Average Rent in Monmouth, NJ↓ Rents falling 1.9% YoY

Monmouth, NJ has rental prices ranging from $1,671/month to $3,241/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $1,847/month — 32% above the national average of $1,400/month. With a median household income of $97,334/year, spending $1,847/month on a 1-bedroom represents 23% of gross income — within the recommended 30% threshold.

How Monmouth Compares

With an average 2-bedroom rent of $2,283/month, Monmouth ranks #3 most expensive of the 11 cities tracked in New Jersey — pricier than 98% of all US cities in our data.

The Monmouth Rental Market

The Monmouth, NJ area has a population of about 19,756,722 and 49% of households renting rather than owning. That renter share runs above the US average of ~34%, pointing to a competitive rental market where vacancies clear quickly and rents are less negotiable.

Rent Trends

2-bedroom rents in Monmouth, NJ have fallen by $45/month (1.9%) over the past year, from $2,328 to $2,283. Rents have remained relatively stable year over year, indicating a balanced rental market in the area.

Affordability

To afford a 1-bedroom apartment in Monmouth, NJ without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $73,880. The local median household income of $97,334 exceeds that threshold by $23,454, making Monmouth relatively accessible compared to local wages.

Is Monmouth, NJ Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Monmouth?

Break-even analysis and mortgage estimates based on local market data.

Living in Monmouth

Cost of living, job market, crime rates, and moving cost estimates.