East Orange, NJ Rides the Demand-Wave for Apartment Housing

Demand for apartments hit a high not seen in five years as a shortage of affordable homes has locked an increasing number of Americans out of the market. According to recent data from RealPage, the national occupancy rate rose to 95.8% from 95.4% last year. (Housing Wire, 7/2/2019)

East Orange Market Facts

The following East Orange market information is sourced from CoStar, the world’s leading source of information on the commercial real estate market.

  • Apartment occupancy rate in East Orange is 96.7%, which is just a fraction less than the 10-year high in East Orange and nearly 1% higher than the national average.
  • Rents are increasing at a rate of 2.3%/year.
  • Average rents, as of this writing, are:
Studios $995
1 bedroom $1,114
2 bedroom $1,441
3 bedroom $1,648
  • Rents have been on a virtually continuous rise since 2000.

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