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Rent Prices in Summit, NJ
Median gross rent (rent plus utilities) by number of bedrooms. American Community Survey 2020-2024 5-year estimates.
- Median rent
- $2,430/mo
- New Jersey $1,720/mo
- 2-bedroom median rent
- $2,558/mo
- New Jersey $1,804/mo
- Renters paying 30%+ of income
- 45.0%
- New Jersey 51.6%
- Renter households
- 2,644
- New Jersey 1,268,573
Median rent by number of bedrooms
Gross rent: contract rent plus utilities
| Bedrooms | Median rent |
|---|---|
| Studio (no bedroom) | Not reported |
| 1 bedroom | $1,748/mo |
| 2 bedrooms | $2,558/mo |
| 3 bedrooms | $3,006/mo |
| 4 bedrooms | $3,500 or more/mo |
| 5 or more bedrooms | $2,450/mo |
Rent as a share of income
Renter households where the share could be computed
- Pay 30% or more of income1,06945.0%
- Pay 50% or more of income47920.2%
The median renter household spends 25.5% of its income on rent.
HUD Fair Market Rent, fiscal year 2027
Newark, NJ HUD Metro FMR Area
2 bedrooms: $2,233/mo. HUD Fair Market Rent is used for housing assistance and is not an asking rent.
How it compares
Swipe the table sideways to see more columns.
| Area | Median rent | 1 bedroom | 2 bedrooms | 3 bedrooms | Renters paying 30%+ of income |
|---|---|---|---|---|---|
| Summit, NJ | $2,430/mo | $1,748/mo | $2,558/mo | $3,006/mo | 45.0% |
| Union County | $1,730/mo | $1,407/mo | $1,785/mo | $2,085/mo | 51.4% |
| New Jersey | $1,720/mo | $1,465/mo | $1,804/mo | $2,037/mo | 51.6% |
| United States | $1,413/mo | $1,235/mo | $1,407/mo | $1,584/mo | 51.1% |
Frequently asked questions
- What is the median rent in Summit, NJ?
- The median gross rent in Summit, NJ is $2,430 a month, and a typical 2-bedroom rents for $2,558/mo.
- How does Summit compare with New Jersey?
- The median rent in Summit is $2,430/mo, compared with $1,720/mo for New Jersey as a whole.
Source: U.S. Census Bureau, American Community Survey · 2020-2024 5-year estimates