Envy by Gomes
58-84 Norfolk St,
Newark, NJ 07103
1-2 Beds | $2,000 - $2,600
Rental Market Trends in Newark, NJ
What is the average rent in Newark, NJ?
$1,520/month
Average Rent
616 Sq Ft
Average Apartment Size
+0.8%
Increase in the Last Year
As of March 2025, the average rent in Newark, NJ is $1,520 per month. For comparison, the national average rent price in the US is currently $1,559/month, which means Newark rent prices are 3% lower than the national average. When you rent an apartment in Newark, you can expect to pay about $1,327 per month for a studio, $1,520 for a one-bedroom apartment, and around $1,953 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,061 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Newark, NJ?
In the past year, rent has increased by 0.8%, which averages out to $13 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2025
Legend
2024
2025
Rent Ranges in Newark, NJ
Last Updated March 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
2%
Below $700/month
19%
$700 - $1,000/month
34%
$1,001 - $1,500/month
16%
$1,501 - $2,000/month
29%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Newark?
Based on current rent prices, Upper Clinton Hill, Lower Roseville and Upper Vailsburg are the most affordable neighborhoods in Newark.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Newark?
Based on current rent prices, North Ironbound, Seventh Avenue and Downtown Newark are the most expensive neighborhoods in Newark.
Neighborhood
Average Rent
Average Sq Ft
Which Newark neighborhoods have the most rentals available?
The neighborhoods in Newark with the most apartments available are Greater Newark, Downtown Newark and North Ironbound .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Newark, NJ?
Because the average rent in Newark is $1,520, you’ll want to make about $5,066 per month or $60,792 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Newark, NJ is 14.6% higher than the national average. Generally, housing in Newark is 38.4% more expensive than the national average, with rent falling between $1,327 - $2,061. You can expect to pay 3.9% more for groceries, 6.4% more for utilities, and 6.5% more for transportation.
How does Newark, NJ compare to other nearby cities and neighborhoods?
Use the tool below to compare Newark, NJ to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,116/month
$2,194/month
One Bedroom
$1,209/month
$2,444/month
Two Bedroom
$1,156/month
$2,756/month
Three Bedroom
$1,474/month
$3,073/month
Nearby City Rent Trends
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Property Management Companies in Newark, NJ
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377
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Russo Development
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16
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5,542
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12
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BNE Real Estate Group
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18
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4,119
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15
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JP Management
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12
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2,475
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Ironstate Development Company
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16
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2,737
Units
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4
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2 Communities in Newark
Greystar
-
3,221
Communities
-
893,847
Units
-
828
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1 Community in Newark
Cushman & Wakefield
-
546
Communities
-
125,797
Units
-
278
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1 Community in Newark
AION Management
-
55
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-
18,695
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-
37
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1 Community in Newark
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.
* Percentages may not total 100 due to rounding.