$2,900 Per Month
- 3 Beds
- 2 Baths
- 1,113 Sq Ft
- House for Rent
55 Ferguson St Unit 2, Newark, NJ 07105
55 Ferguson St Unit 2, Newark, NJ 07105
Frequently Asked Questions
How much does it cost to rent a single-family home in Newark, NJ?
The median rent for a single-family home in Newark, NJ is $2,354 per month, though prices vary by neighborhood, size, and property type. As of June 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Newark, NJ?
To comfortably afford the median rent in Newark, NJ, a household needs to earn roughly $88,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,200 per month in Newark, NJ, renters typically need to show $6,600 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Newark, NJ?
In Newark, NJ, the price-to-rent ratio is 15.6, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Newark, NJ are best for renting a single-family home?
The best neighborhood for renting in Newark, NJ depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a single-family home include South Broad Valley, Downtown Newark, West Side, South Ironbound and North Ironbound, each with its own character and price range.
