Housing costs in Elizabeth?
A typical home costs
$384,600, which is 13.8% more expensive than the national average of
$338,100 and 11.0% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Elizabeth costs
$1,460 per month, which is 14.6% cheaper than the national average of
$1,710 and 48.6% cheaper than the state average of
$2,170.
Can I afford Elizabeth?
To live comfortably in Elizabeth (zip 07202), New Jersey, a minimum annual income of
$73,800 for a family, and
$48,400 for a single person is recommended.
What does A.I. say about Elizabeth?
Living in Elizabeth, NJ offers many advantages and the cost of living is no exception. The 07202 zip code is considered to be one of the most affordable areas for renting or buying a home in New Jersey. According to recent data from BestPlaces, the estimated monthly cost of living for a single person is approximately $1,300. This includes rent, groceries, utilities and miscellaneous costs such as entertainment and transportation. The average rent for a one-bedroom apartment is around $900 per month while a three-bedroom can range up to about $1,500 per month. Property taxes are also lower than in other parts of the state adding to the overall affordability of this location.