New Brunswick, 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 New Brunswick, New Jersey rental market.
New Brunswick, New Jersey
Average Apartment Rent
$2,323
Y-o-Y Change in Average
Apartment Rent
-1.7%
As of July 2024
Compared to a year ago, New Brunswick, New Jersey apartments have recorded a -1.7% rent decrease.
New Brunswick, New Jersey Average apartment rent trend
New Brunswick, New Jersey Average Apartment Rent
New Brunswick, New Jersey Apartment rent ranges
At 58.92%, apartments priced Over $2,000 represent the bulk of New Brunswick, New Jersey rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 15.91%.
New Brunswick, New Jersey Housing tenure**
Renters take up 80% of New Brunswick, New Jersey real estate, occupying a total of 12,470 units, while homeowners live in 3,156 properties.
Median number of rooms of renter-occupied housing units**
3.7
Renter median household income**
$50,338
Average household size of renter-occupied housing units**
2.94
Rental vacancy rate**
4.4%
New Brunswick, New Jersey Renter-occupied housing units by no. of bedrooms**
There are 4,871 rentals in New Brunswick, 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 (3%), amounting to 317 units. Overall, the median number of rooms in New Brunswick, New Jersey homes for rent is 3.7.
New Brunswick, New Jersey Renter-occupied units by age of householder**
Most condos for rent in New Brunswick, New Jersey are occupied by residents in the 25 - 34 years age group (27%), followed by those in the 35 - 44 years age group (19%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
New Brunswick, New Jersey Renter-occupied housing units by family type**
New Brunswick, New Jersey Renter-occupied housing units by the presence of own children**
A total of 6,364 apartments for rent in New Brunswick, New Jersey, or 51% of all rentals are family households. Additionally, 33% of rental homes include children under the age of 18 – that’s 4,107 units. All in all, the median size of a renter-occupied household in New Brunswick, New Jersey is 2.94.
New Brunswick, New Jersey Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 26% of the rental market. In contrast, residents with less than a high school degree reside in 29% of the homes for rent in New Brunswick, New Jersey.
New Brunswick, New Jersey Renter-occupied units by year structure built**
The highest share of New Brunswick, New Jersey apartment rentals, namely 20% or 2,530 units, were Built 1939 or earlier, followed by those Built 2000 - 2009 (13%, 1,654 units), and the ones Built 1970 - 1979 (13%, 1,652 units).
New Brunswick, New Jersey Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most New Brunswick, New Jersey renters (43%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their New Brunswick, New Jersey condos for rent is 2016.
New Brunswick, New Jersey Renter-occupied housing units by vehicles available**
When it comes to transportation options, 36% of New Brunswick, New Jersey renters have 1 vehicle available per household, 36% of them have No vehicle available, and 20% have 2 vehicles available.
New Brunswick, New Jersey Means of transportation to work of householders living in renter-occupied housing units**
New Brunswick, New Jersey Geographical mobility in the past year for householders living in renter-occupied housing units**
New Brunswick, 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 New Brunswick, 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
