Is New York, NY cheaper than Newark, NJ?

Based on cost of living data, New York, NY is 0.0% cheaper than Newark, NJ. The two cities have very similar living costs.

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

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

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

Housing in New York, NY is 0.0% cheaper than in Newark, NJ. For a two-bedroom apartment, rent is $3,590/month in New York, NY compared to $1,930/month in Newark, NJ.

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

Newark, NJ and New York, NY have very similar costs of living, based on a $150,000 salary.

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

Tap to swap

Cost of Living Comparison 2026

Data: HUD rent estimates, BLS cost of living

Current salary in Newark, NJ

Numbers update automatically as you type

Newark, NJ and New York, NY have similar living costs

$150.0K in your current city equals $150.0K in New York, NY

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

Overall Cost

→ 0.0%

Same cost

Monthly Impact

No change

Annual Impact

Per year

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

Newark, NJ

Population:312K

Cost Index:

100

100 = national average

Median Home:$484K

New York, NY

Population:8337K

Cost Index:

100

(national average)

Median Home:$1.05M

Newark, NJ

The Garden State

312K

Population

State Tax

Yes

Located in New Jersey, this city has a population of 312K residents.

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

Cost Breakdown by Category

Annual spending: Newark, NJ vs New York, NY

Category	Newark, NJ	New York, NY	Difference	Change
Housing	$7,648/mo	$7,648/mo	→ $0	0.0%
Groceries	$1,165/mo	$1,165/mo	→ $0	0.0%
Transportation	$1,602/mo	$1,602/mo	→ $0	0.0%
All Utilities	$600/mo	$600/mo	→ $0	0.0%
Healthcare	$688/mo	$688/mo	→ $0	0.0%
Other	$2,034/mo	$2,034/mo	→ $0	0.0%

Housing

→ 0.0%

Newark, NJ

$7,648

New York, NY

$7,648

Difference

same

Groceries

→ 0.0%

Newark, NJ

$1,165

New York, NY

$1,165

Difference

same

Transportation

→ 0.0%

Newark, NJ

$1,602

New York, NY

$1,602

Difference

same

All Utilities

→ 0.0%

Newark, NJ

$600

New York, NY

$600

Difference

same

Healthcare

→ 0.0%

Newark, NJ

$688

New York, NY

$688

Difference

same

Other

→ 0.0%

Newark, NJ

$2,034

New York, NY

$2,034

Difference

same

🏛️ Local Income Taxes

Newark, NJ: Newark Payroll Tax$1,500/yr (1.0%)

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

Net difference+$4,189/yr

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

🏠Rent Comparison

Studio

From$1,400

To$3,120

↑ $1,720

1 Bed

From$1,600

To$3,270

↑ $1,670

2 Bed

From$1,930

To$3,590

↑ $1,660

3 Bed

From$2,430

To$4,500

↑ $2,070

Newark, NJZIP-level data

1BR range: $1,600–$1,610/mo

New York, NYZIP-level data

1BR range: $2,260–$3,990/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 Newark, NJ

$13,737

Monthly in New York, NY

Difference

Home Values

Newark

New York

$484K

Median Value

$1.05M

↓ -0.4%

YoY Change

↓ -0.1%

↑ +30.9%

5-Year Change

↓ -5.9%

$395K - $565K

Price Range

$471K - $3.49M

Homes in New York are 117% more expensive than Newark

Calculate payment - Newark Calculate payment - New York

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

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↓ $2.1K

More taxes

Monthly Difference

$176

Less take-home

Effective Rate Diff

1.4%

Rate difference

Newark, 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

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

Additional Tax Information

Newark, NJ Tax Rates

Sales Tax:6.6%

Property Tax:2.5%

New York, NY Tax Rates

Sales Tax:8.8%

Property Tax:1.2%

💡 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.