Cost of Living: Newark, NJ vs Elizabeth, NJ (2026)

Newark

New Jersey
100
VS

Elizabeth

New Jersey
112

Newark is 11% cheaper than Elizabeth.

$1,330/mo ↓ 9%
Median Rent
$1,463/mo ↑ 10%
$48,416/yr ↓ 24%
Median Income
$63,874/yr ↑ 32%
$337,800 ↓ 14%
Home Value
$393,500 ↑ 16%
$1,419/mo ↓ 8%
Owner Costs
$1,543/mo ↑ 9%
307,188
Population
135,887

Tax Comparison

10.75%
Income Tax
10.75%
6.625%
State Sales Tax
6.625%
2.23%
Property Tax
2.23%

Affordability

33.0%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing Newark, NJ and Elizabeth, NJ, the overall cost of living indices are 100 and 112 respectively (national median = 100). Rent is $133/month cheaper in Newark, saving renters about $1,596/year.

Median household income is $15,458/year higher in Elizabeth. Home values also differ significantly — the median in Newark is $337,800 compared to $393,500 in Elizabeth.

Both cities share the same state tax structure since they are in New Jersey.

Frequently Asked Questions

Newark vs Elizabeth — common questions

Is Newark or Elizabeth cheaper to live in?
Based on our cost index, Newark is cheaper to live in with an index of 100 compared to 112 (US average = 100).
What is the rent difference between Newark and Elizabeth?
Median rent in Newark is $1,330/month and in Elizabeth it's $1,463/month — a difference of $133/month.
Which city has higher income, Newark or Elizabeth?
Median household income is $48,416 in Newark and $63,874 in Elizabeth. Median household income is $15,458/year higher in Elizabeth.
How do taxes compare between New Jersey and New Jersey?
Both cities are in New Jersey and share the same state tax rates: 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to Newark or Elizabeth?
It depends on your priorities. Newark has a cost index of 100 with median rent of $1,330/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.
View Newark details → View Elizabeth details →

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