Median rent for residential in as of Jul, 2022.
Remember to negotiate your rent according to median rental prices. Also, take into account that the price depends on the size/amenities of the apartment.
8 Summit, NJ, USA apartments for rent
Summit
Summit, NJ has a population of 22,155, while the median age is 40. The household income in Summit, NJ is around $132,443. The homeownership rate among the residents is 71%. The median residential property value in Summit, NJ that you should keep in mind is $849,200.
| Population | 22,155 |
| Median Age | 39.9 |
| Poverty Rate | 5% |
| Household Income | $132,443 |
| Number Of Employees | 10,387 |
| Median Property Value | $849,200 |
Housing Trends
How much is an apartment in Summit, NJ, USA
Average rent in Summit: $4,050 (+9.7%)
| Rent Price | Jul | vs Last Month |
|---|---|---|
| Studio rentals | $3,350 | N/A |
| 1 bed rentals | $2,650 | +76.7% |
| 2 bed rentals | $3,250 | +32.7% |
| 3 bed rentals | $3,862 | -11.1% |
| 4+ bed rentals | $6,625 | +23.1% |
Over the Jul 2022, the average rent for an apartment in/near Summit, NJ increased by 9.7% to $4,050.
Breaking it down in details, we now see that the average price for 1-bed apartment increased by 76.7% to $2,650. Pricing for 2-bed apartment also increased by 32.7% and a place of this size will now cost you $3,250. 3-bed apartment rent pricing starts at $3,862, it decreased by 11.1% lately. We tend to note the rise of 4- and more bed apartment pricing. It increased by 23.1% and made it up to $6,625.
| Rent Type Price | Jul | vs Last Month |
|---|---|---|
| Townhouse rentals | $2,616 | +30.8% |
| Apartment rentals | $3,975 | +19.9% |
| House rentals | $5,187 | +27.4% |
| Condo rentals | $4,300 | +57.8% |
| Duplex rentals | $3,700 | N/A |
The median rent for an apartment in Summit, NJ increased by 19.9% to $3,975. Statistics show that house rent price increased by 27.4% this month making it up to $5,187. Condos faced an upward trend these days. The median rent for a condo increased by 57.8%, it’s now available for $4,300. An average duplex is now available for $3,700, cause median rent for a duplex remains the same this month. The median rent for a townhouse increased by 30.8%, you’ll have to spend around $2,616 to get one.