Miami, FL vs Newark, NJ: 129 vs 100

$1,657/mo ↑ 25%

Median Rent

$1,330/mo ↓ 20%

$59,390/yr ↑ 23%

Median Income

$48,416/yr ↓ 18%

$475,200 ↑ 41%

Home Value

$337,800 ↓ 29%

$1,666/mo ↑ 17%

Owner Costs

$1,419/mo ↓ 15%

446,663

Population

307,188

Detailed Comparison

When comparing Miami, FL and Newark, NJ, the overall cost of living indices are 129 and 100 respectively (national median = 100). Rent is $327/month cheaper in Newark, saving renters about $3,924/year.

Median household income is $10,974/year higher in Miami. Home values also differ significantly — the median in Miami is $475,200 compared to $337,800 in Newark.

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

Frequently Asked Questions

Miami vs Newark — common questions

Is Miami or Newark cheaper to live in?

Based on our cost index, Newark is cheaper to live in with an index of 100 compared to 129 (US average = 100).

What is the rent difference between Miami and Newark?

Median rent in Miami is $1,657/month and in Newark it's $1,330/month — a difference of $327/month.

Which city has higher income, Miami or Newark?

Median household income is $59,390 in Miami and $48,416 in Newark. Median household income is $10,974/year higher in Miami.

How do taxes compare between Florida and New Jersey?

Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.

Should I move to Miami or Newark?

It depends on your priorities. Miami has a cost index of 129 with median rent of $1,657/mo, while Newark has a cost index of 100 with rent of $1,330/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.

Cost of Living: Miami, FL vs Newark, NJ (2026)

Miami

Newark

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions

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