A new study finds that it’s a bit easier to find a rental in New Jersey’s northern communities than in recent years, but the region still ranks among the top 20 nationwide for the most competitive rental markets.
A new survey from RentCafe provided at least a sliver of good news for those looking to rent a home. The region classified by the study as the northern area of the Garden State dropped from the sixth most competitive rental market last year to 19th in the nation, a notable drop over 2025.
To compile the report, RentCafe’s research team analyzed Yardi Systems apartment data across 139 rental markets in the country directly from market-rate, large-scale, multifamily properties of at least 50 units. Fully affordable multifamily properties were excluded from the study.
The markets were ranked based on a market-competitive score, with a percentage weight for each metric: 30% for apartment occupancy rate; 15% for average vacant days; 15% for prospective renters per vacant unit; 30% for renewal lease rate; and 10% for the share of new apartments.
So what made Northern New Jersey tumble 13 spots on RentCafe’s rankings? Supply in the region ticked up by 0.66% compared to last summer, while apartments for rent now stay on the market for an average of 40 days, or three days longer than in 2024.
Renters in Northern New Jersey who do find a place, however, are still staying put. About 71% of renters renewed their leases this year, pretty much unchanged from one year ago. Occupancy also remains tight at 95.3% with 11 renters per unit, down slightly from 13 last peak rental season.
Competition is a little softer for rental apartments in the study’s Central Jersey region, but the area had almost 80% of renters choosing to stay put, the highest in the country. Central Jersey’s occupancy rate was even higher than the northern area of the state at 95.6%.
Locally in the tri-state area, Manhattan is the fourth most competitive market for rental apartments according to the study, and Brooklyn is seventh. The Bridgeport – New Haven region of Connecticut is 18th in the country, just ahead of North Jersey. Queens came in at #32 nationwide.
The northeast region, in general, is the most competitive market for rentals, although the Midwest is not far behind. The study determined that the most competitive metro market in the country is Miami, followed closely by Chicago.
