Newark Fair Market Rent FY 2012 Newark, NJ HUD Metro FMR Area Rental Data

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 $1,289 per month.

The previous year, rent for a two-bedroom home was $1,233 per month. This is a 4.54% 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 793,633 people based on latest Census data.

Compared to the rest of New Jersey, the Newark FMR area is more expensive than 70% of the state.

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.

50^th Percentile Rental Prices: