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

Newark

New Jersey
100
VS

Cape Coral

Florida
114

Newark is 12% cheaper than Cape Coral.

$1,330/mo ↓ 24%
Median Rent
$1,751/mo ↑ 32%
$48,416/yr ↓ 36%
Median Income
$76,062/yr ↑ 57%
$337,800 ≈ Same
Home Value
$339,200 ≈ Same
$1,419/mo ↓ 7%
Owner Costs
$1,523/mo ↑ 7%
307,188
Population
206,387

Tax Comparison

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

Affordability

33.0%
rent-to-income
Affordability
27.6%
rent-to-income

Detailed Comparison

When comparing Newark, NJ and Cape Coral, FL, the overall cost of living indices are 100 and 114 respectively (national median = 100). Rent is $421/month cheaper in Newark, saving renters about $5,052/year.

Median household income is $27,646/year higher in Cape Coral. Home values also differ significantly — the median in Newark is $337,800 compared to $339,200 in Cape Coral.

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

Frequently Asked Questions

Newark vs Cape Coral — common questions

Is Newark or Cape Coral cheaper to live in?
Based on our cost index, Newark is cheaper to live in with an index of 100 compared to 114 (US average = 100).
What is the rent difference between Newark and Cape Coral?
Median rent in Newark is $1,330/month and in Cape Coral it's $1,751/month — a difference of $421/month.
Which city has higher income, Newark or Cape Coral?
Median household income is $48,416 in Newark and $76,062 in Cape Coral. Median household income is $27,646/year higher in Cape Coral.
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 Newark or Cape Coral?
It depends on your priorities. Newark has a cost index of 100 with median rent of $1,330/mo, while Cape Coral has a cost index of 114 with rent of $1,751/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Newark details → View Cape Coral details →

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