Housing costs in Newark?
A typical home costs
$385,700, which is 14.1% more expensive than the national average of
$338,100 and 10.7% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Newark costs
$1,390 per month, which is 2.8% cheaper than the national average of
$1,430 and 23.0% cheaper than the state average of
$1,710.
Can I afford Newark?
To live comfortably in Newark, New Jersey, a minimum annual income of
$73,800 for a family, and
$46,400 for a single person is recommended.
What does A.I. say about Newark?
Newark, New Jersey boasts both affordability and exciting attractions - allowing you to get the best out of your money. Homeowners can find plenty of housing choices ranging from inexpensive single family homes to luxurious penthouses - while renters also have access to even more attractive deals now than ever before. Additionally, groceries and transportation expenses are relatively low when compared with other parts of the country - making Newark a great option if you want stick within budget.