Newark, New Jersey gets a BestPlaces Cost of Living index of 135, which means the total cost of housing, food, child care, transportation, health care, taxes, and other necessities is 35.0 percent higher than the U.S. average and 12.7 percent lower than the average for New Jersey.
A typical home costs $385,700, which is 14.1 percent more expensive than the national average of $338,100 and 10.7 percent 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 percent cheaper than the national average of $1,430 and 23.0 percent cheaper than the state average of $1,710.
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.
Our cost of living indices are based on a US average of 100. An amount below 100 means Newark is cheaper than the US average. A cost of living index above 100 means Newark, New Jersey is more expensive.
Newark cost of living is 135.0