Cost of Living: Lafayette, LA vs Newark, NJ
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Lafayette | Newark |
|---|---|---|
| Housing Index | 90.0 | 130.5 |
| Median Home Price | $215,000 | $327,000 |
| Average Rent (2 BR Apartment) | $1200 | $2200 |
| Average Rent (2 BR House) | $1360 | $2267 |
Housing Comparison: Lafayette vs Newark
- The median home price in Newark is higher at $327,000, compared to $215,000 in Lafayette.
- In Newark, the rental for a two-bedroom apartment stands at $2,200, while it is $1,200 in Lafayette.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Lafayette | Newark |
|---|---|---|
| Electricity Price | $11.42 | $19.88 |
| Natural Gas Price | $19.48 | $14.01 |
| Other Utilities | $200 | $250 |
Utilities Comparison: Lafayette vs Newark
- Newark has higher electricity costs at $19.88 per kWh, versus $11.42 in Lafayette.
- Natural gas is more expensive in Lafayette at $19.48 per unit, while it is cheaper at $14.01 in Newark.
- Newark has higher utility expenses, averaging $250, while Lafayette averages $200.