Newark, NJ Rental Market Trends
What is the average rent in Newark?
The average rent for an apartment in Newark is $1,394. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Newark, NJ
| Average Rent | Average Apartment Size |
|---|---|
| $1,394 | 710 sq. ft. |
What is the average apartment size in Newark?
The average size for a Newark, NJ apartment is 710 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. 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
Newark, NJ Occupied Housing Units
78,172 or 76% of the households in Newark, NJ are renter-occupied while 24,023 or 24% are owner-occupied.
Newark, NJ rent trends
Average Rent in Newark, NJ By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Industrial | $2,066 |
| North Ironbound | $2,066 |
| South Ironbound | $2,066 |
| West Side Newark | $2,013 |
| Fairmount | $1,904 |
| South Broad Valley | $1,681 |
| Lower Roseville | $1,644 |
| Upper Roseville | $1,644 |
| Springfield - Belmont | $1,595 |
| University Heights | $1,593 |
| Downtown Newark | $1,477 |
| Lincoln Park | $1,477 |
| Forest Hill | $1,423 |
| Mount Pleasant | $1,394 |
| North Broadway | $1,394 |
| Seventh Avenue | $1,394 |
| Lower Clinton Hill | $1,332 |
| Upper Clinton Hill | $1,332 |
| Dayton | $1,308 |
| Weequahic | $1,308 |
| Vailsburg | $984 |
What are the most affordable neighborhoods in Newark?
The most affordable neighborhoods in Newark are Vailsburg, where the average rent goes for $984/month, Dayton, where renters pay $1,308/mo on average, and Weequahic, where the average rent goes for $1,308/mo. If you’re looking for other great deals, check out the listings from Lower Clinton Hill ($1,332), Upper Clinton Hill ($1,332), and Mount Pleasant ($1,394), where the asking prices are below the average Newark rent of $1,394/mo.
What are the most expensive neighborhoods in Newark?
The most expensive neighborhoods in Newark are Industrial ($2,066), North Ironbound ($2,066) and South Ironbound ($2,066).
What are the most popular neighborhoods in Newark?
The most popular neighborhood in Newark is Downtown Newark, where there are 7 listings with an average rent of $1,477. Next up is Mount Pleasant, where apartments go for $1,394/month, followed by Lincoln Park with $1,477 If you’re looking to rent in Newark’s most popular neighborhoods, make sure to also check out Lower Roseville, where renters pay $1,644 on average, and Vailsburg, where the average monthly rent is $984.
Newark | Rent Comparison by Neighborhood
Rent in Dayton is 11% lower than in Downtown Newark
Dayton rent is 6% lower than Newark average
| Average Rent | $1,308 |
|---|
Downtown Newark rent is 6% higher than Newark average
| Average Rent | $1,477 |
|---|
How Newark Compares to Other Cities
| City | Average Rent |
|---|---|
| Manhattan | $4,471 |
| Jersey Shore | $1,881 |
| Brooklyn | $3,194 |
| Jersey City | $3,318 |
| Bronx | $1,682 |
| Queens | $2,780 |
| Stamford | $2,744 |
| Newark | $1,394 |
| East Orange | $1,554 |
| Hoboken | $3,905 |
| Yonkers | $2,253 |
| Camden | $1,142 |
| Elizabeth | $1,532 |
| White Plains | $3,093 |
| New Rochelle | $2,499 |
| Bayonne | $2,257 |
| Long Branch | $2,599 |
| Summit | $2,304 |
| Trenton | $1,542 |
| New Brunswick | $2,224 |
| Passaic | $1,546 |
Most Popular Apartments in Newark
The Willows At Lincoln Park
25 Spruce Street, Newark, NJ 07102- 1 BED
- 2 BEDS
- 3 BEDS
- Ask for pricing
- $1,088
- Ask for pricing