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

Newark

New Jersey
100
VS

Palm Bay

Florida
91

Newark is 10% more expensive than Palm Bay.

$1,330/mo ↓ 11%
Median Rent
$1,487/mo ↑ 12%
$48,416/yr ↓ 28%
Median Income
$67,521/yr ↑ 39%
$337,800 ↑ 36%
Home Value
$248,000 ↓ 27%
$1,419/mo ↑ 18%
Owner Costs
$1,203/mo ↓ 15%
307,188
Population
125,273

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
26.4%
rent-to-income

Detailed Comparison

When comparing Newark, NJ and Palm Bay, FL, the overall cost of living indices are 100 and 91 respectively (national median = 100). Rent is $157/month cheaper in Newark, saving renters about $1,884/year.

Median household income is $19,105/year higher in Palm Bay. Home values also differ significantly — the median in Newark is $337,800 compared to $248,000 in Palm Bay.

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

Frequently Asked Questions

Newark vs Palm Bay — common questions

Is Newark or Palm Bay cheaper to live in?
Based on our cost index, Palm Bay is cheaper to live in with an index of 91 compared to 100 (US average = 100).
What is the rent difference between Newark and Palm Bay?
Median rent in Newark is $1,330/month and in Palm Bay it's $1,487/month — a difference of $157/month.
Which city has higher income, Newark or Palm Bay?
Median household income is $48,416 in Newark and $67,521 in Palm Bay. Median household income is $19,105/year higher in Palm Bay.
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 Palm Bay?
It depends on your priorities. Newark has a cost index of 100 with median rent of $1,330/mo, while Palm Bay has a cost index of 91 with rent of $1,487/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Newark details → View Palm Bay details →

More Comparisons

Other cost of living comparisons for Newark and Palm Bay

Newark vs. St. Paul Newark vs. Pittsburgh Newark vs. Irvine Newark vs. Greensboro Newark vs. Cincinnati Newark vs. St. Louis Palm Bay vs. Allentown Palm Bay vs. Meridian Palm Bay vs. Thousand Oaks Palm Bay vs. Vallejo Palm Bay vs. Simi Valley Palm Bay vs. Round Rock