With summer coming to an end, so does peak rental season.
RENTCafé has released its annual report of the most expensive ZIP codes throughout the U.S. and found the Top 10 most expensive zip codes in New Jersey for 2019.
The rental listing service looked at 4,400 ZIP codes in more than 130 markets using Yardi Matrix data to create the rankings, it said.
With a few exceptions, the priciest areas for renters in the state are located on the West side of the Hudson River.
RENTCafe found Hoboken to be the No. 1 most expensive ZIP code in New Jersey with an average rent of $3,531 after a 2.7% annual growth.
Coming in at No. 2 and 3 is Jersey City with ZIP codes 07310 and 07302 having average rents of $3,297 and $3,291, respectively.
Edgewater (No. 4), Weehawken (No. 5) and Fort Lee (No. 7) made it into the Top 10 with ZIP codes 07020 ($3,219), 07086 ($3,005) and 07024 ($2,595), respectively. Weehawken had the highest annual increase at 3.9%.
Coming away from the Hudson waterfront, Cranford (No. 6), Florham Park (No. 8) and South Orange (No. 10) each are one of the most exclusive areas for rent.
Cranford’s ZIP code 07016 is the most expensive of the three, hitting an average of $2,956, while Florham Park’s 07932 averages $2,533 and South Orange’s 07079 averages $2,477.
To see the full list, click here.
