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City Report · NJ

Morganville

Pop. 5,902·19th most expensive in New Jersey·One of the pricier rental markets in the US
Median rent (all units)
$3,383/mo
Year-over-Year
Stable
Month-over-Month
+1.4%
vs US Median
+$1,421
Rising (Monthly)
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Most AffordableMost Expensive
Morganville · $3,383
More expensive than 95% of US cities · National median $1,962/mo
Affordability
25% of income
AFFORDABLE
0%30% benchmark60%+

At $3,383/mo, rent takes about 25% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$135,000/yr
Local median income
$161,500/yr
Based on the 30%-of-income rule using Morganville's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$2,170
1 BR
$2,430
2 BR
$3,000
3 BR
$4,000
4 BR+
$4,450
Fair Market Rent (HUD)
$3,000/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $3,383 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
$40,596/yr
At $3,383/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.0% YoY, +1.4% MoM), not inventory.
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Demographics

Who lives here

Morganville, NJ is majority owner-occupied, has a median income above the national average, 59.8% of residents hold a bachelor's degree or higher.

Population
5,902
Median income
$161,500
Median age
46.3
Renters
11.9%
Age distribution
19%
18.6%
28.2%
15.2%
19%
Under 1819%
18–3418.6%
35–5428.2%
55–6415.2%
65+19%
Gender
49.3%
50.7%
Male49.3%
Female50.7%
Race & ethnicity
58.1%
22.6%
White58.1%
Black1.1%
Hispanic10.9%
Asian22.6%
Other7.3%
Education (25+)
24.6%
59.8%
No HS diploma4.8%
HS diploma10.8%
Some college24.6%
Bachelor's+59.8%
Housing tenure
88.1%
Owner88.1%
Renter11.9%

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

2021 vs 2026

How Morganville, NJ has changed in 5 years

Income
$118,845 → $161,500
up 35.9%
Population
5,061 → 5,902
up 16.6%
Renter share
8% → 11.9%
+3.9 pts
Bachelor's+
58.8% → 59.8%
+1.0 pts

Census figures show median household income at $161,500 today, compared with $118,845 five years earlier. The population has grown by 16.6% since 2021, moving from about 5,061 residents to roughly 5,902. Renters now make up 11.9% of households, compared with 8% five years ago.

Community

Discussions about Morganville

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

Can you afford rent in Morganville on your salary?

At $3,383/mo, how Morganville rent compares to typical pay (30% rule).

By apartment size

Morganville rent by bedroom count

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

Local insights

Tips for renters in Morganville

About renting in Morganville, NJ

Last updated: August 17, 2026

The median rent in Morganville is $3,383/mo as of August 2026. A studio apartment averages $2,170/mo while a 2-bedroom runs $3,000/mo. One-bedroom apartments average $2,430/mo and 3-bedroom units go for $4,000/mo.

At 25% of local median household income ($161,500/yr), Morganville ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Morganville an affordable city for renters?

Morganville is considered affordable for renters. At $3,383/mo, rent takes approximately 25% of the local median household income ($161,500/yr). The standard benchmark is 30%. Morganville falls comfortably within that range.

How much income do you need to rent in Morganville?

To keep rent at or below 30% of gross income, you would need to earn at least $135,000/year (~$65/hour full-time) to afford the median rent of $3,383/mo in Morganville. The local median household income is $161,500/yr, meaning the typical Morganville household meets that threshold.

Is rent going up or down in Morganville?

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

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

Morganville is one of the pricier cities in New Jersey for rent, ranking #19 out of 183 tracked cities at $3,383/mo.

Which nearby cities are cheaper to rent in than Morganville?

Several nearby cities have lower median rents than Morganville ($3,383/mo): Manalapan Township ($2,465/mo), Matawan ($2,606/mo), South Amboy ($2,770/mo).

What percentage of Morganville residents rent vs. own?

According to Census data, approximately 11.9% of Morganville households are renters, while 88.1% are owner-occupied. Morganville leans toward homeownership, which can mean a smaller rental inventory.

How does Morganville rent compare to the national average?

Morganville's median rent of $3,383/mo is $1,421 (72%) above the US national median of $1,962/mo. Within New Jersey, it ranks #19 out of 183 tracked cities.
Income Affordability
25%
AFFORDABLE

At $3,383/mo, rent takes ~25% of Morganville's median household income ($161,500/yr). The standard benchmark is 30%.

Morganville 25%Benchmark 30%
State income tax1.4–10.75%
Run the Morganville affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Morganville, NJ

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