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Rental market trends in Newark, NJ

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Average Rent in Newark, NJ

Avg. RentAnnual Change
Studio - $1,850-7%
1 Bed - $2,300-18%
2 Beds - $1,900-12%
Last updated 3/28/2023

Average Apartment Cost in Newark, NJ

The average rent for apartments in Newark, NJ, is between $1,850 and $2,300 in 2023. For a studio apartment in Newark, NJ, the average rent is $1,850. When it comes to 1-bedroom apartments, the average rent in Newark, NJ, is $2,300. For a 2-bedroom apartment, the average rent is $1,900.

Apartment Rent Ranges in Newark, NJ

Apartment Prices

Neighborhood Apartment Rent Trends in Newark, NJ

NeighborhoodStudio Avg RentAnnual Change
University Heights$3,000--
Newark Central Business District$2,540+28%
Franklin Center$2,348-4%
Downtown Bloomfield$2,137--
Seventh Avenue$1,500--
South Broad Street$1,400--
Lincoln Park$1,400--

How Other Cities Compare to Newark, NJ

CityStudio Avg RentAnnual Change
New York$3,894+44%
Jersey City$3,240+12%
Long Island City$2,968-2%
North Bergen$2,695+4%

Newark, NJ Rent Trends

Neighborhood Information for Newark, NJ

What are the most affordable neighborhoods in Newark, NJ?

The most affordable neighborhoods in Newark are Seventh Avenue, where the average 1-bedroom apartment rent goes for $1,100, Upper Roseville, where renters pay $1,150 on average for a 1-bedroom apartment, and South Broad Street, where the average 1-bedroom apartment rent goes for $1,200. If you're looking for other great deals, check out the listings in North Broadway ($1,300 for a 1-bedroom apartment) or Weequahic ($1,350 for a 1-bedroom apartment), compared to the $2,300 average for a Newark 1-bedroom apartment.