Newark, NJ Rental Market Trends

Highlights

The average rent for an apartment in Newark is $1,155, a 1% decrease compared to the previous year, when the average rent was $1,171.

Studio apartments in Newark rent for $831 a month, while 1-bedroom apartments ask on average $1,078 a month; the average rent for a 2-bedroom apartment is $1,441.

Average Rent in Newark, NJ

Last updated Oct 2018
All rentals Studio 1 Bed 2 Beds 3 Beds
Average Rent $1,155 $831 $1,078 $1,441 $1,449
Y-o-Y Change -1% -1% -2% n/a n/a
Average Apartment Size 772 sq. ft. 458 sq. ft. 622 sq. ft. 858 sq. ft. 1,122 sq. ft.

The average size for a Newark apartment is 772 square feet, but this number varies greatly depending on apartment type. A studio averages 458 sq. ft., while a one-bedroom apartment offers a more generous square footage: 622. 2-bedroom apartments in Newark have an average size of 858 sq. ft.

Newark, NJ Apartment Rent Ranges

  • < $5006%
  • $501-$70024%
  • $701-$1,00057%
  • $1,001-$1,50010%
  • $1,501-$2,0003%

Newark, NJ Rent Trends

Average Rent All rentals Studio 1 Bed 2 Beds 3 Beds
Oct / 2018 $1,155 $831 $1,078 $1,441 $1,449
Jan / 2018 $1,154 $828 $1,076 $1,441 $1,453
Sept / 2017 $1,169 $835 $1,093 $1,439 $1,425
May / 2017 $1,171 $843 $1,098 $1,437 $1,446
Jan / 2017 $1,145 $835 $1,067 $1,404 $1,421
Sept / 2016 $1,128 $832 $1,041 $1,385 $1,419
May / 2016 $1,117 $839 $1,016 $1,378 $1,437
Jan / 2016 $1,108 $853 $1,017 $1,339 $1,403
Sept / 2015 $1,096 $852 $1,005 $1,341 $1,325
May / 2015 $1,064 $830 $948 $1,322 $1,333
/

Average Rent in Newark, NJ By Neighborhood

West Side Newark
$1,664
Fairmount
$1,520
University Heights
$1,365
Springfield - Belmont
$1,363
Downtown Newark
$1,267
Lincoln Park
$1,267
Lower Roseville
$1,172
Upper Roseville
$1,172
Forest Hill
$1,130
Mount Pleasant
$1,125
North Broadway
$1,125
Seventh Avenue
$1,125
Lower Clinton Hill
$1,058
Upper Clinton Hill
$1,058
Dayton
$1,043
Weequahic
$1,043
Vailsburg
$912

The most affordable neighborhoods in Newark are Vailsburg, where the average rent goes for $912/month, Dayton, where renters pay $1,043/mo on average, and Weequahic, where the average rent goes for $1,043/mo. If you’re looking for other great deals, check out the listings from Lower Clinton Hill ($1,058), Upper Clinton Hill ($1,058), and Mount Pleasant ($1,125), where the asking prices are below the average Newark rent of $1,155/mo.

The most expensive neighborhoods in Newark are University Heights ($1,365), Fairmount ($1,520) and West Side Newark ($1,664).

Newark | Rent Comparison by Neighborhood

Neighborhood
vs.
Neighborhood

Rent in Dayton is 18% lower than in Downtown Newark

$1,043

Dayton rent is 10% lower than Newark average

All rentals $1,043
Studio $875
1 Bed $977
2 Beds $1,199
3 Beds $1,313
$1,267

Downtown Newark rent is 10% higher than Newark average

All rentals $1,267
Studio $816
1 Bed $1,388
2 Beds $1,865
3 Beds $1,547

How Does Newark Compare to Nearby Cities

Average Rent Y-o-Y Change
East Orange $1,183 3%
Upper Montclair $1,657 -7%
Caldwell $1,564 7%
Roseland $2,727 1%
Short Hills $2,358 3%
Newark $1,155 -1%
Brookdale $1,575 2%
Glen Ridge $1,265 2%
North Caldwell $1,564 7%
Silver Lake $1,211 -1%

For more information about the Newark rental trends, check out our monthly rent report

Cheapest Listings on RENTCafé

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The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Newark apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

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