Cost of Living in Newark, NJ
|Cost of Living in Newark, NJ||Compared to State Average||Compared to National Average|
|Housing (Buy and Rent)||13% higher||56% higher|
|Utilities (Monthly)||4% higher||7% higher|
|Transportation||2% higher||7% higher|
|Goods & Services||6% higher||13% higher|
The cost of living in Newark, NJ is 7% higher than the state average and 23% higher than the national average. Newark, NJ housing is 56% more expensive than the U.S average, while utilities are about 7% pricier. When it comes to basic necessities such as food and clothing, groceries are around 13% more in Newark, NJ than in the rest of the country, while clothing costs around 13% more .
Healthcare services such as doctor check-ups and dentistry cost 2% less here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 13% pricier in Newark, NJ.
Housing (Buy and Rent)
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Newark is $1,382, while home prices circle around $628,753.
- 3 Beds
- 2 Baths
- 1,200 Sq.Ft.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Newark, energy bills cost around $194.05 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $2.55 in Newark, a dozen eggs go for around $1.78 and a pound of potatoes circles around $3.29.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Newark, an optometry check-up costs around $105.65, while a dentist appointment is priced $104.15 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $2.94 in Newark, while getting your tires balanced will run you about $58.35.
Goods & Services
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $46.90 here. Meanwhile, a pair of women's slacks will set you back around $43.36.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Newark, you should budget around $13.00 a month. When it comes to personal services, a haircut usually goes for $22.60, while dry cleaning costs about $12.03.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Newark, the median household income is $37,476.