[RENTCafé Rent Report] Following the national trend, New Jersey’s largest cities display monthly slowdowns
Our September rent report is out and for the first time since February 2017 the national average rent has decreased, by $1, clocking in at $1,471.
New Jersey’s most coveted cities for renters are also seeing monthly drops and throughout the state, rents are witnessing meager changes since August.
Here are the highlights for New Jersey as seen in our September state rent report:
- Newark registers a 0.4% decrease in rent, which takes prices down to an average of $1,198/month. Elizabeth rents ($1,273) also see a 0.3% decrease.
- Jersey City’s average rent clocks in at $2,950 after a 0.2% drop. Compared to August, the average here is $6 cheaper.
- Hoboken, Edgewater, and Weehawken, all register monthly decreases of $6 to $9. Their dip in prices, however, doesn’t change their status as the 3 most expensive cities for renters.
- Paterson is the only large city we analyzed that sees a monthly growth of 0.7%. The average rent here clocks in at $1,238.
You can check out our New Jersey September rent report here: https://www.rentcafe.com/blog/
To compare cities in NJ with others in the U.S., you can also go over our National September Rent Report.
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