Cost of Living: Newark, NJ vs McKinney, TX (2026)

Newark

New Jersey
100
VS

McKinney

Texas
138

Newark is 28% cheaper than McKinney.

$1,330/mo ↓ 28%
Median Rent
$1,841/mo ↑ 38%
$48,416/yr ↓ 60%
Median Income
$120,273/yr ↑ 148%
$337,800 ↓ 23%
Home Value
$439,500 ↑ 30%
$1,419/mo ↓ 32%
Owner Costs
$2,101/mo ↑ 48%
307,188
Population
202,314

Tax Comparison

10.75%
Income Tax
0%
6.625%
State Sales Tax
6.25%
2.23%
Property Tax
1.6%

Affordability

33.0%
rent-to-income
Affordability
18.4%
rent-to-income

Detailed Comparison

When comparing Newark, NJ and McKinney, TX, the overall cost of living indices are 100 and 138 respectively (national median = 100). Rent is $511/month cheaper in Newark, saving renters about $6,132/year.

Median household income is $71,857/year higher in McKinney. Home values also differ significantly — the median in Newark is $337,800 compared to $439,500 in McKinney.

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

Frequently Asked Questions

Newark vs McKinney — common questions

Is Newark or McKinney cheaper to live in?
Based on our cost index, Newark is cheaper to live in with an index of 100 compared to 138 (US average = 100).
What is the rent difference between Newark and McKinney?
Median rent in Newark is $1,330/month and in McKinney it's $1,841/month — a difference of $511/month.
Which city has higher income, Newark or McKinney?
Median household income is $48,416 in Newark and $120,273 in McKinney. Median household income is $71,857/year higher in McKinney.
How do taxes compare between New Jersey and Texas?
New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Newark or McKinney?
It depends on your priorities. Newark has a cost index of 100 with median rent of $1,330/mo, while McKinney has a cost index of 138 with rent of $1,841/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Newark details → View McKinney details →

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