Rentometer, Inc. | Data as of 10/22/2025
Located in the heart of New Jersey, the Preakness area offers a vibrant urban lifestyle complemented by convenient access to major transportation corridors, cultural attractions, and green spaces. Residents enjoy a blend of historic architecture and modern developments, with easy commuter routes to New York City via nearby train stations and highways. The neighborhood’s lively streets are lined with cafés, boutique shops, and dining venues, while parks such as Branch Brook Park provide ample opportunities for recreation and community events.
Rental options in Preakness are dominated by apartments, ranging from efficient one‑bedroom units to spacious two‑bedroom layouts. One‑bedroom apartments typically command rent in the $1900‑$2000 range, making them an attractive choice for professionals and small households seeking a balance of comfort and affordability. For those needing extra space, two‑bedroom apartments commonly fall in the $2400‑$2600 bracket, offering additional room for families or home‑office setups. The market’s strong demand reflects the area’s desirability, underscored by its proximity to educational institutions, healthcare facilities, and entertainment districts.
Beyond housing, Preakness benefits from a close-knit community atmosphere and easy access to notable landmarks such as the historic Preakness Race Course and the bustling downtown Newark scene. With a mix of cultural amenities, reliable public transit, and a diverse array of rental choices, Preakness stands out as a dynamic city neighborhood ideal for renters seeking both convenience and character.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,916 | $1,987 | $925 - $2,285 | $1,920 - $2,230 |
| Apartment | 2 Bedroom | $2,436 | $2,600 | $1,100 - $2,895 | $2,475 - $2,720 |
In the current period, the average rent in Preakness was $1,917 for 1 Bedroom, and $2,437 for 2 Bedroom.
Data provided by Rentometer, Inc.