New Jersey Median Rental Costs by Town

The median is found by taking the "middle" value; that is, the value for which half of the samples are larger and half are smaller. The median is preferred over the average in order to minimize the effect that extremely low or high values could have on the result.

For example, if the rental rates for five different locations in Passaic, NJ are $600, $700, $800, $900, and $4,000, the average would be $1,400. The median cost for the same rentals would be $800, which gives a more accurate indication of what a renter might expect to pay.

Generally, higher rental costs are found in eastern North Jersey, particularly outside of New York City and areas around the larger cities, like Newark, Elizabeth, and Paterson.

Cheaper rents are, for the most part, available in South Jersey and western North Jersey. The central part of the state tends to have higher-than-average rental rates.

Around the Jersey Shore, rental rates vary seasonally, with peaks for summer rentals and lower rates in the off-season.

The data presented here intended for comparison of rental prices in various areas of New Jersey. Data is provided by The U.S. Census 2017-2021 American Community Survey 5-Year Estimates

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