West New York, 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 West New York, New Jersey rental market.
Highlights
An apartment for rent in West New York, New Jersey typically goes for $3,084 per month, while a single-family home for rent in West New York, New Jersey has a monthly cost of around $3,145. Renter-occupied units make up 76% of the local housing market, while the rental vacancy rate in West New York, New Jersey is at 4.
West New York, New Jersey
Average Apartment Rent
$3,084
Y-o-Y Change in Average
Apartment Rent
0.1%
Average Single-Family Rent
$3,145
As of November 2024
Compared to a year ago, West New York, New Jersey apartments have recorded a 0.1% rent increase.
West New York, New Jersey Average apartment rent trend
West New York, New Jersey Average Apartment Rent
West New York, New Jersey Apartment rent ranges
At 91%, apartments priced Over $2,000 represent the bulk of West New York, New Jersey rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 9%.
West New York, New Jersey Housing tenure**
Renters take up 76% of West New York, New Jersey real estate, occupying a total of 15,758 units, while homeowners live in 4,850 properties.
Median number of rooms of renter-occupied housing units**
3.7
Renter median household income**
$60,302
Average household size of renter-occupied housing units**
2.61
Rental vacancy rate**
4%
West New York, New Jersey Renter-occupied housing units by no. of bedrooms**
There are 6,125 rentals in West New York, New Jersey with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 126 units. Overall, the median number of rooms in West New York, New Jersey homes for rent is 3.7.
West New York, New Jersey Renter-occupied units by age of householder**
Most condos for rent in West New York, 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 15 - 24 years age group make up the lowest share of the local rental market – 2%.
West New York, New Jersey Renter-occupied housing units by family type**
West New York, New Jersey Renter-occupied housing units by the presence of own children**
A total of 9,692 apartments for rent in West New York, New Jersey, or 62% of all rentals are family households. Additionally, 30% of rental homes include children under the age of 18 – that’s 4,713 units. All in all, the median size of a renter-occupied household in West New York, New Jersey is 2.61.
West New York, New Jersey Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 33% of the rental market. In contrast, residents with less than a high school degree reside in 26% of the homes for rent in West New York, New Jersey.
West New York, New Jersey Renter-occupied units by year structure built**
The highest share of West New York, New Jersey apartment rentals, namely 23% or 3,609 units, were Built 1939 or earlier, followed by those Built 1960 - 1969 (13%, 2,113 units), and the ones Built 1950 - 1959 (12%, 1,920 units).
West New York, New Jersey Renter-occupied units by year householder moved in**
Median year renter moved into unit 2014
Most West New York, New Jersey renters (44%) moved in 2010 to 2017, while only 5% of them moved in 1990 to 1999. Overall, the median year renters have occupied their West New York, New Jersey condos for rent is 2014.
West New York, New Jersey Renter-occupied housing units by vehicles available**
When it comes to transportation options, 48% of West New York, New Jersey renters have No vehicle available per household, 40% of them have 1 vehicle available, and 10% have 2 vehicles available.
West New York, New Jersey Means of transportation to work of householders living in renter-occupied housing units**
West New York, New Jersey Geographical mobility in the past year for householders living in renter-occupied housing units**
West New York, 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 West New York, 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
