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City Report · NJ

Cedar Knolls

Pop. 4,882·19th most expensive in New Jersey·One of the pricier rental markets in the US
Median rent (all units)
$3,449/mo
Year-over-Year
Stable
Month-over-Month
+3.3%
vs US Median
+$1,484
Rising (Monthly)
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Most AffordableMost Expensive
Cedar Knolls · $3,449
More expensive than 95% of US cities · National median $1,965/mo
Affordability
24% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $3,449/mo, rent takes about 24% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$138,000/yr
Local median income
$170,400/yr
Based on the 30%-of-income rule using Cedar Knolls's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$2,330
1 BR
$2,650
2 BR
$3,210
3 BR
$4,040
4 BR+
$4,600
Research median
$3,210/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$41,388/yr
At $3,449/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +3.3% MoM), not inventory.
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Demographics

Who lives here

Cedar Knolls, NJ is majority owner-occupied, has a large retiree population, has a median income above the national average, 54.9% of residents hold a bachelor's degree or higher.

Population
4,882
Median income
$170,400
Median age
42
Renters
41.1%
Age distribution
19.5%
18.9%
29.1%
22.3%
Under 1819.5%
18–3418.9%
35–5429.1%
55–6410.2%
65+22.3%
Gender
50%
50%
Male50%
Female50%
Race & ethnicity
70.7%
13.7%
19%
White70.7%
Hispanic13.7%
Asian19%
Education (25+)
24.4%
54.9%
No HS diploma8.9%
HS diploma24.4%
Some college11.8%
Bachelor's+54.9%
Housing tenure
58.9%
41.1%
Owner58.9%
Renter41.1%

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

2021 vs 2026

How Cedar Knolls, NJ has changed in 5 years

Income
$134,054 → $170,400
up 27.1%
Population
4,286 → 4,882
up 13.9%
Renter share
40.8% → 41.1%
+0.3 pts
Bachelor's+
60.7% → 54.9%
-5.8 pts
Median age
42.6 → 42
-0.6 yrs

Census figures show median household income at $170,400 today, compared with $134,054 five years earlier. The population has grown by 13.9% since 2021, moving from about 4,286 residents to roughly 4,882. College-educated residents now make up 54.9% of adults here, versus 60.7% in 2021.

Community

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View Cedar Knolls rent history (2015–2026) →
Salary vs rent

Can you afford rent in Cedar Knolls on your salary?

At $3,449/mo, how Cedar Knolls rent compares to typical pay (30% rule).

By apartment size

Cedar Knolls rent by bedroom count

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

Local insights

Tips for renters in Cedar Knolls

About renting in Cedar Knolls, NJ

Last updated: July 20, 2026

The median rent in Cedar Knolls is $3,449/mo as of July 2026. A studio apartment averages $2,330/mo while a 2-bedroom runs $3,210/mo. One-bedroom apartments average $2,650/mo and 3-bedroom units go for $4,040/mo.

At 24% of local median household income ($170,400/yr), Cedar Knolls ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Cedar Knolls an affordable city for renters?

Cedar Knolls is considered very affordable for renters. At $3,449/mo, rent takes approximately 24% of the local median household income ($170,400/yr). The standard benchmark is 30%. Cedar Knolls falls comfortably within that range.

How much income do you need to rent in Cedar Knolls?

To keep rent at or below 30% of gross income, you would need to earn at least $138,000/year (~$66/hour full-time) to afford the median rent of $3,449/mo in Cedar Knolls. The local median household income is $170,400/yr, meaning the typical Cedar Knolls household meets that threshold.

Is rent going up or down in Cedar Knolls?

Rent in Cedar Knolls has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Cedar Knolls rent compare to other cities in New Jersey?

Cedar Knolls is one of the pricier cities in New Jersey for rent, ranking #19 out of 180 tracked cities at $3,449/mo.

Which nearby cities are cheaper to rent in than Cedar Knolls?

Several nearby cities have lower median rents than Cedar Knolls ($3,449/mo): Morristown ($2,860/mo), Parsippany ($2,925/mo), Madison ($3,354/mo).

What percentage of Cedar Knolls residents rent vs. own?

According to Census data, approximately 41.1% of Cedar Knolls households are renters, while 58.9% are owner-occupied. Cedar Knolls leans toward homeownership, which can mean a smaller rental inventory.

How does Cedar Knolls rent compare to the national average?

Cedar Knolls's median rent of $3,449/mo is $1,484 (76%) above the US national median of $1,965/mo. Within New Jersey, it ranks #19 out of 180 tracked cities.
Income Affordability
24%
VERY AFFORDABLE

At $3,449/mo, rent takes ~24% of Cedar Knolls's median household income ($170,400/yr). The standard benchmark is 30%.

Cedar Knolls 24%Benchmark 30%
State income tax1.4–10.75%
Run the Cedar Knolls affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Cedar Knolls, NJ

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