Cost of Living: Newark, NJ vs Lake ariel, PA
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Newark | Lake ariel |
|---|---|---|
| Housing Index | 130.5 | 90.0 |
| Median Home Price | $327,000 | $310,000 |
| Average Rent (2 BR Apartment) | $2200 | $1600 |
| Average Rent (2 BR House) | $2267 | $1640 |
Housing Comparison: Newark vs Lake ariel
- In Newark, the median home price is higher at $327,000, while in Lake ariel it is $310,000.
- Renting a two-bedroom apartment costs more in Newark at $2,200 than in Lake ariel at $1,600.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Newark | Lake ariel |
|---|---|---|
| Electricity Price | $19.88 | $17.68 |
| Natural Gas Price | $14.01 | $17.61 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Newark vs Lake ariel
- Electricity costs are higher in Newark at $19.88 per kWh, compared to $17.68 in Lake ariel.
- Lake ariel experiences higher natural gas costs at $17.61 per unit, with costs at $14.01 in Newark.
- Utility expenses are equal in both Newark and Lake ariel averaging $250.