Median rent is 24% lower in Newark ($1,392/mo vs $1,821/mo). Buying is cheaper in Newark, where the median home runs $373,700 versus $777,600. Households earn more in New York ($80,483 vs $52,060 a year). Overall, the two cities have a nearly identical cost of living index (112.6).
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 metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
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: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Newark — median rent of $1,392/mo versus $1,821/mo in New York, a 24% difference. Home buyers face a steeper market in New York: the median home is $777,600 versus $373,700 in Newark — 52% more expensive.
Metric
New York
Newark
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
New York
Income tax: N/A
Sales tax: N/A
Newark
Income tax: N/A
Sales tax: N/A
Both cities have similar air quality: New York averages 46.0 AQI (Good) and Newark averages 46.0 AQI (Good).
Pick New York if you prioritize higher median household income ($80,483/yr).
Pick Newark if you prioritize cheaper rent ($1,392/mo median).
New York is cheaper overall, with a cost of living index of 112.6 versus 112.6 (US average = 100). That means prices run about 0% lower in New York.
Median rent is $1,821/mo in New York, NY and $1,392/mo in Newark, NJ. Newark, NJ has the lower rent by about 24%.
Median household income is $80,483 in New York, NY and $52,060 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.
Newark, NJ has better air quality on average: 46.0 AQI versus 46.0 AQI. Both are EPA AirNow annual averages; lower is better.
State tax data is not yet available for one or both cities.
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: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
