Here’s where highest (and lowest) apartment rents in N.J. are found

By Eric Strauss
New Jersey | May 15, 2019 at 11:03 am

Wondering where you should get an apartment in Jersey? Well, if rent is a factor, you might want to avoid the Gold Coast, at least according to a recent study by RENTCafe.com.

The three highest monthly rents in the website’s April Rent Report were found in Hoboken and Edgewater, both well over $3,000 a month, and Jersey City, which fell just short of that mark.

At the other end of the spectrum, average rents in Irvington and Lindenwold failed to crack the $1,000-a-month mark.

Among New Jersey’s most prominent cities, Trenton actually had the highest growth rate, up 5.3% from 2018 — but the average rent of $1,122 was still the third-lowest in the survey.

Nationally, the average rent price rose 3% year-over-year, to $1,436 per month.

The five highest average monthly rents in April:

  • Hoboken, $3,472;
  • Edgewater, $3,168;
  • Jersey City, $2,922;
  • West New York, $2,533;
  • Fort Lee, $2,527.

The five lowest:

  • Irvington, $946;
  • Lindenwold, $970;
  • Trenton, $1,122;
  • Blackwood, $1,134;
  • Newark, $1,170.

The report was based on data from Yardi Matrix compiled from actual rents charged in market-rate apartment communities with 50 or more units.

For the complete report, see below or click here.

Eric Strauss | estrauss@roi-nj.com | acerimrat