Cheap Apartments for Rent in Prospect Park, NJ from $700 (61 Rentals)

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Search the lowest-cost Apartments available for rent right now in Prospect Park.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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18 Church St, Unit 3
$1,550
Total Monthly Price

Total Monthly Price

Base Rent
$1,550
Total Monthly Price
$1,550
Studio Apartment Available Now

18 Church St, Unit 3

18 Church StPaterson, NJ 07505
Affordability
property at 185 Governor St

$1,636

Total Monthly Price

Total Monthly Price

Base Rent
$1,636
Total Monthly Price
$1,636

Studio, 1 Bath Condo for Rent

Available Now

185 Governor St, Unit Studio

185 Governor St
PatersonNJ07501
property at 38 Mill St

$1,650 - $1,850

1 To 2 Bedroom Rentals

Available Now

38 Mill St

PatersonNJ07501

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 34 Auburn St

$1,718

Total Monthly Price

Total Monthly Price

Base Rent
$1,718
Total Monthly Price
$1,718

1 Bedroom, 1 Bath Condo for Rent

Available Now

34 Auburn St, Unit 1 bedroom

34 Auburn St
PatersonNJ07501

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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property at 354 Hamilton Ave

$1,800

Total Monthly Price

Total Monthly Price

Base Rent
$1,800
Total Monthly Price
$1,800

1 Bedroom, 1 Bath Condo for Rent

Available Now

354 Hamilton Ave, Unit 1 bedroom

354 Hamilton Ave
PatersonNJ07501
property at 441 Summer St

$1,800 - $2,200

2 To 3 Bedroom Rentals

Available Now

441 Summer St

PatersonNJ07501
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Building 534
Studio to 1 Bedroom Apartments

Building 534

534 BroadwayPaterson, NJ 07514
  • Utilities Included
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486-490 Park Ave
Studio to 3 Bedroom Apartments

486-490 Park Ave

486-490 Park AvePaterson, NJ 07504
  • Utilities Included
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Redwood Village
1 to 2 Bedroom Apartments

Redwood Village

311 Redwood AvePaterson, NJ 07522
  • Utilities Included
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191 Market St
Studio to 2 Bedroom Apartments

191 Market St

191 Market StPaterson, NJ 07505
  • Utilities Included
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282 Broadway Ave
1 Bedroom Apartments

282 Broadway Ave

282 Broadway AvePaterson, NJ 07501

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Colt Arms Apartments
Studio to 1 Bedroom Apartments

Colt Arms Apartments

18-56 Godwin StPaterson, NJ 07501
Senior Living
  • Utilities Included
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Riverview Towers
1 to 2 Bedroom Apartments

Riverview Towers

125-145 Presidential BlvdPaterson, NJ 07522
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44 Beech St
Studio to 3 Bedroom Apartments

44 Beech St

44 Beech StPaterson, NJ 07501
  • Utilities Included
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216 Straight St
1 to 4 Bedroom Apartments

216 Straight St

216 Straight StPaterson, NJ 07501
  • Utilities Included
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Hospital Plaza
1 to 2 Bedroom Apartments

Hospital Plaza

200 Hospital PlzPaterson, NJ 07503
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457 E 22nd St
2 Bedroom Apartments

457 E 22nd St

457 E 22nd StPaterson, NJ 07514
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159 12th Ave
Studio to 1 Bedroom Apartments

159 12th Ave

159 12th AvePaterson, NJ 07501
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77-91 Park Ave
1 to 2 Bedroom Apartments

77-91 Park Ave

77-91 Park AvePaterson, NJ 07524
  • Utilities Included

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Showing Results 1-50, Page 1 of 2

Prospect Park, NJ Local Guide

Cheapest Available Prospect Park Apartments for Rent

 

The cheapest available apartment rental in Prospect Park, NJ is a Studio unit found at 324,339 and 431 Broadway in the Stoney Road neighborhood priced from $1,275. Hospital Plaza in the Stoney Road neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,550. Here is today’s list of the most affordable Prospect Park apartments for rent:

Apartment ListingModel NameBed/BathPriced From
324,339 and 431 Broadway431 BroadwayStudio,1BA$1,275
Hospital PlazaA11BR,1BA$1,550
Mill Street SquareOne Bedroom/1 bath (Grandparents Raising Grandchil1BR,1BA$1,626
118 East 24th St Apartments1 Bd/ 1 Ba1BR,1BA$1,700
Valley View ApartmentsType A1BR,1BA$1,713
124 Putnam St3BR/1.0BA3BR,1BA$2,200

Best Value Apartments for Rent in Prospect Park, NJ

As of August 19, 2026 the best value apartment in the Prospect Park area is the $1.32 price per square foot 767 E 26th St Model at 767 E 26th St, Unit 5 bed 2full bath in the in the Eastside neighborhood starting from $3,300. The second greatest value Prospect Park apartment is the Two Bedroom Model at Sunset Ridge at Totowa starting at $2,850 with a $1.73 price per square foot in the Totowa neighborhood. Here is today’s list of the best values for Prospect Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
767 E 26th St, Unit 5 bed 2full bath767 E 26th St5BR,2BA$1.32
Sunset Ridge at TotowaTwo Bedroom2BR,2BA$1.73
441 E 27th St, Unit 2nd Fl441 E 27th St3BR,1BA$1.73
77 Madison Ave, Unit 1st FL77 Madison Ave3BR,1BA$1.77
24 Don Bosco Ave, Unit Unit #224 Don Bosco Ave2BR,1BA$1.89
417 Straight St, Unit Large Bright 3BR Apartmen417 Straight St3BR,1BA$1.77
494 E 18th St, Unit 2nd Floor494 E 18th St3BR,2BA$2.27
118 East 24th St Apartments1 Bd/ 1 Ba1BR,1BA$1.84
Valley View ApartmentsType A1BR,1BA$2.19
58 Arlington Ave, Unit Basement Apartment in Hillcrest Paterson58 Arlington Ave2BR,1BA$2.29

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Prospect Park, NJ Rentals by Map

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Frequently Asked Questions about Cheap Prospect Park Apartments

What is the Cheapest Studio apartment in Prospect Park?

Currently the most affordable Cheap Studio Apartment in Prospect Park is at 324,339 and 431 Broadway listed at $1,275.

How much is rent for a Cheap One Bedroom Prospect Park Apartment?

The lowest price for a Cheap One Bedroom Prospect Park Apartment is $1,400 at 324,339 and 431 Broadway.

What is the lowest price for a Cheap Two Bedroom Prospect Park Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Prospect Park is starting from $1,800 at 324,339 and 431 Broadway.

What is the most affordable Prospect Park Three Bedroom Apartment?

The best deal on a cheap Prospect Park Three Bedroom Apartment rental is at 124 Putnam St and starts from $2,200.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.