Rents are 4% below what Carteret's 10-year trend predicts — a better deal than its own history suggests.
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 $2,430 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
Rent in Carteret is 0% below its high of $2,431 in August 2026, at $2,430 as of September 2026.
Rent in Carteret changed +1.0% over the year to September 2026. Across the 121 New Jersey cities Zillow tracks, the typical change was +3.1%.
Rent rose in 6 of the last 12 months.
30% of the median household income ($96,862) is $2,422 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,300); a 3-bedroom is $2,770.
Irvington, 10 miles away, rents for 20% less ($1,939/mo), about $5,900 a year in savings.
From Zillow's monthly rent index (ZORI) for Carteret. 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
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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Carteret, NJ has changed in 5 years
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%.
Discussions about Carteret
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Can you afford rent in Carteret on your salary?
At $2,430/mo, how Carteret rent compares to typical pay (30% rule).
Carteret rent by bedroom count
Median rent for each apartment size in Carteret. Click any size for full breakdown.
Tips for renters in Carteret
Last updated: October 17, 2026
The median rent in Carteret is $2,430/mo as of October 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 1.0% over the past year.
Frequently asked questions
How much income do you need to rent in Carteret?
Is rent going up or down in Carteret?
How does Carteret rent compare to other cities in New Jersey?
Which nearby cities are cheaper to rent in than Carteret?
At $2,430/mo, rent takes ~30% of Carteret's median household income ($96,862/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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