Northern New Jersey is the 17th largest multifamily market with 237,761 completed units and 143,140 units in development, 25,420 of which have already broken ground, as of December 2021.
Northern New Jersey Multifamily Market Summary – December 2021
New lease asking rents are at $2,143, up 8.9%▲
from the previous year placing Northern New
Jersey at 84th overall in year-over-year rent