At $2,523/mo, rent takes about 26% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,523 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
30% of the median household income ($114,302) is $2,858 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,340); a 3-bedroom is $2,950.
From Zillow's monthly rent index (ZORI) for Boonton. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Boonton, NJ is majority owner-occupied, has a median income above the national average, 50.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Boonton, NJ has changed in 5 years
Local incomes tracked alongside that move, going from a median of $85,948 in 2021 to $114,302 more recently. Census counts show Boonton, NJ adding about 84 residents over the five-year window, up 1.0% on net. The renter share has eased from 44.2% to 37.9%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 46.7% to 50.1% across the same window.
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Can you afford rent in Boonton on your salary?
At $2,523/mo, how Boonton rent compares to typical pay (30% rule).
Boonton rent by bedroom count
Median rent for each apartment size in Boonton. Click any size for full breakdown.
Tips for renters in Boonton
Last updated: October 17, 2026
The median rent in Boonton is $2,523/mo as of October 2026. A studio apartment averages $1,700/mo while a 2-bedroom runs $2,340/mo. One-bedroom apartments average $1,930/mo and 3-bedroom units go for $2,950/mo.
At 26% of local median household income ($114,302/yr), Boonton ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
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Is rent going up or down in Boonton?
How does Boonton rent compare to other cities in New Jersey?
At $2,523/mo, rent takes ~26% of Boonton's median household income ($114,302/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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