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RentData.org Logo Newark Fair Market Rent FY 2021 Newark, NJ HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Newark, NJ :
$1,129 $1,358 $1,643 $2,096 $2,498
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Expensive 40th Percentile Metro Area

Fair Market Rent prices in Newark are very high compared to the national average. This FMR area is more expensive than 98% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Newark is $1,643 per month.

The previous year, rent for a two-bedroom home was $1,483 per month. This is a 10.79% increase year-over-year.

This FMR rate applies to Essex Fells, NJ, Vauxhall, NJ, Roseland, NJ, Millburn, NJ, Glen Ridge, NJ, Fairfield, NJ, Cedar Grove, NJ, Verona, NJ, Short Hills, NJ, South Orange, NJ and other cities within the region. The Metro Code or CBSA code for this region is METRO35620MM5640.

Additionally, This Fair Market Rent (FMR) area Newark, NJ HUD Metro FMR Area spans one county or city in New Jersey which is listed in the table below. Estimated population of Newark, NJ HUD Metro FMR Area FMR area is 800,400 people based on latest Census data.

Compared to the rest of New Jersey, the Newark FMR area is more expensive than 60% of the state.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Newark. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Newark

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 1221
1-BR 1-Bedroom $ 1468
2-BR 2-Bedroom $ 1776
3-BR 3-Bedroom $ 2265
4-BR 4-Bedroom $ 2700
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Newark, NJ HUD Metro FMR Area FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: New York.

County / Region Est. Population
Newark, NJ Metro 800,400
Zip Codes in Newark, NJ HUD Metro FMR Area

There are 41 unique zip codes in this Fair Market Rent (FMR) area:

07003, 07004, 07006, 07007, 07009, 07017, 07018, 07019, 07021, 07028, 07039, 07040, 07041, 07042, 07043, 07044, 07050, 07051, 07052, 07068, 07078, 07079, 07083, 07088, 07101, 07102, 07103, 07104, 07105, 07106, 07107, 07108, 07109, 07110, 07111, 07112, 07114, 07175, 07201, 07205 and 07424

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