Cost of Living in Elizabeth, NJ
Housing
The housing market plays a significant role in determining the cost of living in Elizabeth, NJ.
- Housing Index: 125.0 / 100
- Median Home Price is: $293,000
- Average Rent (2 BR Apartment): $2400 per month
- Average Rent (2 BR House): $2400 per month
Considering a move to Elizabeth, NJ? The housing index stands at 125.0, indicating that the cost of living may be above the national average, making ownership potentially more challenging. A median home price of 293000 suggests homeownership is attainable but requires careful financial planning. Additionally, renting either a two-bedroom apartment or house averages 2400, which can strain a budget. With a steady demand for housing, professionals relocating might find their choices limited. It's essential to weigh these factors and closely analyze your financial readiness when considering making this important move.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Elizabeth, NJ.
- Electricity Price: $19.88 USD (median by state)
- Natural Gas Price: $14.01 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Elizabeth, NJ could entail higher utility costs. Electricity costs sit at $19.88, while natural gas is priced at $14.01 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Elizabeth is a financially viable option for your relocation.