Bayonne, New Jersey Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Bayonne, New Jersey rental market.
Highlights
An apartment for rent in Bayonne, New Jersey typically goes for $2,558 per month, while a single-family home for rent in Bayonne, New Jersey has a monthly cost of around $2,411. Renter-occupied units make up 61% of the local housing market, while the rental vacancy rate in Bayonne, New Jersey is at 4.4.
Bayonne, New Jersey
Average Apartment Rent
$2,558
Y-o-Y Change in Average
Apartment Rent
6.5%
Average Single-Family Rent
$2,411
As of November 2024
Compared to a year ago, Bayonne, New Jersey apartments have recorded a 6.5% rent increase.
Bayonne, New Jersey Average apartment rent trend
Bayonne, New Jersey Average Apartment Rent
Bayonne, New Jersey Apartment rent ranges
At 85.1%, apartments priced Over $2,000 represent the bulk of Bayonne, New Jersey rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 0.39%.
Bayonne, New Jersey Housing tenure**
Renters take up 61% of Bayonne, New Jersey real estate, occupying a total of 16,544 units, while homeowners live in 10,654 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$63,130
Average household size of renter-occupied housing units**
2.49
Rental vacancy rate**
4.4%
Bayonne, New Jersey Renter-occupied housing units by no. of bedrooms**
There are 6,283 rentals in Bayonne, New Jersey with 2 beds making up the highest share of the market, at 38%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 242 units. Overall, the median number of rooms in Bayonne, New Jersey homes for rent is 4.
Bayonne, New Jersey Renter-occupied units by age of householder**
Most condos for rent in Bayonne, New Jersey are occupied by residents in the 35 - 44 years age group (24%), followed by those in the 25 - 34 years age group (21%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Bayonne, New Jersey Renter-occupied housing units by family type**
Bayonne, New Jersey Renter-occupied housing units by the presence of own children**
A total of 10,030 apartments for rent in Bayonne, New Jersey, or 61% of all rentals are family households. Additionally, 36% of rental homes include children under the age of 18 – that’s 6,037 units. All in all, the median size of a renter-occupied household in Bayonne, New Jersey is 2.49.
Bayonne, New Jersey Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 40% of the rental market. In contrast, residents with less than a high school degree reside in 10% of the homes for rent in Bayonne, New Jersey.
Bayonne, New Jersey Renter-occupied units by year structure built**
The highest share of Bayonne, New Jersey apartment rentals, namely 28% or 4,646 units, were Built 1939 or earlier, followed by those Built 1950 - 1959 (15%, 2,416 units), and the ones Built 1960 - 1969 (13%, 2,195 units).
Bayonne, New Jersey Renter-occupied units by year householder moved in**
Median year renter moved into unit 2015
Most Bayonne, New Jersey renters (43%) moved in 2010 to 2017, while only 3% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Bayonne, New Jersey condos for rent is 2015.
Bayonne, New Jersey Renter-occupied housing units by vehicles available**
When it comes to transportation options, 48% of Bayonne, New Jersey renters have 1 vehicle available per household, 28% of them have No vehicle available, and 17% have 2 vehicles available.
Bayonne, New Jersey Means of transportation to work of householders living in renter-occupied housing units**
Bayonne, New Jersey Geographical mobility in the past year for householders living in renter-occupied housing units**
Bayonne, New Jersey Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Bayonne, New Jersey apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
