Newark, NJ Rental Market Trends
What is the average rent in Newark?
The average rent for an apartment in Newark is $1,507. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Newark, NJ
Last updated November 2023
| Average Rent | Average Apartment Size |
|---|---|
| $1,507 | 711 sq. ft. |
What is the average apartment size in Newark?
The average size for a Newark, NJ apartment is 711 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
85,699 or 76% of the households in Newark, NJ are renter-occupied while 26,936 or 24% are owner-occupied.
Newark, NJ rent trends
Average Rent in Newark, NJ By Neighborhood
| City | Average Rent |
|---|---|
| North Ironbound | $2,126 |
| Fairmount | $2,007 |
| University Heights | $1,650 |
| South Broad Valley | $1,632 |
| Mount Pleasant | $1,462 |
| North Broadway | $1,462 |
| Dayton | $1,409 |
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What are the most affordable neighborhoods in Newark?
The most affordable neighborhoods in Newark are Dayton, where the average rent goes for $1,409/month, Mount Pleasant, where renters pay $1,462/mo on average, and North Broadway, where the average rent goes for $1,462/mo.
What are the most expensive neighborhoods in Newark?
The most expensive neighborhoods in Newark are University Heights ($1,650), Fairmount ($2,007) and North Ironbound ($2,126).
What are the most popular neighborhoods in Newark?
The most popular neighborhood in Newark is Dayton, where there are 0 listings with an average rent of $1,409. Next up is Fairmount, where apartments go for $2,007/month, followed by Mount Pleasant with $1,462 If you’re looking to rent in Newark’s most popular neighborhoods, make sure to also check out North Broadway, where renters pay $1,462 on average, and North Ironbound, where the average monthly rent is $2,126.
Newark | Rent Comparison by Neighborhood
Rent in Dayton is 30% lower than in Fairmount
$1,409
Dayton rent is 7% lower than Newark average
Average Rent
$1,409
$2,007
Fairmount rent is 33% higher than Newark average
Average Rent
$2,007
How Newark Compares to Other Cities
| State | Average Rent |
|---|---|
| New York City | $4,416 |
| Jersey City | $3,577 |
| Jersey Shore | $1,974 |
| Elizabeth | $1,772 |
| Manasquan | $2,178 |
| Passaic | $1,755 |
| Princeton | $2,911 |
| Red Bank | $2,236 |
| Newark | $1,507 |
What is the average price for a storage unit in Newark?
The average rent for a non-climate-controlled 10'x10' storage unit in Newark is $200.5. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.
Most Popular Apartments in Newark
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Newark International Airport Street
Newark International Airport Street, Newark, NJ 07114| 1 BED | $1,000 |