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

Newark

New Jersey
100
VS

Plano

Texas
132

Newark is 24% cheaper than Plano.

$1,330/mo ↓ 26%
Median Rent
$1,792/mo ↑ 35%
$48,416/yr ↓ 55%
Median Income
$108,649/yr ↑ 124%
$337,800 ↓ 23%
Home Value
$440,600 ↑ 30%
$1,419/mo ↓ 22%
Owner Costs
$1,829/mo ↑ 29%
307,188
Population
287,339

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
19.8%
rent-to-income

Detailed Comparison

When comparing Newark, NJ and Plano, TX, the overall cost of living indices are 100 and 132 respectively (national median = 100). Rent is $462/month cheaper in Newark, saving renters about $5,544/year.

Median household income is $60,233/year higher in Plano. Home values also differ significantly — the median in Newark is $337,800 compared to $440,600 in Plano.

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

Frequently Asked Questions

Newark vs Plano — common questions

Is Newark or Plano cheaper to live in?
Based on our cost index, Newark is cheaper to live in with an index of 100 compared to 132 (US average = 100).
What is the rent difference between Newark and Plano?
Median rent in Newark is $1,330/month and in Plano it's $1,792/month — a difference of $462/month.
Which city has higher income, Newark or Plano?
Median household income is $48,416 in Newark and $108,649 in Plano. Median household income is $60,233/year higher in Plano.
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 Plano?
It depends on your priorities. Newark has a cost index of 100 with median rent of $1,330/mo, while Plano has a cost index of 132 with rent of $1,792/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Newark details → View Plano details →

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