Is Elizabeth, NJ cheaper than New York, NY?

Based on cost of living data, Elizabeth, NJ is 36.9% cheaper than New York, NY. This translates to saving $2765 per month.

What salary do I need in Elizabeth, NJ to live like I do in New York, NY?

If you earn $150,000 in New York, NY, you'd need approximately $116,814.17 in Elizabeth, NJ to maintain the same standard of living.

How does housing cost compare between New York, NY and Elizabeth, NJ?

Housing in Elizabeth, NJ is 73.9% cheaper than in New York, NY. For a two-bedroom apartment, rent is $1,682/month in Elizabeth, NJ compared to $3,590/month in New York, NY.

How much can I save per month by moving from New York, NY to Elizabeth, NJ?

Moving from New York, NY to Elizabeth, NJ could save you approximately $2765 per month, or $33186 per year, based on a $150,000 salary.

New York, NY vs Elizabeth, NJ: Cost of Living Comparison 2026

Tap to swap

Cost of Living Comparison 2026

Data: HUD rent estimates, BLS cost of living

Current salary in New York, NY

Numbers update automatically as you type

You'd save $2.8K/month moving to Elizabeth, NJ

$150.0K in your current city equals $116.8K in Elizabeth, NJ

Rent data from HUD ZIP-level estimates · COL index from New York-Newark-Jersey City, NY-NJ-PA area

Overall Cost

↓ 36.9%

Less expensive

Monthly Impact

$2,765

Savings

Annual Impact

$33.2K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

New York, NY

Population:8337K

Cost Index:

100

100 = national average

Median Home:$1.05M

Elizabeth, NJ

Population:136K

Cost Index:

(37% below avg)

Median Home:$501K

New York, NY

The Empire State

8.3M

Population

State Tax

Yes

Climate

Humid subtropical

Notable Facts

•Most populous city in the US
•Major global financial center
•World-renowned cultural hub

Major Industries

FinanceReal EstateTechnologyMedia

Elizabeth, NJ

The Garden State

136K

Population

State Tax

Yes

Located in New Jersey, this city has a population of 136K residents.

Cost Breakdown by Category

Annual spending: New York, NY vs Elizabeth, NJ

Category	New York, NY	Elizabeth, NJ	Difference	Change
Housing	$7,648/mo	$1,998/mo	↓ $5,650less	73.9%
Groceries	$1,165/mo	$1,089/mo	↓ $75.90less	6.5%
Other	$2,034/mo	$1,989/mo	↓ $44.88less	2.2%
Transportation	$1,602/mo	$1,569/mo	↓ $32.91less	2.1%
All Utilities	$600/mo	$590/mo	↓ $9.76less	1.6%
Healthcare	$688/mo	$682/mo	↓ $6.23less	0.9%

Housing

↓ 73.9%

New York, NY

$7,648

Elizabeth, NJ

$1,998

Difference

$5,650

less

Groceries

↓ 6.5%

New York, NY

$1,165

Elizabeth, NJ

$1,089

Difference

$75.90

less

Other

↓ 2.2%

New York, NY

$2,034

Elizabeth, NJ

$1,989

Difference

$44.88

less

Transportation

↓ 2.1%

New York, NY

$1,602

Elizabeth, NJ

$1,569

Difference

$32.91

less

All Utilities

↓ 1.6%

New York, NY

$600

Elizabeth, NJ

$590

Difference

$9.76

less

Healthcare

↓ 0.9%

New York, NY

$688

Elizabeth, NJ

$682

Difference

$6.23

less

🏛️ Local Income Taxes

New York, NY: NYC Income Tax$5,689/yr (3.8%)

Elizabeth, NJ has no local income tax.

Local taxes are in addition to state income tax. Not all cities levy local income taxes.

🏠Rent Comparison

Studio

From$3,120

To$1,231

↓ $1,889

1 Bed

From$3,270

To$1,390

↓ $1,880

2 Bed

From$3,590

To$1,682

↓ $1,908

3 Bed

From$4,500

To$2,108

↓ $2,392

New York, NYZIP-level data

1BR range: $2,260–$3,990/mo

Elizabeth, NJZIP-level data

1BR range: $1,600–$1,700/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$13,737

Monthly in New York, NY

$7,917

Monthly in Elizabeth, NJ

$5,820

Difference

Home Values

New York

Elizabeth

$1.05M

Median Value

$501K

↓ -0.1%

YoY Change

↑ +4.3%

↓ -5.9%

5-Year Change

↑ +55.6%

$471K - $3.49M

Price Range

$495K - $565K

Homes in Elizabeth are 52% less expensive than New York

Calculate payment - New York Calculate payment - Elizabeth

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $2.1K

Per year

Monthly Difference

$176

More take-home

Effective Rate Diff

1.4%

Rate difference

New York, NY

Federal Income Tax

Effective: 18.9%

$25.5K

New York State Tax

Effective: 6.4%

$9.5K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 31.0%

$46.6K

Take-Home Pay

$8,620/month

$103.4K

Elizabeth, NJ

Federal Income Tax

Effective: 18.9%

$25.5K

New Jersey State Tax

Effective: 5.0%

$7.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.6%

$44.4K

Take-Home Pay

$8,796/month

$105.6K

Additional Tax Information

New York, NY Tax Rates

Sales Tax:8.8%

Property Tax:1.2%

Elizabeth, NJ Tax Rates

Sales Tax:6.6%

Property Tax:2.5%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.