Cost of Living: Indianapolis, IN vs Elizabeth, NJ (2026)

Indianapolis

Indiana
74
VS

Elizabeth

New Jersey
112

Indianapolis is 34% cheaper than Elizabeth.

$1,112/mo ↓ 24%
Median Rent
$1,463/mo ↑ 32%
$62,995/yr ↓ 1%
Median Income
$63,874/yr ↑ 1%
$207,000 ↓ 47%
Home Value
$393,500 ↑ 90%
$1,124/mo ↓ 27%
Owner Costs
$1,543/mo ↑ 37%
882,043
Population
135,887

Tax Comparison

3.05%
Income Tax
10.75%
7.0%
State Sales Tax
6.625%
0.83%
Property Tax
2.23%

Affordability

21.2%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing Indianapolis, IN and Elizabeth, NJ, the overall cost of living indices are 74 and 112 respectively (national median = 100). Rent is $351/month cheaper in Indianapolis, saving renters about $4,212/year.

Median household income is $879/year higher in Elizabeth. Home values also differ significantly — the median in Indianapolis is $207,000 compared to $393,500 in Elizabeth.

Indiana has a lower income tax rate, making Indianapolis slightly more tax-friendly.

Frequently Asked Questions

Indianapolis vs Elizabeth — common questions

Is Indianapolis or Elizabeth cheaper to live in?
Based on our cost index, Indianapolis is cheaper to live in with an index of 74 compared to 112 (US average = 100).
What is the rent difference between Indianapolis and Elizabeth?
Median rent in Indianapolis is $1,112/month and in Elizabeth it's $1,463/month — a difference of $351/month.
Which city has higher income, Indianapolis or Elizabeth?
Median household income is $62,995 in Indianapolis and $63,874 in Elizabeth. Median household income is $879/year higher in Elizabeth.
How do taxes compare between Indiana and New Jersey?
Indiana has 3.05% income tax, 7.0% sales tax, and 0.83% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to Indianapolis or Elizabeth?
It depends on your priorities. Indianapolis has a cost index of 74 with median rent of $1,112/mo, while Elizabeth has a cost index of 112 with rent of $1,463/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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