Cost of Living: Elizabeth, NJ vs Independence, MO (2026)

Elizabeth

New Jersey
112
VS

Independence

Missouri
67

Elizabeth is 67% more expensive than Independence.

$1,463/mo ↑ 38%
Median Rent
$1,061/mo ↓ 27%
$63,874/yr ↑ 7%
Median Income
$59,480/yr ↓ 7%
$393,500 ↑ 136%
Home Value
$166,400 ↓ 58%
$1,543/mo ↑ 48%
Owner Costs
$1,046/mo ↓ 32%
135,887
Population
121,944

Tax Comparison

10.75%
Income Tax
4.95%
6.625%
State Sales Tax
4.225%
2.23%
Property Tax
0.93%

Affordability

27.5%
rent-to-income
Affordability
21.4%
rent-to-income

Detailed Comparison

When comparing Elizabeth, NJ and Independence, MO, the overall cost of living indices are 112 and 67 respectively (national median = 100). Rent is $402/month cheaper in Independence, saving renters about $4,824/year.

Median household income is $4,394/year higher in Elizabeth. Home values also differ significantly — the median in Elizabeth is $393,500 compared to $166,400 in Independence.

Missouri has a lower income tax rate, making Independence slightly more tax-friendly.

Frequently Asked Questions

Elizabeth vs Independence — common questions

Is Elizabeth or Independence cheaper to live in?
Based on our cost index, Independence is cheaper to live in with an index of 67 compared to 112 (US average = 100).
What is the rent difference between Elizabeth and Independence?
Median rent in Elizabeth is $1,463/month and in Independence it's $1,061/month — a difference of $402/month.
Which city has higher income, Elizabeth or Independence?
Median household income is $63,874 in Elizabeth and $59,480 in Independence. Median household income is $4,394/year higher in Elizabeth.
How do taxes compare between New Jersey and Missouri?
New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax. Missouri has 4.95% income tax, 4.225% sales tax, and 0.93% property tax.
Should I move to Elizabeth or Independence?
It depends on your priorities. Elizabeth has a cost index of 112 with median rent of $1,463/mo, while Independence has a cost index of 67 with rent of $1,061/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Elizabeth details → View Independence details →

More Comparisons

Other cost of living comparisons for Elizabeth and Independence

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