Cheap Apartments for Rent in 07940
36 rentals
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Use arrow keys to navigateNEW - 2 DAYS AGOPET FRIENDLY$2,135 - $3,215/mo
1-2 Beds
1 BathGeneral Wayne and Ridgedale Gardens | 10 Ridgedale Ave,
Madison, NJ 07940
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SPECIAL OFFERPET FRIENDLY$3,295 - $3,650/mo1-2 Beds1-2 BathsMadison Mall on Main Luxury Apartments | 286 Main St,
Madison, NJ 07940
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Apartments For Rent Near 07940
We found 30 more apartments matching your filters just outside 07940
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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 increased in Aug 2026 compared to the previous month. Rent previously peaked in Jul 2025.
| Month | Average rent |
|---|---|
| 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 |
| Jun 2026 | $3,195 |
| Jul 2026 | $3,045 |
| Aug 2026 | $3,400 |
Average Rent By Bedroom and Home Type
In August 2026, Apartments and Condos were the most affordable home type to rent compared with Houses and Townhomes.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $2,425 | $3,400 | $4,650 | $5,000 | $3,400 |
| Townhomes | — | $4,400 | $4,650 | $4,500 | $4,400 |
| Apartments and Condos | $2,150 | $2,900 | $3,794 | $5,000 | $2,800 |
| Houses | $3,100 | $2,350 | $4,000 | — | $3,100 |
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 $3,050 per month. This is about 55% 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 $2,425 per month. That is about $425 more than the cost of a studio apartment.
- How many available rental listings are in 07940?There are 29 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.
View this page in Spanish: Apartamentos baratos en renta en los alrededores de 07940 - 95 Rentas | Trulia
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