Median rent is 25% lower in Newark ($1,330/mo vs $1,779/mo). Buying is cheaper in Newark, where the median home runs $337,800 versus $751,700. Households earn more in New York ($79,713 vs $48,416 a year). Overall, the two cities have a nearly identical cost of living index (113.0).
City A
New York, NY
City B
Newark, NJ
How much would you need to earn in Newark, NJ to maintain your standard of living from New York, 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 York
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 $1,779/mo in New York, a 25% difference. Home buyers face a steeper market in New York: the median home is $751,700 versus $337,800 in Newark — 55% 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 York has the lower rate (local add-ons may apply in both).
New York
Income tax: 10.90%
Sales tax: 4.00%
Newark
Income tax: 10.75%
Sales tax: 6.63%
Both cities have similar air quality: New York averages 61.0 AQI (Moderate) and Newark averages 61.0 AQI (Moderate).
Pick New York if you prioritize higher median household income ($79,713/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 York cheaper than Newark?
New York 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 York.
How much is rent in New York vs Newark?
Median rent is $1,779/mo in New York, NY and $1,330/mo in Newark, NJ. Newark, NJ has the lower rent by about 25%.
Which has higher salaries — New York or Newark?
Median household income is $79,713 in New York, NY and $48,416 in Newark, NJ. New York, 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?
Newark, NJ has better air quality on average: 61.0 AQI versus 61.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — New York 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 York income?
To maintain the same purchasing power, a salary of $100,000 in New York, 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