Apartments in Benders Corner New Providence

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4
$1,895 - 2,300
Murray Hill Gardens Southgate Road & Ethan Drive & Foley Place New Providence, NJ
1 - 2 BR | Available Now
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Disability Access
Dishwasher
39
$2,447 - 7,253
One Lone Pine Drive, Berkeley Heights, NJ
1 - 2 BR | Available Now
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16
$3,450 - 5,250
53 Division Ave New Providence, NJ
2 - 3 BR | May. 7, 2024
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New Providence:
April Rent Report

Welcome to the April 2024 New Providence Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the April 2024 key findings and figures for the New Providence rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in New Providence 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 New Providence average rent prices in the chart below.

Monthly Rent Report

$3,500
$2,630
$1,750
$880
$0
May. 2023
Jun. 2023
Jul. 2023
Aug. 2023
Sep. 2023
Oct. 2023
Nov. 2023
Dec. 2023
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
1 BR       2 BR

New Providence Rent Prices Increase From March to April

New Providence rent prices increased over the last month. From March to April, the city experienced a 0.89% increase for the price of a one-bedroom apartment. The rent price for a New Providence one-bedroom apartments currently stands at $2,615.0.

When we take a look at the two-bedroom comparison from March to April, New Providence experienced a -10.28% decrease for the price of a two-bedroom apartment. The rent price for a New Providence two-bedroom apartments currently stands at $2,862.0.

April Prices: New Providence vs. Surrounding Areas

Rent Prices in New Providence and Surrounding Areas

Rent prices have increased in New Providence 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 New Providence 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 New Providence suburbs

  • Rents did not decrease in any of the New Providence suburbs.

April 2024 Pricing Trends: New Providence vs. National Comparisons

New York, NY
San Francisco, CA
Washington, DC
Los Angeles, CA
Chicago, IL
Minneapolis, MN
Columbus, OH
Pittsburgh, PA
$3,994
$3,038
$2,355
$2,347
$1,893
$1,300
$1,264
$1,145
$0
$1,300
$2,600
$3,900
$5,200
Median Rent

New Providence Rent Prices More Affordable Than Major Cities

Rent growth in New Providence over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, New Providence average rent prices appear to be relatively affordable for local residents.

The price for a New Providence one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about New Providence and surrounding area rent prices, take a look at the complete data set below.

Data set for New Providence and suburbs

1 BR April 1 BR M/M % Change 2 BR April 2 BR M/M % Change

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.