Apartments for Rent in Fairmount, Newark, NJ

Fairmount, Newark apartment availability

Fairmount's rental market offers a good selection of listings, with an average of 36 rentals available each month. The neighborhood's inventory is diverse, featuring a mix of 1-bedroom, 2-bedroom, and 3-bedroom apartments, with the latter being the most prevalent. Many of these apartments offer desirable amenities, including hardwood floors, found in 39% of listings, and outdoor spaces, available in 52% of rentals. Additionally, 29% of apartments feature in-unit laundry, adding to the neighborhood's appeal. With its varied housing stock and range of amenities, Fairmount is a viable option for renters seeking a convenient and comfortable living experience in Newark.

Fairmount, Newark rental market trends

The Fairmount neighborhood in Newark saw a significant increase in rent prices last year, with an average monthly rent of $2,219, reflecting a 9.7% year-over-year increase. Breaking it down by bed count, 1-bedrooms averaged $1,567 per month, a 9.4% increase from the previous year, while 2-bedrooms averaged $1,917, a 9.2% increase. The average rent for a 3-bedroom was $2,289, a 9.3% increase. However, studios saw a significant decrease in rent, averaging $1,100 per month, a 28.4% drop from the previous year.

Rent prices in Fairmount tend to peak in the summer, with July being the most expensive month, 13.6% higher than April, the month with the lowest rent. If you're looking for a new apartment, be prepared for more competition during the summer months. On the other hand, if you're flexible with your move-in date, April may be a good time to find a more affordable option. Keep in mind that the rental market can fluctuate, and prices may vary depending on the specific location, amenities, and time of year.

Why Fairmount, Newark is a great place to live

Fairmount, Newark stands out as a hub for environmentally conscious living and vibrant social life.

The neighborhood's emphasis on sustainability is reflected in its eco-friendly features, including the use of non-toxic paint, rainwater harvesting, recycling programs, community solar projects, and sustainable building materials. Low-flow fixtures and proximity to parks and recreation areas further contribute to a greener lifestyle.

With a strong transit score, frequent transit options, well-developed street infrastructure, and high walk score, Fairmount is also ideal for those who value an active social life. The area's focus on safety ensures residents can confidently explore local amenities on foot or by public transportation. If you prioritize the environment and a dynamic social scene, Fairmount is an excellent choice.