Woodmont Forge at Hopewell
100 Forge Cir,
Pennington, NJ 08534
1-2 Beds | $2,465 - $4,560
Rental Market Trends in Pennington, NJ
What is the average rent in Pennington, NJ?
$2,631/month
Average Rent
959 Sq Ft
Average Apartment Size
+1.5%
Increase in the Last Year
As of June 2025, the average rent in Pennington, NJ is $2,631 per month. This is 62% higher than the national average rent price of $1,627/month, making Pennington one of the most expensive cities in the US. When you rent an apartment in Pennington, you can expect to pay about per month for a studio, $2,631 for a one-bedroom apartment, and around $3,122 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay 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 Pennington, NJ?
In the past year, rent has increased by 1.5%, which averages out to $41 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 June 2025
Legend
2024
2025
Rent Ranges in Pennington, NJ
Last Updated June 2025
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
0%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
100%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Pennington?
Based on current rent prices, Pennington/Hopewell is the most affordable neighborhood in Pennington.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Pennington?
Based on current rent prices, Pennington/Hopewell is the most expensive neighborhood in Pennington.
Neighborhood
Average Rent
Average Sq Ft
Which Pennington neighborhoods have the most rentals available?
The neighborhood in Pennington with the most apartments available is Pennington/Hopewell .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Pennington, NJ?
Because the average rent in Pennington is $2,631, you’ll want to make about $8,770 per month or $105,240 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.
How does Pennington, NJ compare to other nearby cities and neighborhoods?
Use the tool below to compare Pennington, 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
-
-
One Bedroom
$2,654/month
$2,654/month
Two Bedroom
$3,245/month
$3,245/month
Three Bedroom
-
-
Nearby City Rent Trends
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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.