Rental market snapshot for Newark, New Jersey

Newark, New Jersey Rental Property Market Overview

Newark, New Jersey is the most populous city in the state, with a population of 307,220 as of 2021, according to the US Census. It is located in the northeastern part of the state, just 8 miles west of Manhattan. Newark is a diverse city, with a rich history and culture. It is home to a variety of attractions, including the Prudential Center, the Newark Museum, and Branch Brook Park. Newark is also home to several universities, including Rutgers University and the New Jersey Institute of Technology. With its vibrant culture, diverse population, and abundance of attractions, Newark is a great place to live and visit.

The average rent for an apartment in Newark is $1,828. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has decreased by -1.1% over the past year.

Last Updated January 31, 2023

Average monthly rent graph in Newark New Jersey | Cost of Living

  • The most expensive ZIP Code in Newark is 07102 with an average price of $2,595
  • The cheapest ZIP Code in Newark is 07105 with an average price of $1,395

Newark ZIP Codes with the highest, most expensive rent

#zip codeaverage rent
107102$2,595
207103$2,000
307108$1,895
407112$1,750
507107$1,705
607104$1,695
707106$1,595
807105$1,395

Live near Newark, New Jersey's Top Sights and Attractions

Weequahic Park is a large public park located in the south end of Newark. It features a variety of recreational activities, including a lake, a golf course, tennis courts, a playground, and a running track. There are also several picnic areas, a bandstand, and a large open field. The park is also home to a variety of wildlife, including ducks, geese, and other birds. The park is a popular destination for locals and visitors alike, providing a peaceful and tranquil escape from the hustle and bustle of the city.

Independence Park is a large, picturesque park located in the heart of the city. It features a variety of recreational activities, including a large playground, a basketball court, a baseball diamond, and a walking path. The park also has a variety of trees, shrubs, and flowers, making it a great place to relax and enjoy nature. There is also a large pond in the center of the park, which is home to a variety of wildlife. Visitors can also take advantage of the park's picnic areas, benches, and grills.

Hunterdon Street Park is a beautiful green space located in the heart of Newark. It features a large grassy area, perfect for picnics and outdoor activities, as well as a playground for children. The park also has a basketball court, a walking path, and a pond with ducks and geese. In addition, there are several benches and picnic tables scattered throughout the park, providing a great place to relax and take in the scenery.

Branch Brook Park is a large urban park located in the northern part of the state. It is the oldest county park in the United States and is home to the nation's largest collection of cherry blossom trees, with over 5,000 trees spread across the park. The park also features a lake, several playgrounds, a golf course, and a variety of walking and biking trails. It is a popular destination for outdoor activities, such as picnicking, fishing, and bird watching.

St Peters Park is a beautiful green space located in the heart of Newark. It features a large pond, a playground, and plenty of walking paths. The park is a popular spot for locals to come and relax, take a stroll, or have a picnic. It also hosts a variety of events throughout the year, such as concerts, festivals, and outdoor movie screenings. The park is also home to a variety of wildlife, including ducks, geese, and other birds.

Lincoln Park is a popular destination in Newark, New Jersey. It is a large, lush park with plenty of green space and a variety of activities. Visitors can enjoy a variety of outdoor activities such as walking, jogging, biking, and picnicking. The park also features a playground, basketball court, and a large pond with a fountain. There are also plenty of benches and picnic tables for visitors to relax and enjoy the scenery. The park is also home to a variety of wildlife, including ducks, geese, and other birds.

West End Avenue Park is a popular outdoor destination in Newark, New Jersey. It features a large, open green space with plenty of room for picnicking, playing sports, and other activities. The park also has a playground, basketball court, and a walking path. There is a pond with a fountain in the center of the park, and plenty of trees and shrubs to provide shade. The park is a great place to relax and enjoy the outdoors.

Ironbound Recreation Center is a vibrant community center located in the heart of a bustling urban area. It offers a wide range of activities and amenities, including a swimming pool, basketball courts, a playground, a fitness center, and a variety of classes and programs. The center also hosts special events throughout the year, such as movie nights, holiday celebrations, and art shows. With its convenient location and wide range of activities, Ironbound Recreation Center is a great place for people of all ages to come together and enjoy the city.

Ivy Hill Park is a sprawling urban oasis located in the heart of a bustling metropolitan area. It features lush green lawns, winding trails, and a variety of recreational activities. Visitors can enjoy a picnic in the park's pavilion, take a leisurely stroll along the winding pathways, or take part in a game of basketball or tennis on the courts. The park also features a playground for children, a pond for fishing, and a variety of other amenities. With its convenient location and wide range of activities, Ivy Hill Park is a great place to spend a day outdoors.

Weequahic Park Golf Course is an 18-hole public golf course located in a scenic park setting. The course features a variety of terrain, including rolling hills, wooded areas, and water hazards. The course is suitable for all skill levels, from beginners to advanced players. The clubhouse offers a pro shop, snack bar, and locker rooms. The course also features a driving range, practice putting green, and a golf cart rental service.

Get updates straight to your inbox

Whenever this data is updated, you'll be the first to know. Don't miss out on crucial market insights.

Sign up

Newark, New Jersey area median rent change by ZIP Code map

Get updates straight to your inbox

Whenever this data is updated, you'll be the first to know. Don't miss out on crucial market insights.

Sign up

How does Newark compare to other cities in New Jersey ?

citymedian price
Chatham$2,895
Egg Harbor City$2,225
Joint Base Mdl$2,202
Middlesex$1,910
Newark$1,750

Average household income in Newark area graph - US Census

Get updates straight to your inbox

Whenever this data is updated, you'll be the first to know. Don't miss out on crucial market insights.

Sign up

The median household income in Newark in 2021 was $37,476. This represents a 5.0% change from 2011 when the median was $35,696.

#categorypercent
0Less than $10,00015.0%
1$10,000 to $14,9997.3%
2$15,000 to $19,9996.8%
3$20,000 to $24,9996.1%
4$25,000 to $29,9996.2%
5$30,000 to $34,9996.2%
6$35,000 to $39,9994.7%
7$40,000 to $44,9994.5%
8$45,000 to $49,9993.4%
9$50,000 to $59,9997.8%
10$60,000 to $74,9997.8%
11$75,000 to $99,9999.6%
12$100,000 to $124,9996.4%
13$125,000 to $149,9992.7%
14$150,000 to $199,9993.4%
15$200,000 or more2.0%

Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.
Made withDataherald