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min read

New Jersey Market Rental Trends Report

Relocity's rental trends report shows you how the nation’s major rental markets stack up and reveals 2024 pricing trends.

Morristown

In recent months, inventory has increased in Morristown, particularly in luxury buildings with top-of-the-line amenities. Prices for 1- and 2-bedroom apartments have remained relatively stable over the last 3-6-months. There's been a slight decrease in studio pricing, while 3-bedroom apartments have dropped more noticeably, likely due to increased supply and slower demand over the summer. The median rent in Morristown, NJ is $3,200, 53% higher than the national median.

Princeton

Prices have generally remained stable over the last 3-6-months for 1-bed and 2-bed apartments, with a decrease in studio pricing and a slight decrease in pricing for 3-bedrooms. The modest price adjustments, especially for more affordable units, is likely due to a steady rental inventory and ongoing demand. The median rent in Princeton, NJ is $3,525, 68% higher than the national median.

Jersey City

Rental prices for studio and 1-bedroom apartments in Jersey City have stayed relatively consistent, while the cost of 2- and 3-bedroom units has increased a bit over the last 3-6 months. Even as new inventory is added in up-and-coming neighborhoods, Jersey City continues to be a desirable and competitive place to live. The median rent for property in Jersey City, NJ is $2,500, 19% higher than the national median. The cost of rent varies depending on several factors, including location, size, and quality.

Apartment Options

Morristown

The Monroe

  • Studio
  • Sq Ft: 513
  • Rent: $2,374

The Monroe

  • 1 br/1 ba
  • Sq Ft: 636
  • Rent: $2,574

The Carlton

  • 2 br/1 ba
  • Sq Ft: 1,600
  • Rent: $3,195

Carriage House

  • 3 br/2.5 ba
  • Sq Ft: 1,733
  • Rent: $3,885

Princeton

Avalon Princeton Circle

  • Studio
  • Sq Ft: 520
  • Rent: $2,535

Avalon Princeton Circle

  • 1 br/1 ba
  • Sq Ft: 727
  • Rent: $2,721

Avalon Princeton Circle

  • 2 br/2 ba
  • Sq Ft: 1,212
  • Rent: $3,250

Barclay Square

  • 3 br/2.5 ba
  • Sq Ft: 1,867
  • Rent: $4,297

Jersey City

Atlantic Apartments

  • Studio
  • Sq Ft: 654
  • Rent: $2,968

485 Marin

  • 1 br/1 ba
  • Sq Ft: 663
  • Rent: $3,302

The Devan

  • 2 br/2 ba
  • Sq Ft: 1,058
  • Rent: $4,570

829 Garfield

  • 3 br/2 ba
  • Sq Ft: 1,078
  • Rent: $3,550

Relocity

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