Newark, NJ Rental Market Trends
Highlights
The average rent for an apartment in Newark is $1,212, a 5% increase compared to the previous year.
Average Rent in Newark, NJ
Last updated October 2019
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,212 | 5% | 707 sq. ft. |
The average size for a Newark, NJ apartment is 707 square feet, but this number varies greatly depending on apartment type. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Newark, NJ Apartment Rent Ranges
- < $5001%
- $501-$7007%
- $701-$1,00033%
- $1,001-$1,50040%
- $1,501-$2,00011%
- > $2,0008%
Newark, NJ Occupied Housing Units
- Renter-occupied Households38%
- Owner-occupied Households61%
36,948 or 38% of the households in Newark, NJ are renter-occupied while 58,368 or 61% are owner-occupied.
Newark, NJ Rent Trends
| Average Rent | Nov / 2016 | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Oct / 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Newark, NJ | $1,125 | $1,125 | $1,150 | $1,148 | $1,152 | $1,156 | $1,159 | $1,179 | $1,199 | $1,212 |
| National | $1,353 | $1,349 | $1,381 | $1,383 | $1,386 | $1,421 | $1,430 | $1,434 | $1,470 | $1,476 |
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Cheapest Listings on RENTCafé
- Cherry Tree Village
- Telephone Heights
- The Willows at Symphony Hall
- Springfield Commons
- Chancellor Arms One
- La Plaza
- The Willows at Lincoln Park
- 360 New Street
- 23 Fulton Street
- 19 Fulton Street
- Clinton Street Lofts
- 999 Broad
- Richardson Lofts
- 35 Edison Place
- Lincoln Park Lofts
- 53 University Ave
- 91 Halsey Street
- 124 Adams Street
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 ~90% of the U.S. metro area population, including ~17 million apartments across more than 130 U.S. markets.