Rental market trends in Newark, NJ
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Average Apartment Cost in Newark, NJ
Apartment Rent Ranges in Newark, NJ
Apartment Prices Proportion | |||||
|---|---|---|---|---|---|
| $501-$700 | 0% | $701-$1,000 | 0% |
Neighborhood Apartment Rent Trends in Newark, NJ
| Neighborhood | Studio Avg Rent | Annual Change |
|---|---|---|
| University Heights | $3,000 | -- |
| Newark Central Business District | $2,540 | +28% |
| Franklin Center | $2,348 | -4% |
| Downtown Bloomfield | $2,137 | -- |
| Bergenwood | $2,118 | -18% |
| Weequahic | $1,850 | -- |
| Brookdale | $1,675 | +5% |
| Seventh Avenue | $1,500 | -- |
| South Broad Street | $1,400 | -- |
| Lincoln Park | $1,400 | -- |
| Neighborhood | 1 Bed Avg Rent | Annual Change |
|---|---|---|
| Franklin Center | $2,490 | +12% |
| Downtown Bloomfield | $2,433 | +9% |
| Menlo Park - Valentine | $2,075 | +25% |
| South Ironbound | $2,050 | -- |
| Goodman's Crossing | $1,845 | +1% |
| Maplewood | $1,800 | +20% |
| South Central | $1,675 | +20% |
| Transfer Station | $1,650 | -29% |
| Fairview | $1,650 | -- |
| Town Center Historic District | $1,600 | -- |
| Neighborhood | 2 Beds Avg Rent | Annual Change |
|---|---|---|
| Bergenwood | $3,890 | +7% |
| Newark Central Business District | $3,885 | +15% |
| Town Center Historic District | $2,975 | +9% |
| South Mountain | $2,895 | -- |
| Downtown Bloomfield | $2,893 | +61% |
| Franklin Center | $2,840 | -4% |
| Brookdale | $2,675 | +5% |
| Goodman's Crossing | $2,467 | +5% |
| North Ironbound | $2,450 | +26% |
| Menlo Park - Valentine | $2,420 | +22% |
How Other Cities Compare to Newark, NJ
| City | Studio Avg Rent | Annual Change |
|---|---|---|
| New York | $3,894 | +44% |
| Brooklyn | $3,677 | +41% |
| Jersey City | $3,240 | +12% |
| Weehawken | $3,212 | -1% |
| Long Island City | $2,968 | -2% |
| North Bergen | $2,695 | +4% |
| Stamford | $2,032 | +23% |
| Queens | $1,650 | +6% |
| Edison | $1,295 | -51% |
| City | 1 Bed Avg Rent | Annual Change |
|---|---|---|
| New York | $4,667 | +37% |
| Brooklyn | $4,021 | +49% |
| Jersey City | $3,955 | +11% |
| Weehawken | $3,731 | -14% |
| Long Island City | $3,629 | 0% |
| North Bergen | $2,850 | -4% |
| Stamford | $2,533 | +8% |
| Queens | $2,000 | +3% |
| Edison | $1,990 | +7% |
| City | 2 Beds Avg Rent | Annual Change |
|---|---|---|
| New York | $6,362 | +72% |
| Long Island City | $5,502 | +11% |
| Weehawken | $5,423 | +28% |
| Jersey City | $4,160 | -3% |
| North Bergen | $3,625 | +4% |
| Stamford | $3,375 | +6% |
| Brooklyn | $2,600 | -17% |
| Queens | $2,450 | +7% |
| Edison | $2,367 | +5% |
Newark, NJ Rent Trends
| Studio | 1 Bed | 2 Beds | ||||||||||
| Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 |
| $1980 | $2005 | $1703 | $1400 | $1700 | $1700 | $1700 | $1700 | $1850 | $1850 | $2082 | $1850 | $1850 |
| $2801 | $2804 | $2848 | $2705 | $3063 | $2810 | $2837 | $2467 | $2322 | $2355 | $2377 | $2395 | $2300 |
| $2150 | $2150 | $2150 | $1875 | $2500 | $1850 | $1850 | $2000 | $2772 | $2550 | $2547 | $1800 | $1900 |
| $1850 | $2000 | $1900 | $2000 | $1995 | $2000 | $2100 | $2100 | $2200 | $2100 | $2100 | $2200 | $2100 |
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.
What are the most expensive neighborhoods in Newark, NJ?
The most expensive neighborhoods in Newark are West Montrose, where the average 1-bedroom apartment rent goes for $3,265, Bergenwood, where renters pay $3,060 on average for a 1-bedroom apartment, and Newark Central Business District, where the average 1-bedroom apartment rent goes for $3,052. If you're looking for other premium neighborhoods, check out the listings in Franklin Center ($2,490 for a 1-bedroom apartment) or Downtown Bloomfield ($2,433 for a 1-bedroom apartment), compared to the $2,300 average for a Newark 1-bedroom apartment.
What are the most popular neighborhoods in Newark, NJ?
The most popular neighborhoods in Newark are Bergenwood, where the average 1-bedroom apartment rent goes for $3,060, Transfer Station, where renters pay $1,650 on average for a 1-bedroom apartment, and North Ironbound, where the average 1-bedroom apartment rent goes for $1,400. If you're looking for other popular neighborhoods, check out the listings in South Ironbound ($2,050 for a 1-bedroom apartment) or South Broad Street ($1,200 for a 1-bedroom apartment), compared to the $2,300 average for a Newark 1-bedroom apartment.
