Whether you're considering relocation to Newark, New Jersey or just curious about the cost of living in Newark, New Jersey, the PayScale Cost of Living Calculator is the place to begin your research. When looking at the cost of living charts below, be sure to pay attention to the housing expense category. Housing costs and mortgage rates can vary by city because local banks can have different mortgage rates from their national competition. If you are serious about relocation to Newark, New Jersey, you might want to investigate local mortgage rate options before you put your house up for sale.
Cost of Living in Newark, New Jersey by Expense Category
Cost of Living Scales in New JerseyMany events in early United States history occurred in New Jersey. Being the third state to join the union, New Jersey is one of the most historical places in the country. Newark, the largest city in New Jersey, is a city with great culture and history as well. Being a mere five miles from Manhattan and two miles from Staten Island, Newark can be a sensible place to live if you are considering working in either New Jersey or New York. If you are considering a move to Newark, the cost of living scales in New Jersey may be of interest to you. The chart above shows that the cost of living in Newark is about 30 percent higher than the national average, mostly due to the high cost of housing, which is around 66 percent greater than the national average. If you plan on working in New York, it may be beneficial to consider living in New Jersey, as housing costs in New York are even higher! To see how the cost of living in other New Jersey cities compares to the cost of living in Newark, use PayScale’s Cost of Living Calculator or click on the links below.
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