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

Paterson

New Jersey
106
VS

Elizabeth

New Jersey
112

Paterson is 5% cheaper than Elizabeth.

$1,457/mo ≈ Same
Median Rent
$1,463/mo ≈ Same
$53,766/yr ↓ 16%
Median Income
$63,874/yr ↑ 19%
$335,400 ↓ 15%
Home Value
$393,500 ↑ 17%
$1,553/mo ≈ Same
Owner Costs
$1,543/mo ≈ Same
157,660
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

32.5%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing Paterson, NJ and Elizabeth, NJ, the overall cost of living indices are 106 and 112 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $10,108/year higher in Elizabeth. Home values also differ significantly — the median in Paterson is $335,400 compared to $393,500 in Elizabeth.

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

Frequently Asked Questions

Paterson vs Elizabeth — common questions

Is Paterson or Elizabeth cheaper to live in?
Based on our cost index, Paterson is cheaper to live in with an index of 106 compared to 112 (US average = 100).
What is the rent difference between Paterson and Elizabeth?
Median rent in Paterson is $1,457/month and in Elizabeth it's $1,463/month — a difference of $6/month.
Which city has higher income, Paterson or Elizabeth?
Median household income is $53,766 in Paterson and $63,874 in Elizabeth. Median household income is $10,108/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 Paterson or Elizabeth?
It depends on your priorities. Paterson has a cost index of 106 with median rent of $1,457/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 Paterson details → View Elizabeth details →

More Comparisons

Other cost of living comparisons for Paterson and Elizabeth

Paterson vs. Corona Paterson vs. Murfreesboro Paterson vs. Hayward Paterson vs. Alexandria Paterson vs. Salinas Paterson vs. Macon Elizabeth vs. Victorville Elizabeth vs. Stamford Elizabeth vs. Miramar Elizabeth vs. Kent Elizabeth vs. Pasadena Elizabeth vs. Midland