Cost of Living: Radford, VA vs Newark, NJ
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Radford | Newark |
|---|---|---|
| Housing Index | 90.0 | 130.5 |
| Median Home Price | $205,000 | $327,000 |
| Average Rent (2 BR Apartment) | $1200 | $2200 |
| Average Rent (2 BR House) | $1360 | $2267 |
Housing Comparison: Radford vs Newark
- The median home price in Newark is higher at $327,000, compared to $205,000 in Radford.
- In Newark, the rental for a two-bedroom apartment stands at $2,200, while it is $1,200 in Radford.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Radford | Newark |
|---|---|---|
| Electricity Price | $15.31 | $19.88 |
| Natural Gas Price | $19.91 | $14.01 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Radford vs Newark
- Newark has higher electricity costs at $19.88 per kWh, versus $15.31 in Radford.
- Natural gas is more expensive in Radford at $19.91 per unit, while it is cheaper at $14.01 in Newark.
- Utility expenses are equal in both Radford and Newark averaging $250.