At $3,195/mo, rent takes about 23% 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 $3,195 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 Cedar Knolls changed -0.8% over the year to September 2026. Across the 121 New Jersey cities Zillow tracks, the typical change was +3.1%.
Rent has risen 7 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($170,400) is $4,260 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($4,040); a 4-bedroom is $4,600.
Parsippany, 4 miles away, rents for 11% less ($2,832/mo), about $4,400 a year in savings.
From Zillow's monthly rent index (ZORI) for Cedar Knolls. 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
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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Cedar Knolls, NJ has changed in 5 years
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.
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At $3,195/mo, how Cedar Knolls rent compares to typical pay (30% rule).
Cedar Knolls rent by bedroom count
Median rent for each apartment size in Cedar Knolls. Click any size for full breakdown.
Tips for renters in Cedar Knolls
Last updated: October 17, 2026
The median rent in Cedar Knolls is $3,195/mo as of October 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 23% of local median household income ($170,400/yr), Cedar Knolls ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.8% over the past year.
Frequently asked questions
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At $3,195/mo, rent takes ~23% of Cedar Knolls's median household income ($170,400/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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