The appeal of suburban apartments remains high in the second quarter of 2021 for the Northern New Jersey multifamily market, with strong rental gains across the region, particularly in areas furthest from urban centers. Rents have increased in all submarkets here, with rents in the outlying Somerset County submarket seeing an 8.2% gain from one year ago.
Pandemic Upswing Continues in Northern New Jersey Apartment Market
Supply Pipeline Reaches Record Level of 9,300 Units Underway
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