Newark Rent Report: April 2025
Welcome to the Apartment List April 2025 Rent Report for Newark, NJ. Currently, the overall median rent in the city stands at $1,678, roughly the same as last month. Prices remain up 1.9% year-over-year. Read on to learn more about what’s been happening in the Newark rental market and how it compares to trends throughout the broader New York metro area and the nation as a whole.
Newark rents are flat month-over-month and up 1.9% year-over-year
The median rent in Newark fell by 0.4% over the course of March, and has now increased by a total of 1.9% over the past 12 months. Newark’s rent growth over the past year has is similar to the state average (1.5%) and has outpaced the national average (-0.4%).
Newark rent growth in 2025 pacing below last year
Three months into the year, rents in Newark have fallen 1.0%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to March 2024 rents had increased 0.1%.
March rent growth in Newark ranked #98 among large U.S. cities
Newark rents went down 0.4% in the past month, compared to the national rate of 0.6%. Among the nation's 100 largest cities, this ranks #98. Similar monthly rent growth took place in Spring Valley, NV (-0.4%) and St. Petersburg, FL (-0.6%).
Newark is the #29 most expensive large city in the U.S., with a median rent of $1,678
Citywide, the median rent currently stands at $1,258 for a 1-bedroom apartment and $1,731 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,678. That ranks #29 in the nation, among the country's 100 largest cities.
For comparison, the median rent across the nation as a whole is $1,216 for a 1-bedroom, $1,370 for a 2-bedroom, and $1,384 overall. The median rent in Newark is 21.3% higher than the national, and is similar to the prices you would find in Chesapeake, VA ($1,684) and Plano, TX ($1,674).
Newark rents are 24.4% lower than the metro-wide median
If we expand our view to the wider New York metro area, the median rent is $2,219 meaning that the median price in Newark ($1,678) is 24.4% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at 2.0%, above the rate of rent growth within just the city.
The table below shows the latest rent stats for 14 cities in the New York metro area that are included in our database. Among them, Hoboken is currently the most expensive, with a median rent of $3,430. Newark is the metro’s most affordable city, with a median rent of $1,678. The metro's fastest annual rent growth is occurring in New York City (5.5%) while the slowest is in Fort Lee (-5.3%).
You can also use the map below to explore the latest rent trends in the New York metropolitan area.
Methodology
Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.
Data Access
Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.
