Zumper
modified
5+ Days Ago

Highlights

  • Modern living
  • Contemporary finishes
  • Thoughtfully designed
  • Convenient on-site washer/dryer room

Location

502 Market St, Newark, NJ 07105, USA|North Ironbound
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Contact

Management

PMG Management

Leasing office

(347) 477-5981

Property Overview

502 Market Steet delivers modern living with contemporary finishes and a thoughtfully designed layout, complemented by a convenient on-site washer/dryer room. With strong expert scores across price, amenities, location, and trustworthiness, it offers excellent value and a high standard of living. Its walkable setting, nearby public transit, proximity to numerous parks, and access to a top-rated high school further enhance its appeal, especially for those prioritizing environmental sustainability and convenience.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.0
Very Good
With a solid 8 out of 10 overall, 502 Market Steet is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 502 Market Steet has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • High school nearby

Great for

  • Eco living

Floor plans

2BR/1.0BA2 bed1 bath776 sqft$3,050 /mo1 unit availableEnjoy modern living in this stylish 2-bedroom apartment at 502 Market Street, located in the heart of Ironbound. This thoughtfully designed unit features contemporary finishes and a convenient on-site washer/dryer room. Just a 10-minute walk to Newark Penn Station—perfect for easy commuting.

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Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property
Building details

Property details

Units29
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About 502 Market Steet

HomeApartments in NewarkNorth Ironbound 502 Market Steet

Enjoy modern living in this stylish 2-bedroom apartment at 502 Market Street, located in the heart of Ironbound. This thoughtfully designed unit features contemporary finishes and a convenient on-site washer/dryer room. Just a 10-minute walk to Newark Penn Station—perfect for easy commuting.


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.0
/10
Very Good
With a solid 8 out of 10 overall, 502 Market Steet is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 502 Market Steet has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated 502 Market Steet
Price·9A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
502 Market Steet stands out with a remarkable rating of 9/10 for its cost per bedroom compared to other rentals in the area. Considering the excellent balance between price, convenience, and comfort that it provides, residents enjoy a high-quality living experience.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, 502 Market Steet is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
502 Market Steet is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While 502 Market Steet does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
502 Market Steet provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.

502 Market Steet is great for:

Eco living

  • You can get around by foot in this area
  • Public transit available nearby
  • 55 parks within a mile

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How 502 Market Steet compares to other nearby properties.

Positives

High school nearby
There is a high school 1 mile away

Considerations

Greater distance from grade schools
The nearest elementary school is farther than 0.3 mile away

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Rent trends in North Ironbound

2-bedroom apartments at 502 Market Steet cost about 37% more than the average rent price for 2-bedroom apartments in North Ironbound.

Median rents as of May 16 2026.
North Ironbound
Newark
A table of studio rental data trends in Newark
MonthMedian Rent
June 2024$1,465
July 2024$1,318
August 2024$1,452
September 2024$1,412
October 2024$1,318
November 2024$1,512
December 2024$1,462
January 2025$1,523
February 2025$1,593
March 2025$1,640
April 2025$1,643
May 2025$1,475
June 2025$1,450
July 2025$1,350
August 2025$1,300
September 2025$1,280
October 2025$1,250
November 2025$1,434
December 2025$1,581
January 2026$1,788
February 2026$1,827
March 2026$1,715
April 2026$1,659
May 2026$1,637
A table of studio rental data trends in North Ironbound
MonthMedian Rent
June 2024$2,150
April 2025$1,850
May 2025$1,850
July 2025$1,255
August 2025$1,282
September 2025$1,280
October 2025$1,250
February 2026$2,029
March 2026$2,034
April 2026$1,951

Affordability calculator

Can I afford to live at 502 Market St?

Bedrooms

2 bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$122,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $122,000 annually to afford this 2-bedrooms monthly rent price of $3,050.
For more information on rent affordability, visit our rent calculator.

Schools near 502 Market Steet

Wilson Avenue School

19 wilson ave

newark, NJ, 7108

K-8Public
C

Lafayette Street Elementary School

205 lafayette st

newark, NJ, 7105

PK, K-8Public
C

Early Childhood Center of the Ironbound

697 market st

newark, NJ, 7105

PKPublic

Ann Street School

30 ann st

newark, NJ, 7105

PK, K-8Public
B-

East Ward Elementary School

104 oliver st

newark, NJ, 7105

PK, K-5Public
C-
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Getting around Newark near 502 Market St

Walking

10/10
No car? No problem. Everything you need is within a few blocks.

Driving

5/10
This area is accessible to thoroughfares and has ample parking options.

Cycling

6/10
More spots are within biking distance and some roads are cyclist-friendly.

Transit

10/10
Getting around is a breeze; rapid transit and bus lines are a few blocks away.

Points of interest for 502 Market St, Newark

Groceries

10/10
At least one supermarket within a 5-minute walk

Shopping

8/10
Several shops within a few minutes’ walk

Cafes

6/10
Some cafés within a few minutes’ walk

Restaurants

8/10
Variety of restaurants within a few minutes' walk

Primary schools

8/10
At least one elementary school within a 10-minute walk

High schools

8/10
At least one high school within a 15-minute walk

Parks

7/10
Large amount of park space nearby

Nightlife

6/10
Some bars within a few minutes’ walk

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