No rentals found near Silver Lake, Essex County, NJ

The average rent in Silver Lake, Essex County, NJ is $1,845.

In Silver Lake, 43% of the residents are renting compared to 57% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 12% of Silver Lake's rentals, 73% are small-scale complexes with under 50 units, and 15% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Silver Lake are about 51 years old, on average. Of these, 29% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 4 stories. About 68% of the rental communities here are low-rise, garden-style communities, 36% are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Rental apartments in Silver Lake come in a range of sizes and floorplans. Studio apartments represent 3% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 76% of the total apartments in the city, while 2-bedroom floorplans represent around 21% of all rentals in Silver Lake. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.