THE GRAND AT MORRIS
540 Morris Ave,
Elizabeth, NJ 07208
1-2 Beds | $2,150 - $2,895
Rental Market Trends in Elizabeth, NJ
What is the average rent in Elizabeth, NJ?
$1,551/month
Average Rent
622 Sq Ft
Average Apartment Size
+1.3%
Increase in the Last Year
As of July 2025, the average rent in Elizabeth, NJ is $1,551 per month. For comparison, the national average rent price in the US is currently $1,637/month, which means Elizabeth rent prices are 5% lower than the national average. When you rent an apartment in Elizabeth, you can expect to pay about $1,388 per month for a studio, $1,551 for a one-bedroom apartment, and around $2,007 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,074 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Elizabeth, NJ?
In the past year, rent has increased by 1.3%, which averages out to $20 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024
2025
Rent Ranges in Elizabeth, NJ
Last Updated July 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
2%
Below $700/month
9%
$700 - $1,000/month
41%
$1,001 - $1,500/month
28%
$1,501 - $2,000/month
19%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Elizabeth?
Based on current rent prices, Downtown Elizabeth is the most affordable neighborhood in Elizabeth.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Elizabeth?
Based on current rent prices, Downtown Elizabeth is the most expensive neighborhood in Elizabeth.
Neighborhood
Average Rent
Average Sq Ft
Which Elizabeth neighborhoods have the most rentals available?
The neighborhood in Elizabeth with the most apartments available is Downtown Elizabeth .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Elizabeth, NJ?
Because the average rent in Elizabeth is $1,551, you’ll want to make about $5,170 per month or $62,040 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Elizabeth, NJ is 13.9% higher than the national average. Generally, housing in Elizabeth is 35.3% more expensive than the national average, with rent falling between $1,388 - $2,074. You can expect to pay 5.2% more for groceries, 3.6% more for utilities, and 5.0% more for transportation.
How does Elizabeth, NJ compare to other nearby cities and neighborhoods?
Use the tool below to compare Elizabeth, NJ to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,465/month
$1,465/month
One Bedroom
$1,783/month
$1,783/month
Two Bedroom
$2,427/month
$2,427/month
Three Bedroom
$1,996/month
$1,996/month
Nearby City Rent Trends
Apartment communities in Elizabeth we think you'll love
Property Management Companies in Elizabeth, NJ
Cammeby's
-
74
Communities
-
19,695
Units
-
52
Cities
4 Communities in Elizabeth
Legow Management Company
-
33
Communities
-
3,838
Units
-
24
Cities
2 Communities in Elizabeth
Russo Development
-
18
Communities
-
6,062
Units
-
13
Cities
2 Communities in Elizabeth
JP Management
-
12
Communities
-
2,493
Units
-
10
Cities
2 Communities in Elizabeth
Greystar
-
3,276
Communities
-
911,127
Units
-
847
Cities
1 Community in Elizabeth
Inland Real Estate
-
78
Communities
-
19,551
Units
-
58
Cities
1 Community in Elizabeth
Garden Communities
-
71
Communities
-
21,543
Units
-
47
Cities
1 Community in Elizabeth
Rushmore Management
-
56
Communities
-
11,230
Units
-
36
Cities
1 Community in Elizabeth
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.