The Metropolitan
92 Millburn Ave,
Springfield, NJ 07081
1-3 Beds | $3,275 - $9,195
Rental Market Trends in Summit, NJ
Updated July 2026
The average rent in Summit, NJ is $2,254/month.
Rent in Summit is 36% higher than the national average rent of $1,662/month, making this one of the more expensive cities statewide.
$2,254/month
Average Rent
689 Sq Ft
Average Size
+1.5%
Change / Year
202
Available Apartments
Summit rent varies by unit size and layout:
- Studio apartments in Summit average $1,496 per month.
- One-bedroom apartments in Summit average $2,254 per month.
- Two-bedroom apartments in Summit average $2,987 per month.
- Three-bedroom apartments in Summit average $3,975 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
How much has average rent changed in Summit, NJ?
In the past year, rent has increased by 1.5%, which averages out to $33 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Summit, NJ
July 2026
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
11%
$1,501 - $2,000/month
89%
Above $2,000/month
What salary do I need to live comfortably in Summit, NJ?
Because the average rent in Summit is $2,254, you’ll want to make about $7,513 per month or $90,156 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 Summit, NJ compare to other nearby cities and neighborhoods?
Use the tool below to compare Summit, 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 Summit Area GuideApartment Communities in Summit We Think You'll Love
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Frequently Asked Questions
What is the average rent in Summit?
The average rent in Summit is $2,254 per month, which is 35.6% higher than the national average of $1,662.
What is the average rent for a condo in Summit?
The average rent for a condo in Summit, NJ is $3,337 per month.
Are rents going up or down in Summit?
Rents in Summit, NJ are increasing, with prices up 1.5% year-over-year and $33 more per month.
What rent range is most common in Summit?
In Summit, NJ, 89% 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.