Rent in Summit, NJ
Across Summit's 2 ZIP codes, a 2-bedroom typically rents for about $2,306 a month, with figures from $2,233–$2,379. The highest typical rent is in 07901 ($2,379) and the lowest in 07902 ($2,233). 1 ZIP has ZIP-level figures from HUD or Census; the other 1 uses the county Fair Market Rent. Owner-occupied homes in Union County pay about 1.89% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.24% in the week of Oct 29, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $1,637 | $1,637 | 2 |
| 1 bed | $1,741 | $1,631–$1,850 | 2 |
| 2 beds | $2,306 | $2,233–$2,379 | 2 |
| 3 beds | $2,880 | $2,785–$2,975 | 2 |
| 4 beds | $3,344 | $3,188–$3,500+ | 2 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Summit ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Summit, NJ?
- About $2,306 a month: the median of the typical rents in 2 ZIP codes, which range from $2,233–$2,379. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Summit, NJ?
- About $1,741 a month: the median of the typical rents in 2 ZIP codes, which range from $1,631–$1,850. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Summit, NJ?
- About $2,880 a month: the median of the typical rents in 2 ZIP codes, which range from $2,785–$2,975. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Summit, NJ?
- About $1,637 a month: the median of the typical rents in 2 ZIP codes, which range from $1,637. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Summit, NJ?
- About $3,344 a month: the median of the typical rents in 2 ZIP codes, which range from $3,188–$3,500+. Figures are gross rent (rent plus tenant-paid utilities).
- Which Summit ZIP code has the highest rent?
- For a 2-bedroom, 07901 has the highest typical rent at $2,379 a month, and 07902 the lowest at $2,233.
- What is the property tax rate in Summit, NJ?
- Owner-occupied homes in Union County pay a typical 1.89% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.24% in the week of Oct 29, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Summit rent figures come from?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).