Cost of Living: Newark, NJ vs Rockford, IL
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Newark | Rockford |
|---|---|---|
| Housing Index | 130.5 | 85.0 |
| Median Home Price | $327,000 | $156,000 |
| Average Rent (2 BR Apartment) | $2200 | $1200 |
| Average Rent (2 BR House) | $2267 | $1360 |
Housing Comparison: Newark vs Rockford
- In Newark, the median home price is higher at $327,000, while in Rockford it is $156,000.
- Renting a two-bedroom apartment costs more in Newark at $2,200 than in Rockford at $1,200.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Newark | Rockford |
|---|---|---|
| Electricity Price | $19.88 | $16.15 |
| Natural Gas Price | $14.01 | $16.59 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Newark vs Rockford
- Electricity costs are higher in Newark at $19.88 per kWh, compared to $16.15 in Rockford.
- Rockford experiences higher natural gas costs at $16.59 per unit, with costs at $14.01 in Newark.
- Utility expenses are equal in both Newark and Rockford averaging $250.