Rent prices in New Jersey (FY2027)
The average FY2027 Fair Market Rent for a 2-bedroom in New Jersey is $2,268 a month including utilities — 29% above the U.S. average, ranging from $1,704 to $2,792 by area. Find your metro below and check what you can afford.
Ranks #6 of 51 (50 states + DC) for 2-bedroom rent. See all states
Metro areas in New Jersey
2-bedroom FMR; arrow = change vs FY2026. Sorted by population in New Jersey. Tap a metro for studio to 4 bedrooms and the income you need.
Rent affordability check
Compares the FY2027 Fair Market Rents averaged across New Jersey with 30% of your gross monthly income — HUD’s line for a “cost-burdened” renter. For the 28/36 rule and your debts, use the full rent affordability calculator.
Income needed at the New Jersey average
Gross yearly income so that rent plus utilities is 30% of income; hourly = yearly ÷ 2,080 hours.
What a Fair Market Rent is (and is not)
A Fair Market Rent (FMR) is set every year by the U.S. Department of Housing and Urban Development (HUD). It is HUD’s estimate of the 40th-percentile gross rent — rent plus utilities (except phone, cable and internet) — paid by recent movers into standard-quality, non-luxury rental homes in an area. In other words, about 40% of recently rented units in the area cost less than the FMR and about 60% cost more.
FMRs are not asking rents and not the price of any specific listing. They are built from Census Bureau American Community Survey rents and updated with inflation and trend factors, so they lag the newest listings and smooth out neighborhood differences. HUD uses them to set Housing Choice Voucher (Section 8) payment standards and other program rents. Treat them as a solid, official benchmark for a typical modest rental — new listings in popular neighborhoods often cost more.
Questions & answers
What is the average rent in New Jersey?
Using HUD’s FY2027 Fair Market Rents, the population-weighted average for a 2-bedroom in New Jersey is $2,268 a month including utilities — 29% above the U.S. average of $1,761. A 1-bedroom averages $1,891 and a studio $1,725.
Where is rent cheapest in New Jersey?
The lowest FY2027 2-bedroom FMR in New Jersey is $1,704 in Vineland, NJ; the highest is $2,792 in Jersey City, NJ.
How much do I need to earn to rent in New Jersey?
At the 30% rule, a 2-bedroom at the state-average FMR of $2,268 needs $90,720 a year in gross income (about $43.62 an hour full-time). A 1-bedroom at $1,891 needs $75,640.
Did rent go up in New Jersey this year?
The population-weighted 2-bedroom FMR in New Jersey changed +1.7% from FY2026 to FY2027, compared with +1.5% for the U.S.
Is the Fair Market Rent what landlords charge?
Not exactly. It is HUD’s 40th-percentile estimate of rent plus utilities paid by recent movers into standard-quality units — a benchmark for a modest rental. Many listings, especially new or central ones, ask more.
Source: HUD User, FY2027 Fair Market Rents (effective October 1, 2026; Federal Register notice), compared with FY2026 revised FMRs. HUD data is in the public domain. State and U.S. averages are Tachlis calculations weighted by each county’s population as listed in HUD’s file. HUD may revise FMRs for areas that request a reevaluation.
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