1 Apartments under 1000 for rent in Newark, NJ

Last updated August 9 at 6:44am UTC
Results within 5 miles of Newark, NJ
144 willow road west
New York
New York, NY
Updated August 9 at 6:44am UTC
Studio
$700

August 2018 Newark Rent Report

Welcome to the August 2018 Newark Rent Report. Newark rents declined over the past month. In this report, we'll evaluate trends in the Newark rental market, including comparisons to similar cities nationwide.

View full Newark Rent Report
Rent Report
Newark

August 2018 Newark Rent Report

Welcome to the August 2018 Newark Rent Report. Newark rents declined over the past month. In this report, we'll evaluate trends in the Newark rental market, including comparisons to similar cities nationwide.

Newark rents decline sharply over the past month

Newark rents have declined 1.5% over the past month, but are up slightly by 1.7% in comparison to the same time last year. Currently, median rents in Newark stand at $1,190 for a one-bedroom apartment and $1,420 for a two-bedroom. Newark's year-over-year rent growth leads the state average of 0.5%, as well as the national average of 1.2%.

Many large cities nationwide show more affordable rents compared to Newark

As rents have increased slightly in Newark, large cities nationwide have seen rents grow more quickly. Compared to most large cities across the country, Newark is less affordable for renters.

  • Newark's median two-bedroom rent of $1,420 is above the national average of $1,180. Nationwide, rents have grown by 1.2% over the past year compared to the 1.7% rise in Newark.
  • While Newark's rents rose slightly over the past year, some cities nationwide saw decreases, including Seattle (-2.4%) and Chicago (-1.8%).
  • Renters will generally find more expensive prices in Newark than most large cities. For example, Houston has a median 2BR rent of $1,030.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.