{"id":73582,"date":"2019-05-14T07:08:10","date_gmt":"2019-05-14T14:08:10","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=73582"},"modified":"2021-10-20T06:10:06","modified_gmt":"2021-10-20T13:10:06","slug":"new-jersey-rent-report-april-2019","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/","title":{"rendered":"New Jersey Rent Report &#8211; April 2019"},"content":{"rendered":"<ul>\n<li><em>The national average rent reached $1,436\u00a0in April 2019, up by 3% ($42) year over year, and by 0.3% ($5) month over month, according to\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">Yardi Matrix<\/a>\u00a0data.<\/em><\/li>\n<li><em>Orange, NJ renters saw the highest annual rent increase in April, reaching $1,276\u00a0<\/em><em>per month.\u00a0<\/em><\/li>\n<li><em>Among the state&#8217;s largest cities, Jersey City apartments are the most expensive, while apartments in\u00a0Trenton have the cheapest rents.\u00a0<\/em><\/li>\n<\/ul>\n<h3>Rents see a 3% annual increase in April, the lowest annual increase in 11 months<o:p><\/o:p><\/h3>\n<p>Nationally, average rent prices rose by 3% year-over-year, according to the latest\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">Yardi Matrix<\/a>\u00a0data on apartment market trends. Rents averaged\u00a0<strong>$1,436<\/strong>\u00a0this April \u2014 the second month in a row to witness a 0.3% m-o-m growth. Compared to last April, renters pay $42 more on average per month following relatively flat m-o-m rent increases during the off-season.<\/p>\n<p><script id=\"infogram_0__\/2UnnoGxYKm6kqJSzZBnW\" title=\"New Jersey - Avg Rent By City\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?JwH\" type=\"text\/javascript\"><\/script><\/p>\n<h3>Renting in New Jersey&#8217;s large cities in April 2019<\/h3>\n<p>The average rent in New Jersey&#8217;s largest cities is generally lower than the national average rent. The fastest growing rents in April were in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/trenton-nj\/\">Trenton<\/a>, where rental apartment\u00a0prices increased by <strong>5.3%<\/strong> over the year, but have stagnated since the end of March. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/nj\/hamilton-township\/\">Hamilton apartments<\/a> saw the second highest annual increase, jumping by <strong>4.4%<\/strong>, <strong>$59<\/strong> more expensive than the same month last year. On the other hand, rents in <strong>Union\u00a0<\/strong>have decreased by <strong>1%<\/strong> year-over-year.<\/p>\n<p>Of the large cities analyzed, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/jersey-city-nj\/\">Jersey City apartments<\/a> are the state&#8217;s most expensive for renters, with an average rent of <strong>$2,922<\/strong>, followed by <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/union-city-nj\/\">apartments in Union<\/a>, where the average monthly rent is <strong>$1,795<\/strong>. On the other hand, the cheapest large city to rent an apartment in, of the cities analyzed is <strong>Trenton<\/strong>, with an average apartment rent of <strong>$1,122<\/strong>.<\/p>\n<h3>Renting in New Jersey&#8217;s small cities in April 2019<\/h3>\n<p>Small cities in New Jersey follow the national trend by displaying the fastest rent increases in their state. <strong><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/city-of-orange-nj\/\">Orange City<\/a><\/strong> witnessed a <strong>6.8%<\/strong> year-over-year rent growth, closely followed by <strong>Blackwood<\/strong>, where apartments are <strong>6,2%<\/strong> more expensive to rent than a year ago.<\/p>\n<p>By far, the most expensive apartments in the state are in\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/hoboken-nj\/\">Hoboken<\/a>,\u00a0with an average rent of <strong>$3,472<\/strong>. The runner up is <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/edgewater-nj\/\">Edgewater<\/a> ($3,168), followed by <strong>Jersey City,<\/strong> with a $2,922 average per month.<\/p>\n<h3>Methodology<\/h3>\n<p><em><a href=\"https:\/\/www.rentcafe.com\/\" target=\"_blank\" rel=\"noopener\">RentCafe<\/a>\u00a0is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><o:p><\/o:p><\/p>\n<p><em>To prepare the state rent report, we analyzed only cities with a rental stock of at least 2,000 apartments in 50+ unit buildings. To compile the national rent report, RentCafe\u2019s research team analyzed rent data across the 253 largest cities in the U.S., in large-scale apartment buildings with 50 or more units. <\/em><o:p><\/o:p><\/p>\n<p><em>Rent data was provided by\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">Yardi Matrix<\/a>, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Rental rate coverage is for Market Rate properties only. Fully Affordable properties are not included in the Yardi Matrix rental surveys and are not reported in rental rate averages.<\/em><o:p><\/o:p><\/p>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<h3>Fair use and redistribution<\/h3>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The national average rent reached $1,436\u00a0in April 2019, up by 3% ($42) year over year, and by 0.3% ($5) month over month, according to\u00a0Yardi Matrix\u00a0data. Orange, NJ renters saw the highest annual rent increase in April, reaching $1,276\u00a0per month.\u00a0 Among the state&#8217;s largest cities, Jersey City apartments are the most expensive, while apartments in\u00a0Trenton have&hellip;<\/p>\n","protected":false},"author":149,"featured_media":74752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16366,38713],"tags":[],"class_list":["post-73582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-rent-reports","category-nosidebar","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New Jersey Rent Report - April 2019 - RentCafe rental blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Jersey Rent Report - April 2019\" \/>\n<meta property=\"og:description\" content=\"The national average rent reached $1,436\u00a0in April 2019, up by 3% ($42) year over year, and by 0.3% ($5) month over month, according to\u00a0Yardi Matrix\u00a0data. Orange, NJ renters saw the highest annual rent increase in April, reaching $1,276\u00a0per month.\u00a0 Among the state&#8217;s largest cities, Jersey City apartments are the most expensive, while apartments in\u00a0Trenton have&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-14T14:08:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-20T13:10:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/05\/New-Jersey_rent-report_890x400.png\" \/>\n\t<meta property=\"og:image:width\" content=\"890\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Marina Andresi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Marina Andresi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/\",\"name\":\"New Jersey Rent Report - April 2019 - RentCafe rental blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/05\/New-Jersey_rent-report_890x400.png\",\"datePublished\":\"2019-05-14T14:08:10+00:00\",\"dateModified\":\"2021-10-20T13:10:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/1d8d2759c3b8c6213d031b5efbc74288\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/#primaryimage\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/05\/New-Jersey_rent-report_890x400.png\",\"contentUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/05\/New-Jersey_rent-report_890x400.png\",\"width\":890,\"height\":400,\"caption\":\"New_Jersey_rent_report_April_RentCafe\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-april-2019\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rentcafe.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New Jersey Rent Report &#8211; April 2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/\",\"name\":\"RentCafe rental blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rentcafe.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/1d8d2759c3b8c6213d031b5efbc74288\",\"name\":\"Marina Andresi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/12\/Default_profile_pic.png?w=96\",\"contentUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/12\/Default_profile_pic.png?w=96\",\"caption\":\"Marina Andresi\"},\"description\":\"Marina is a marketing content developer for RENTCaf\u00e9.com. 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