Apartments in Wood-Ridge

Wood-Ridge:
May Rent Report

Welcome to the May 2024 Wood-Ridge Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2024 key findings and figures for the Wood-Ridge rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Wood-Ridge and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Wood-Ridge average rent prices in the chart below.

May Prices: Wood-Ridge vs. Surrounding Areas

Rent Prices in Wood-Ridge and Surrounding Areas

Rent prices have increased in Wood-Ridge over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Wood-Ridge suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

• Rents did not increase in any of the Wood-Ridge suburbs

• Rents did not decrease in any of the Wood-Ridge suburbs.

Data set for Wood-Ridge and suburbs

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.