Rentometer, Inc. | Data as of 10/22/2025
Newark’s rental market offers a dynamic mix of apartments and single‑family homes that cater to a variety of lifestyles, from students and young professionals to growing families. In the downtown core and University Heights, sleek studio and one‑bedroom apartments provide convenient access to Newark Penn Station, the New Jersey Performing Arts Center, and a vibrant restaurant scene, with average rents typically hovering in the $1800‑$2000 range. Larger apartments, including two‑ and three‑bedroom units, are popular in the historic Ironbound district, where tree‑lined streets and the famous Portuguese and Spanish eateries add cultural flair to everyday living.
For renters seeking more space, houses across neighborhoods such as Forest Hill, North Ward, and the Riverfront area deliver a blend of historic charm and modern updates. One‑ and two‑bedroom homes often rent in the $1700‑$2200 bracket, while three‑ and four‑plus bedroom residences command higher rates, reflecting the demand for family‑friendly layouts and proximity to top‑rated schools and parks. Many of these properties feature private yards, garage parking, and easy access to major highways, making commuting to New York City or other parts of New Jersey straightforward.
Overall, Newark’s rental landscape is characterized by its affordability relative to neighboring metropolitan markets, a rich tapestry of cultural attractions, and a growing investment in residential development. Prospective tenants can expect a diverse inventory of options, whether they prefer the buzz of urban apartment living or the tranquility of a suburban‑style house, all within a city known for its historic significance and forward‑looking revitalization initiatives.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,840 | $1,889 | $1,175 - $2,450 | $1,400 - $2,200 |
| Apartment | 1 Bedroom | $1,978 | $2,000 | $925 - $3,180 | $1,650 - $2,300 |
| Apartment | 2 Bedroom | $2,482 | $2,400 | $825 - $4,391 | $1,975 - $2,976 |
| Apartment | 3 Bedroom | $2,439 | $2,400 | $1,350 - $3,465 | $2,100 - $2,695 |
| Apartment | 4+ Bedroom | $2,731 | $2,845 | $375 - $3,700 | $2,700 - $3,070 |
| House | 1 Bedroom | $1,591 | $1,600 | $800 - $2,222 | $1,550 - $1,750 |
| House | 2 Bedroom | $2,171 | $2,100 | $1,350 - $3,200 | $1,900 - $2,300 |
| House | 3 Bedroom | $2,582 | $2,675 | $1,200 - $4,000 | $2,400 - $2,900 |
| House | 4+ Bedroom | $3,445 | $3,305 | $2,250 - $8,500 | $2,650 - $3,700 |
In the current period, the average rent in Newark was $1,841 for Studio, $1,948 for 1 Bedroom, $2,413 for 2 Bedroom, $2,510 for 3 Bedroom, and $3,060 for 4+ Bedroom.
Data provided by Rentometer, Inc.