Cheap Apartments for Rent in 07940

35 rentals

Apartments For Rent Near 07940

We found 30 more apartments matching your filters just outside 07940

Average Rent Trends in 07940

Rent in 07940 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent decreased in May 2026 compared to the previous month. Rent previously peaked in Jul 2025.
MonthAverage rent
Jun 2025$2,800
Jul 2025$4,200
Aug 2025$3,850
Sep 2025$3,275
Oct 2025$4,000
Nov 2025$3,471
Dec 2025$3,750
Jan 2026$3,750
Feb 2026$3,200
Mar 2026$2,850
Apr 2026$3,434
May 2026$3,195
View as a graph

Average Rent By Bedroom and Home Type

In May 2026, Apartments and Condos were the most affordable home type to rent compared with Houses and Townhomes.
1 bed2 beds3 beds4 bedsAll
All home types$2,300$3,050$4,650$5,995$3,300
Townhomes$3,300$4,495$4,999—$4,650
Apartments and Condos$2,050$2,650$4,200$5,995$2,650
Houses——$3,000$5,000$3,000

Frequently Asked Questions about Rentals in 07940

  • What is the average rent of an apartment in 07940?
    The average rent of an apartment in 07940 is $2,705 per month. This is about 40% higher than the national average.
  • What is the average rent of a house in 07940?
    The average rent of a house in 07940 is $3,000 per month. This is about 55% higher than the national average.
  • What is the average rent of a townhome in 07940?
    The average rent of a townhome in 07940 is $4,650 per month. This is about 141% higher than the national average.
  • When is the average rent cheapest in 07940?
    In the last year, the average rent in 07940 was lowest in Mar 2025 when it was $2,650 per month.
  • When is the average rent most expensive in 07940?
    In the last year, the average rent in 07940 was highest in Jul 2025 when it was $4,200 per month.
  • How does the rent of a 1 bedroom apartment compare to a studio apartment in 07940?
    The average rent of a 1 bedroom apartment in 07940 is $2,300 per month. That is about $65 more than the cost of a studio apartment.
  • How many available rental listings are in 07940?
    There are 33 available rental listings in 07940.
  • What are some cities near 07940?
    Some nearby cities include: Madison, Florham Park, Chatham, Green Village, New Vernon, Summit. These cities may have more rental options to explore.
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