Cost of Living: Newark, NJ vs Moorhead, MN
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Newark | Moorhead |
|---|---|---|
| Housing Index | 130.5 | 115.0 |
| Median Home Price | $327,000 | $305,000 |
| Average Rent (2 BR Apartment) | $2200 | $1200 |
| Average Rent (2 BR House) | $2267 | $1280 |
Housing Comparison: Newark vs Moorhead
- In Newark, the median home price is higher at $327,000, while in Moorhead it is $305,000.
- Renting a two-bedroom apartment costs more in Newark at $2,200 than in Moorhead 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 | Moorhead |
|---|---|---|
| Electricity Price | $19.88 | $16.38 |
| Natural Gas Price | $14.01 | $14.87 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Newark vs Moorhead
- Electricity costs are higher in Newark at $19.88 per kWh, compared to $16.38 in Moorhead.
- Moorhead experiences higher natural gas costs at $14.87 per unit, with costs at $14.01 in Newark.
- Utility expenses are equal in both Newark and Moorhead averaging $250.