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

Newark

New Jersey
100
VS

Hollywood

Florida
113

Newark is 12% cheaper than Hollywood.

$1,330/mo ↓ 14%
Median Rent
$1,555/mo ↑ 17%
$48,416/yr ↓ 26%
Median Income
$65,359/yr ↑ 35%
$337,800 ↓ 10%
Home Value
$374,200 ↑ 11%
$1,419/mo ↓ 10%
Owner Costs
$1,568/mo ↑ 11%
307,188
Population
152,935

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
28.6%
rent-to-income

Detailed Comparison

When comparing Newark, NJ and Hollywood, FL, the overall cost of living indices are 100 and 113 respectively (national median = 100). Rent is $225/month cheaper in Newark, saving renters about $2,700/year.

Median household income is $16,943/year higher in Hollywood. Home values also differ significantly — the median in Newark is $337,800 compared to $374,200 in Hollywood.

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

Frequently Asked Questions

Newark vs Hollywood — common questions

Is Newark or Hollywood cheaper to live in?
Based on our cost index, Newark is cheaper to live in with an index of 100 compared to 113 (US average = 100).
What is the rent difference between Newark and Hollywood?
Median rent in Newark is $1,330/month and in Hollywood it's $1,555/month — a difference of $225/month.
Which city has higher income, Newark or Hollywood?
Median household income is $48,416 in Newark and $65,359 in Hollywood. Median household income is $16,943/year higher in Hollywood.
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 Hollywood?
It depends on your priorities. Newark has a cost index of 100 with median rent of $1,330/mo, while Hollywood has a cost index of 113 with rent of $1,555/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Newark details → View Hollywood details →

More Comparisons

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