Nova by Gomes
1213-1221 Broad St,
Newark, NJ 07114
Studio - 2 Beds | $1,950 - $2,750
Rental Market Trends in Newark, NJ
Updated July 2026
The average rent in Newark, NJ is $1,610/month.
Rent in Newark is roughly equal to the national average rent of of $1,662/month.
$1,610/month
Average Rent
620 Sq Ft
Average Size
+0.5%
Change / Year
1,865
Available Apartments
Newark rent varies by unit size and layout:
- Studio apartments in Newark average $1,368 per month.
- One-bedroom apartments in Newark average $1,610 per month.
- Two-bedroom apartments in Newark average $2,015 per month.
- Three-bedroom apartments in Newark average $2,094 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Newark, NJ?
In the past year, rent has increased by 0.5%, which averages out to $8 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Newark, NJ
July 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
2%
Below $700/month
17%
$700 - $1,000/month
32%
$1,001 - $1,500/month
16%
$1,501 - $2,000/month
34%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Newark?
Based on current rent prices, North Broadway, West Side and Weequahic are the most affordable neighborhoods in Newark.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Newark?
Based on current rent prices, Mount Pleasant-Lower Broad, Seventh Avenue and Downtown Newark are the most expensive neighborhoods in Newark.
Neighborhood
Average Rent
Average Sq Ft
Which Newark neighborhoods have the most rentals available?
The neighborhoods in Newark with the most apartments available are Greater Newark, Downtown Newark and University Heights .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Newark, NJ?
Because the average rent in Newark is $1,610, you’ll want to make about $5,366 per month or $64,392 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 Newark, NJ is 14.2% higher than the national average. Generally, housing in Newark is 34.6% more expensive than the national average, with rent falling between $1,368 - $2,094. You can expect to pay 5.7% more for groceries, 5.3% more for utilities, and 2.9% more for transportation.
How does Newark, NJ compare to other nearby cities and neighborhoods?
Use the tool below to compare Newark, 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.
View the Newark Area GuideStudio
$1,131/month
$819/month
One Bedroom
$1,345/month
$1,788/month
Two Bedroom
$1,459/month
$2,160/month
Three Bedroom
$1,789/month
$1,251/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Newark We Think You'll Love
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Frequently Asked Questions
What is the average rent in Newark?
The average rent in Newark is $1,610 per month, which is 3.1% lower than the national average of $1,662.
What is the average rent for a house in Newark?
The average rent for a house in Newark, NJ is $2,588 per month.
What is the average rent for a townhome in Newark?
The average rent for a townhome in Newark, NJ is $2,632 per month.
What is the average rent for a condo in Newark?
The average rent for a condo in Newark, NJ is $1,521 per month.
Are rents going up or down in Newark?
Rents in Newark, NJ are increasing, with prices up 0.5% year-over-year and $8 more per month.
What rent range is most common in Newark?
In Newark, NJ, 34% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
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 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.