Cost of Living: Methuen, MA vs Newark, NJ
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Methuen | Newark |
|---|---|---|
| Housing Index | 120.0 | 130.5 |
| Median Home Price | $491,000 | $327,000 |
| Average Rent (2 BR Apartment) | $2300 | $2200 |
| Average Rent (2 BR House) | $2400 | $2267 |
Housing Comparison: Methuen vs Newark
- In Methuen, the median home price is higher at $491,000, while in Newark it is $327,000.
- Renting a two-bedroom apartment costs more in Methuen at $2,300 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 | Methuen | Newark |
|---|---|---|
| Electricity Price | $28.15 | $19.88 |
| Natural Gas Price | $21.62 | $14.01 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Methuen vs Newark
- Electricity costs are higher in Methuen at $28.15 per kWh, compared to $19.88 in Newark.
- Natural gas is more expensive in Methuen at $21.62 per unit, while it is cheaper at $14.01 in Newark.
- Utility expenses are equal in both Methuen and Newark averaging $250.