$4,900 Per Month
- 2 Beds
- 3 Baths
- Condo for Rent
220 Butternut Dr, Wayne, NJ 07470
Ronald Evelich EXP Realty, LLC
Frequently Asked Questions
How much does it cost to rent a condo in Oakland, NJ?
The median rent for a condo in Oakland, NJ is $4,900 per month, though prices vary by neighborhood, size, and property type. As of May 2026, single-family homes tend to be the most affordable option.
How much do you need to make to afford rent in Oakland, NJ?
To comfortably afford the median rent in Oakland, NJ, a household needs to earn roughly $196,000 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 $4,900 per month in Oakland, NJ, renters typically need to show $14,700 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 Oakland, NJ?
In Oakland, NJ, the price-to-rent ratio is 13.2, 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 Oakland, NJ are best for renting a condo?
The best neighborhood for renting in Oakland, NJ depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Totowa Section, Riverside and Eastside, each with its own character and price range.
