Cost of Living: Elizabeth, NJ vs Palm Bay, FL (2026)

Elizabeth

New Jersey
112
VS

Palm Bay

Florida
91

Elizabeth is 23% more expensive than Palm Bay.

$1,463/mo ↓ 2%
Median Rent
$1,487/mo ↑ 2%
$63,874/yr ↓ 5%
Median Income
$67,521/yr ↑ 6%
$393,500 ↑ 59%
Home Value
$248,000 ↓ 37%
$1,543/mo ↑ 28%
Owner Costs
$1,203/mo ↓ 22%
135,887
Population
125,273

Tax Comparison

10.75%
Income Tax
0%
6.625%
State Sales Tax
6.0%
2.23%
Property Tax
0.86%

Affordability

27.5%
rent-to-income
Affordability
26.4%
rent-to-income

Detailed Comparison

When comparing Elizabeth, NJ and Palm Bay, FL, the overall cost of living indices are 112 and 91 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $3,647/year higher in Palm Bay. Home values also differ significantly — the median in Elizabeth is $393,500 compared to $248,000 in Palm Bay.

Florida has no state income tax, giving Palm Bay residents a significant tax advantage over New Jersey's 10.75% rate.

Frequently Asked Questions

Elizabeth vs Palm Bay — common questions

Is Elizabeth or Palm Bay cheaper to live in?
Based on our cost index, Palm Bay is cheaper to live in with an index of 91 compared to 112 (US average = 100).
What is the rent difference between Elizabeth and Palm Bay?
Median rent in Elizabeth is $1,463/month and in Palm Bay it's $1,487/month — a difference of $24/month.
Which city has higher income, Elizabeth or Palm Bay?
Median household income is $63,874 in Elizabeth and $67,521 in Palm Bay. Median household income is $3,647/year higher in Palm Bay.
How do taxes compare between New Jersey and Florida?
New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.
Should I move to Elizabeth or Palm Bay?
It depends on your priorities. Elizabeth has a cost index of 112 with median rent of $1,463/mo, while Palm Bay has a cost index of 91 with rent of $1,487/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Elizabeth details → View Palm Bay details →

More Comparisons

Other cost of living comparisons for Elizabeth and Palm Bay

Elizabeth vs. Victorville Elizabeth vs. Stamford Elizabeth vs. Miramar Elizabeth vs. Kent Elizabeth vs. Pasadena Elizabeth vs. Midland Palm Bay vs. Allentown Palm Bay vs. Meridian Palm Bay vs. Thousand Oaks Palm Bay vs. Vallejo Palm Bay vs. Simi Valley Palm Bay vs. Round Rock