From NorthJersey.com:
Is North Jersey’s rental market finally cooling down? How hot the market is so far in 2025
There’s no doubt about it: Finding an apartment, especially an affordable one, in North Jersey is a difficult feat. But believe it or not, it’s a feat that has eased up — if only slightly — during 2025.
In RentCafe’s recent Hottest Rental Markets report, it ranked the top 20 U.S. rental markets based on how competitive they were during the first quarter of 2025.
North Jersey, which has consistently been named among the nation’s top markets, didn’t rank in the report’s top five. In fact, for the first time in at least two years, it didn’t even make the report’s top 10.
Instead, North Jersey — with Bergen, Passaic, Morris, Essex, Sussex, Hudson and Union counties included in the report — was named as the nation’s 11th-most-competitive rental market during this time. That is compared with this time last year, when our region ranked third overall.
“Interestingly, North Jersey’s rental market has softened, as shown by a sharp year-over-year drop in its RCI score,” the report says.