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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Premium market, smart picks: while New Jersey trends above the national average, the gap between the most and least expensive cities here is wider than you'd think. Jersey at index 139 is the standout — offering meaningful savings without leaving New Jersey.
#1 Ranked: Jersey — cost index 139, rent $3,048/mo, income $94,813
$927/mo rent gap across the ranking
0 of 4 cities come in below the national cost-of-living average of 112
Data sourced from Census Bureau, Zillow, BLS, and Tax Foundation — current as of 2026
Premium market, smart picks: while New Jersey trends above the national average, the gap between the most and least expensive cities here is wider than you'd think. Jersey at index 139 is the standout — offering meaningful savings without leaving New Jersey.
Value = income ÷ cost index. And for many people, the national benchmark ratio is 718. Jersey delivers 682 — -5% more purchasing power per dollar earned. This metric catches cities that expensive-but-high-paying rankings miss: a $90K salary in a city with index 80 — not a number you see very often, by the way — buys more than $120K in a city with index 150 (your mileage may vary — literally). The definition of value.
Here's Jersey by the numbers — and there's a lot to like. Cost index: 139. Rent: $3,048/month — which, honestly, is lower than you'd expect here — . Income: $94,813/year. Home price: $653,810. Population: 291,657. The strongest category is Utilities at 128; the most expensive is Housing at 197. Translate that rent to annual numbers, and residents are costing renters $13,836 more per year vs. Not the most exciting stat, but it matters. the national median. For freelancers and gig workers with variable income, this cushion is everything.
The numbers say yes. Your lifestyle might say not so fast. In Jersey, the housing index sits at 197 — above average and worth factoring in.
$927/mo — worth pausing on — rent gap across the ranking. Rent ranges from $3,048/mo in Jersey to $2,121/mo in Newark — a monthly difference of $927, or $11,124 per year.
What to do with this data: use the ranking as a shortlist, then dig into the city profiles for trend lines and category breakdowns. The difference between #1 and #5 is often smaller than the difference between "good on paper" and "actually fits my life." Compare your top picks with our calculator to see real take-home numbers.
291,657 residents · New Jersey
Here's Jersey by the numbers — and there's a lot to like. Cost index: 139. Rent: $3,048/month — for better or worse — . Income: $94,813/year. Home price: $653,810. Population: 291,657. The strongest category is Utilities at 128; the most expensive is Housing at 197. Translate that rent to annual numbers, and residents are costing renters $13,836 more per year vs. the national median. That's a strong position by any measure (and that gap widens if you factor in state taxes).
135,829 residents · New Jersey
Here's Elizabeth by the numbers — and there's a lot to like. Cost index: 121. Rent: $2,293/month. Income: $63,874/year. Home price: $533,247. Population: 135,829. The strongest category is Utilities at 111; the most expensive is Housing at 153. Translate that rent to annual numbers, and residents are costing renters $4,776 more per year vs. the national median. On a fixed income, this is the metric that matters most.
156,452 residents · New Jersey
Paterson comes in at #3. Rent is $2,088 — whether that matters depends on your situation — a month. Household income is $53,766. The cost of living index is 118. About what you'd guess.
304,960 residents · New Jersey
Dive into Newark's numbers: cost index 116 (4 points above national average), rent $2,121/month, income $48,416, and a home price of $474,178. The city's cost profile isn't flat — Utilities is the cheapest category at 106, while Housing runs 139. With 304,960 residents, it balances mid-size city convenience with manageable costs (that's pre-tax, of course).
Value ratio = median household income ÷ cost of living index. A higher ratio means each dollar of income buys more locally. This captures purchasing power better than looking at income or cost alone. All data is sourced from federal agencies and verified research institutions. Cost of living indices are normalized to 100 (national median) using Zillow rent as the primary signal, with sub-category adjustments derived from regional BLS price data. Rankings are updated monthly as new data is released.
Jersey ranks #1 in New Jersey for this analysis with a cost index of 139 and median income of $94,813.
Our cost of living index uses real Zillow rent data as the foundation, indexed to 100 (national median). Sub-categories (housing, food, transport, utilities, healthcare) are derived from the overall index with regional adjustments. Data is updated monthly.
Jersey (ranked #1) has a cost index of 139 and rent of $3,048/mo, while Newark (ranked #4) has a cost index of 116 and rent of $2,121/mo — a 23-point difference in cost of living.
City data is refreshed monthly from Census Bureau population estimates, Zillow rent and home price indices, BLS salary data, and Tax Foundation tax rates. Last updated: 2026.
The median 1-bedroom rent in Jersey is $3,048/month as of 2026, based on Zillow's Observed Rent Index. This is $1,153 above the national median of $1,895/month.
The median home price in Jersey is $653,810, which is 6.9× the local median income. Most median-income households would stretch to buy at this ratio. The national median home price is $467,370.
New Jersey has a 10.75% state income tax rate. Combined state and local sales tax averages 6.625%, and the effective property tax rate is 2.08%.
This ranking was generated using data current as of early 2026. Population and income data comes from the Census Bureau's American Community Survey (5-year estimates). Rent and home price data is from Zillow's monthly releases. Tax rates are from the Tax Foundation's 2025 edition. Rankings are refreshed monthly.