Cost of Living: Troy, MI vs Trenton, NJ
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Troy | Trenton |
|---|---|---|
| Housing Index | 115.0 | 110.0 |
| Median Home Price | $375,000 | $271,000 |
| Average Rent (2 BR Apartment) | $1200 | $2000 |
| Average Rent (2 BR House) | $1280 | $2240 |
Housing Comparison: Troy vs Trenton
- In Troy, the median home price is higher at $375,000, while in Trenton it is $271,000.
- In Trenton, the rental for a two-bedroom apartment stands at $2,000, while it is $1,200 in Troy.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Troy | Trenton |
|---|---|---|
| Electricity Price | $19.88 | $19.88 |
| Natural Gas Price | $15.42 | $14.01 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Troy vs Trenton
- Electricity costs are the same in both Troy and Trenton at $19.88 per kWh.
- Natural gas is more expensive in Troy at $15.42 per unit, while it is cheaper at $14.01 in Trenton.
- Utility expenses are equal in both Troy and Trenton averaging $250.