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City Report · NJ

Carteret

Pop. 25,496·116th most expensive in New Jersey·Rental market data updated monthly for Carteret, NJ
Median rent (all units)
$2,457/mo
Year-over-Year
+4.3%
Month-over-Month
-1.1%
vs US Median
+$495
Falling (Monthly)
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Most AffordableMost Expensive
Carteret · $2,457
More expensive than 78% of US cities · National median $1,962/mo
Rent Reality Score
50/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Carteret's 10-year trend predicts.

Actual rent
$2,457/mo
Expected by trend
$2,455/mo
The Rent Reality Score compares today's median rent to where Carteret's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,630
1 BR
$1,830
2 BR
$2,300
3 BR
$2,770
4 BR+
$3,050
Fair Market Rent (HUD)
$2,300/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,457 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 →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$29,484/yr
At $2,457/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (4.3% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+4.3% YoY, -1.1% MoM), not inventory.
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Demographics

Who lives here

Carteret, NJ is roughly split between renters and owners, has a median income above the national average, 30.1% of residents hold a bachelor's degree or higher.

Population
25,496
Median income
$96,862
Median age
38.2
Renters
45.3%
Age distribution
23.6%
23.7%
24.6%
13.7%
14.4%
Under 1823.6%
18–3423.7%
35–5424.6%
55–6413.7%
65+14.4%
Gender
48.4%
51.6%
Male48.4%
Female51.6%
Race & ethnicity
21%
19.5%
34.2%
26.1%
White21%
Black19.5%
Hispanic34.2%
Asian26.1%
Education (25+)
14.6%
33.5%
21.9%
30.1%
No HS diploma14.6%
HS diploma33.5%
Some college21.9%
Bachelor's+30.1%
Housing tenure
54.7%
45.3%
Owner54.7%
Renter45.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Carteret, NJ has changed in 5 years

Income
$74,583 → $96,862
up 29.9%
Population
25,077 → 25,496
up 1.7%
Renter share
43.2% → 45.3%
+2.1 pts
Bachelor's+
26.1% → 30.1%
+4.0 pts
Median age
37.5 → 38.2
+0.7 yrs

Local incomes tracked alongside that move, going from a median of $74,583 in 2021 to $96,862 more recently. Headcount in the area went from 25,077 to 25,496 between 2021 and 2024, a 1.7% change. About 45.3% of households rent today, against 43.2% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 26.1% to 30.1%.

Community

Discussions about Carteret

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View Carteret rent history (2015–2026) →
Salary vs rent

Can you afford rent in Carteret on your salary?

At $2,457/mo, how Carteret rent compares to typical pay (30% rule).

By apartment size

Carteret rent by bedroom count

Median rent for each apartment size in Carteret. Click any size for full breakdown.

Local insights

Tips for renters in Carteret

About renting in Carteret, NJ

Last updated: August 17, 2026

The median rent in Carteret is $2,457/mo as of August 2026. A studio apartment averages $1,630/mo while a 2-bedroom runs $2,300/mo. One-bedroom apartments average $1,830/mo and 3-bedroom units go for $2,770/mo.

At 30% of local median household income ($96,862/yr), Carteret ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.3% over the past year.

FAQ

Frequently asked questions

Is Carteret an affordable city for renters?

Carteret is considered moderate for renters. At $2,457/mo, rent takes approximately 30% of the local median household income ($96,862/yr). The standard benchmark is 30%. Carteret slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Carteret?

To keep rent at or below 30% of gross income, you would need to earn at least $98,000/year (~$47/hour full-time) to afford the median rent of $2,457/mo in Carteret. The local median household income is $96,862/yr, meaning the typical Carteret household falls short of that threshold.

Is rent going up or down in Carteret?

Rent in Carteret has increased 4.3% over the past year as of August 2026, putting upward pressure on renter budgets.

How does Carteret rent compare to other cities in New Jersey?

Carteret is middle-of-the-pack for New Jersey for rent, ranking #116 out of 183 tracked cities at $2,457/mo.

What percentage of Carteret residents rent vs. own?

According to Census data, approximately 45.3% of Carteret households are renters, while 54.7% are owner-occupied. Carteret leans toward homeownership, which can mean a smaller rental inventory.

How does Carteret rent compare to the national average?

Carteret's median rent of $2,457/mo is $495 (25%) above the US national median of $1,962/mo. Within New Jersey, it ranks #116 out of 183 tracked cities.
Income Affordability
30%
MODERATE

At $2,457/mo, rent takes ~30% of Carteret's median household income ($96,862/yr). The standard benchmark is 30%.

Carteret 30%Benchmark 30%
State income tax1.4–10.75%
Run the Carteret affordability calculator →
Lowest-rent ZIP codes in Carteret
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Carteret, NJ

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