Enviroment factors

Air quality:
2.02
Average air quality index for the past year
Poor air:
85/365
Total amount of days with bad air quality
Water Quality:

Cost of Living in Newark, NJ

Housing

The housing market plays a significant role in determining the cost of living in Newark, NJ.

  • Housing Index: 130.5 / 100
  • Median Home Price is: $327000
  • Average Rent (2 BR Apartment): $2200 per month
  • Average Rent (2 BR House): $2267 per month

Considering a move to Newark, NJ? With a housing index of 130.5, affordability may be a concern. The median home price stands at 327000, which is relatively high compared to national averages, indicating a competitive market. Renting may be a viable option, with the average rent for a 2-bedroom apartment at 2200 and a 2-bedroom house at 2267. Analyze your budget and weigh the pros and cons of buying versus renting, especially if you're looking for long-term stability in this bustling market.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Newark, 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 Newark, 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

  • Index score: 115.8

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

  • Median Income: $46460

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

Summary

When considering a move to Newark, NJ, consider the following factors:

  • Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
  • Job opportunities: The availability of jobs in your field can affect your quality of life.
  • Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.
Pros
  1. Community events and festivals
  2. Rich cultural institutions
  3. Diverse population
  4. Vibrant nightlife scene
  5. Local parks and recreation
  6. Public transportation access
  7. Proximity to NYC
  8. Growing job market
  9. Affordable housing options
  10. Good food options
Cons
  1. Public services can lag
  2. Air quality concerns
  3. Some areas have poverty
  4. Gentrification impacts neighborhoods
  5. High crime rates
  6. Traffic congestion issues
  7. Schools need improvement
  8. Perceived racism issues
  9. Limited family activities
  10. Political tensions present