Median rent is 44% lower in Newark ($1,330/mo vs $2,395/mo). Buying is cheaper in Newark, where the median home runs $337,800 versus $618,500. Households earn more in New City ($174,479 vs $48,416 a year). Overall, the two cities have a nearly identical cost of living index (113.0).
City A
New City, NY
City B
Newark, NJ
How much would you need to earn in Newark, NJ to maintain your standard of living from New City, NY?
Equivalent salary in Newark, NJ
$75,000
Costs are about the same in both cities.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
New City
New York
Newark
New Jersey
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Newark — median rent of $1,330/mo versus $2,395/mo in New City, a 44% difference. Home buyers face a steeper market in New City: the median home is $618,500 versus $337,800 in Newark — 45% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
New York's top income tax rate is 10.90% versus 10.75% in New Jersey, so Newark is more tax-friendly for high earners. Sales tax is 4.00% in New York and 6.63% in New Jersey; New City has the lower rate (local add-ons may apply in both).
New City
Income tax: 10.90%
Sales tax: 4.00%
Newark
Income tax: 10.75%
Sales tax: 6.63%
Air quality data is available for Newark (avg AQI 61.0) but not yet for New City.
Pick New City if you prioritize higher median household income ($174,479/yr).
Pick Newark if you prioritize cheaper rent ($1,330/mo median).
Pick Newark if you prioritize lower state income tax (10.75%).
Is New City cheaper than Newark?
New City is cheaper overall, with a cost of living index of 113.0 versus 113.0 (US average = 100). That means prices run about 0% lower in New City.
How much is rent in New City vs Newark?
Median rent is $2,395/mo in New City, NY and $1,330/mo in Newark, NJ. Newark, NJ has the lower rent by about 44%.
Which has higher salaries — New City or Newark?
Median household income is $174,479 in New City, NY and $48,416 in Newark, NJ. New City, NY has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — New City or Newark?
New York's top income tax rate is 10.90% and New Jersey's is 10.75%. Newark, NJ has the lower rate.
What salary do I need in Newark to match my New City income?
To maintain the same purchasing power, a salary of $100,000 in New City, NY is equivalent to roughly $100,000 in Newark, NJ (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology