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Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I'd much rather pay $500/mo in rent than $1,000. And I'd rather pay $2 for coffee than $5.
And while every neighbhorhood in Newark might be more expensive than living in rural New Jersey, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Newark neighborhoods where your dollar goes a little further -- you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Newark are the cheapest.
The Cheapest Neighborhoods In Newark For 2022
What's the cheapest neighborhood to live in Newark for 2022? According to the most recent census data, Dayton-Weequahic Park looks to be the cheaptest Newark neighborhood to live in.
At this point we should make it clear that you do get what you pay for -- some of these neighborhoods might not be the best places to live in Newark. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Newark that deserve a little bragging rights or maybe you're interested in the worst neighborhoods in Newark.
Once you're done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more New Jersey reading, check out:
- Best Places To Live In New Jersey
- Cheapest Places To Live In New Jersey
- Cheapest Cities To Live In America
- Cheapest States To Live In America
The 10 Cheapest Neighborhoods To Live In Newark For 2022
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Population: 2,788
Cost Of Living Index: 92 (2nd cheapest)
Home Value To Income Ratio: 3.7 (4th cheapest)
Rent To Income Ratio: 0.02 (cheapest)
More on Dayton-Weequahic Park: Homes For Sale | Data
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Population: 5,389
Cost Of Living Index: 98 (4th cheapest)
Home Value To Income Ratio: 3.0 (2nd cheapest)
Rent To Income Ratio: 0.021 (3rd cheapest)
More on Central Business District: Homes For Sale | Data
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Population: 12,462
Cost Of Living Index: 92 (2nd cheapest)
Home Value To Income Ratio: 3.0 (cheapest)
Rent To Income Ratio: 0.027 (12th cheapest)
More on Springfield-Belmont: Homes For Sale | Data
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Population: 17,181
Cost Of Living Index: 108 (14th cheapest)
Home Value To Income Ratio: 3.7 (3rd cheapest)
Rent To Income Ratio: 0.02 (2nd cheapest)
More on Lower Vailsburg: Homes For Sale | Data
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Population: 9,646
Cost Of Living Index: 103 (8th cheapest)
Home Value To Income Ratio: 4.0 (6th cheapest)
Rent To Income Ratio: 0.025 (6th cheapest)
More on University Heights: Homes For Sale | Data
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Population: 11,776
Cost Of Living Index: 98 (4th cheapest)
Home Value To Income Ratio: 3.8 (5th cheapest)
Rent To Income Ratio: 0.03 (16th cheapest)
More on South Broad Street: Homes For Sale | Data
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Population: 2,585
Cost Of Living Index: 101 (6th cheapest)
Home Value To Income Ratio: 4.1 (8th cheapest)
Rent To Income Ratio: 0.027 (11th cheapest)
More on Lower Clinton Hill: Homes For Sale | Data
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Population: 14,689
Cost Of Living Index: 109 (16th cheapest)
Home Value To Income Ratio: 4.0 (7th cheapest)
Rent To Income Ratio: 0.024 (5th cheapest)
More on Upper Vailsburg: Homes For Sale | Data
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Population: 20,878
Cost Of Living Index: 106 (12th cheapest)
Home Value To Income Ratio: 4.7 (11th cheapest)
Rent To Income Ratio: 0.026 (7th cheapest)
More on Weequahic: Homes For Sale | Data
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Population: 7,187
Cost Of Living Index: 105 (10th cheapest)
Home Value To Income Ratio: 4.9 (14th cheapest)
Rent To Income Ratio: 0.026 (8th cheapest)
More on Mount Pleasant: Homes For Sale | Data
Methodology: How We Determined The Cheapest Newark Hoods In 2022
In order to rank the cheapest places to live in Newark, we had to determine what criteria defines "cheap".
Using census and extrapolated BLS data, we arrived at the following set of criteria:
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 20 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the "Cheapest City Neighborhood In Newark." We're lookin' at you, Dayton-Weequahic Park.
Read on below to learn more about what it's like to live in the cheapest places Newark. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
Summary: Lowest Cost Places To Live In Newark
If you're measuring the neighborhoods in Newark where prices are low and it's cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Newark aren't all cheap. North Broadway takes the title of the most expensive neighborhood to live in Newark.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more New Jersey reading, check out:
- Most Dangerous Cities In New Jersey
- Richest Cities In New Jersey
- Safest Places In New Jersey
- Worst Places To Live In New Jersey
Detailed List Of The Cheapest Neighborhoods To Live In Newark For 2022
| Rank | Neighborhood | Cost Of Living Index |
|---|---|---|
| 1 | Dayton-Weequahic Park | 92 |
| 2 | Central Business District | 98 |
| 3 | Springfield-Belmont | 92 |
| 4 | Lower Vailsburg | 108 |
| 5 | University Heights | 103 |
| 6 | South Broad Street | 98 |
| 7 | Lower Clinton Hill | 101 |
| 8 | Upper Vailsburg | 109 |
| 9 | Weequahic | 106 |
| 10 | Mount Pleasant | 105 |
| 11 | Lower Roseville | 99 |
| 12 | North Ironbound | 110 |
| 13 | Upper Clinton Hill | 107 |
| 14 | Seventh Avenue | 104 |
| 15 | West Side | 101 |
| 16 | Upper Roseville | 110 |
| 17 | Fairmuont | 106 |
| 18 | South Ironbound | 118 |
| 19 | Forest Hill | 109 |
| 20 | North Broadway | 109 |
