Cost of Living: Hickman, KY vs Newark, NJ
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Hickman | Newark |
|---|---|---|
| Housing Index | 85.0 | 130.5 |
| Median Home Price | $162,000 | $327,000 |
| Average Rent (2 BR Apartment) | $960 | $2200 |
| Average Rent (2 BR House) | $1040 | $2267 |
Housing Comparison: Hickman vs Newark
- The median home price in Newark is higher at $327,000, compared to $162,000 in Hickman.
- Renting a two-bedroom apartment costs more in Hickman at $960 than in Newark at $2,200.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Hickman | Newark |
|---|---|---|
| Electricity Price | $12.87 | $19.88 |
| Natural Gas Price | $22.78 | $14.01 |
| Other Utilities | $180 | $250 |
Utilities Comparison: Hickman vs Newark
- Newark has higher electricity costs at $19.88 per kWh, versus $12.87 in Hickman.
- Natural gas is more expensive in Hickman at $22.78 per unit, while it is cheaper at $14.01 in Newark.
- Newark has higher utility expenses, averaging $250, while Hickman averages $180.