New York, NY vs Newark, NJ
Cost of living comparison · 2023 Census ACS data
Quick Summary
The headline difference between these two markets is housing: a typical home in Newark runs $338,000 versus $752,000 in New York, a 55% gap that dominates most relocation math.
Median Home Value
$751,700
$337,800 ✓
Zillow Home Value
$812,534
$474,177
Median Gross Rent
$1,779/mo
$1,330/mo ✓
Owner Occupied %
32.8%
24.1%
Price-to-Rent Ratio
35.2x
21.2x
Median Household Income
$79,713 ✓
$48,416
Per Capita Income
$50,776
$25,509
Unemployment Rate
7.7% ✓
10.9%
Poverty Rate
17.4%
24.7%
Avg Commute (min)
44.8 min
36.3 min
Drove Alone %
21.9%
50.4%
Public Transit %
45.5%
18.6%
Work From Home %
15.0%
6.1%
State Income Tax
10.9%
10.8%
Total Sales Tax
8.5%
6.6% ✓
Property Tax Rate
1.7%
2.5%
Bachelor's Degree %
23.6%
12.2%
Median Age
38
34.8
Avg High Temp
62.6°F
63.8°F
Annual Precipitation
49.5"
46.6"
Annual Snowfall
29.8"
31.5"
New York, NY 2 wins
- ✓Median Household Income
- ✓Unemployment Rate
Newark, NJ 3 wins
- ✓Median Home Value
- ✓Median Gross Rent
- ✓Total Sales Tax
Thinking about moving? See what salary you'd need in each city.
Open Cost of Living Calculator →