
3 BR	N/A	$2,600	$2,250 (15.56%)	$1,817 (43.12%)
4+ BR	N/A	$2,750	$2,675 (2.80%)	$2,200 (25.02%)

Historical Rents in Newark, NJ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Newark

Let's compare Newark, NJ's rent against other top cities nearby by bedroom size.

City	Studio	1 Bed	2 Bed	All

Top Neighborhoods Near Newark

There are a total of 33 neighborhoods in or near Newark. Some of these neighborhoods include Murray Hill, Bowery, and Fort Greene. 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 $4,700 per month. Meaning, only thirty neighborhoods have a higher average rent than $4,700. Interestingly, the neighborhoods' average rent is higher than Newark's average rent, which is only $2,375. Out of all the neighborhoods in or near Newark, Murray Hill has the most affordable average rent at $3,900 per month. Whereas, at $11,500 average rent per month, SoHo is the most expensive neighborhood in or near Newark. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Murray Hill, New York, NY	$3,325	$4,150	$6,300	$3,900
Bowery, New York, NY	$2,800	$3,450	$4,995	$3,925
Fort Greene, New York, NY	$3,440	$4,250	$4,150	$4,150
Hell's Kitchen, New York, NY	$3,440	$4,065	$5,178	$4,182
Clinton Hill, New York, NY	$2,925	$3,900	$4,825	$4,194
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
NoLita, New York, NY	N/A	$3,900	$5,495	$4,495
Kips Bay, New York, NY	$3,610	$4,173	$5,500	$4,495
Park Slope, New York, NY	$5,000	$3,400	$4,342	$4,498
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
Midtown South, New York, NY	$3,955	$4,700	$7,498	$4,700
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
Stuyvesant Town - Peter Cooper Village, New York, NY	N/A	$4,971	$6,054	$5,084
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
Carroll Gardens, New York, NY	N/A	$3,650	$5,500	$5,348
Battery Park City, New York, NY	$3,939	$4,506	$8,200	$5,600
Flatiron District, New York, NY	$4,648	$5,650	$10,500	$5,600
NoMad, New York, NY	$4,309	$5,686	$8,144	$5,686
Tribeca, New York, NY	$4,595	$5,921	$8,566	$7,848
SoHo, New York, NY	$6,875	$5,000	$13,250	$11,500

Top Counties Near Newark

There are a total of 33 counties located by Newark, NJ. The average rent for rentals in these counties is $3,435. That's roughly around $7 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Newark, NJ. It's average rent per month is $2,375. Vice versa, with an average rent of $4,495, Manhattan, New York, NY is the most expensive county by Newark, NJ.

Typically, rent for studios in Newark, NJ is 12.61% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Newark, NJ is 85.23% more affordable than other counties nearby. Finally, rent for two bedrooms in Newark, NJ is 71.51% more affordable than other counties nearby. We've listed the top 2 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Newark, NJ	$2,775	$1,625	$2,325	$2,375
Manhattan, New York, NY	$3,475	$4,395	$5,650	$4,495

Top Zipcodes Near Newark

There is one zipcode in or near Newark, NJ. The average rent for this zipcode is $4,500.

The following chart includes the zipcode in or near Newark, NJ. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
10023, New York, NY	$3,131	$4,484	$8,100	$4,500

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 $2,375. 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 $2,775 and an average price per square feet of $0. There are a total of 4 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 $1,625 and an average price per square feet of $0. There are a total of 6 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 $2,325 and an average price per square feet of $0. There are a total of 12 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 -0.32%, one bedroom rental prices have changed by 0.19%, two bedroom rental prices have changed by 0.21%, and three bedroom rental prices have changed by 0.16% year-over-year.

What is a reasonable rent price in Newark, NJ?

A reasonable rent price in Newark, NJ is around $1,900/month. You can search for these reasonably priced rental listings on RentHop.