Elizabeth, NJ Cost Of Living
Cost Of Living In Elizabeth, NJ Summary
Cost of living in Elizabeth research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Elizabeth is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Jersey, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Elizabeth is 120, with 100 being the average.
The cost of living index in Elizabeth is 1.2x higher than the national average.
Elizabeth ranks as the #87 cheapest in New Jersey out of 260.
Elizabeth ranks as the #4,411 cheapest out of 6,489 in the US.
The median home value in Elizabeth is $546,782.
The median income in Elizabeth is $63,874.
Table Of Contents
Elizabeth's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Elizabeth, NJ?
According to the most recent data on the cost of living, Elizabeth has an overall cost of living index of 120, which is 1.2x higher than the national index of 100.
Compared to New Jersey, Elizabeth has a cost of living index that's 1.0x lower than New Jersey's index of 122.
The standard of living in Elizabeth ranks as #87 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Elizabeth ranks as the #173 most expensive place in the Garden State.
For more reading on life in Elizabeth, check out:
In New Jersey
In America
Elizabeth Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Elizabeth. Here is how it fairs on each of the criteria:
The Services index in Elizabeth is 108.
The Groceries index in Elizabeth is 103.
The Health index in Elizabeth is 97.
The Housing index in Elizabeth is 147.
The Transportation index in Elizabeth is 106.
The Utilities index in Elizabeth is 113.
| Living Expense | Elizabeth | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 120 | 122 | 100 | |
| Services | 108 | 108 | 100 | |
| Groceries | 103 | 104 | 100 | |
| Health | 97 | 99 | 100 | |
| Housing | 147 | 159 | 100 | |
| Transportation | 106 | 101 | 100 | |
| Utilities | 113 | 107 | 100 | |
Elizabeth, NJ Housing Cost Breakdown
Housing swings affordability the most between places in New Jersey, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Elizabeth is $546,782.
The Median Rent in Elizabeth is $1,463.
The Median Income in Elizabeth is $63,874.
The Home Value To Income in Elizabeth is 8.6x.
The Rent To Monthly Income in Elizabeth is 0.27x.
| Statistic | Elizabeth | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $546,782 | $564,432 | $303,400 |
| Median Rent | $1,463 | $1,653 | $1,348 |
| Median Income | $63,874 | $101,050 | $78,538 |
| Home Value To Income | 8.6x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.27x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Elizabeth, NJ Costs By Category
Detailed Elizabeth Services Costs Vs. New Jersey
| Item | Elizabeth | New Jersey |
|---|---|---|
| Shampoo | $1.48 | $1.28 |
| Movie | $15.78 | $12.13 |
| Bowling | $21.0 | $18 |
| Haircut | $25.62 | $24.26 |
| Beauty Salon | $41.67 | $45.56 |
Detailed Elizabeth Groceries Costs Vs. New Jersey
| Item | Elizabeth | New Jersey |
|---|---|---|
| Ground Beef | $5.65 | $5.84 |
| Fried Chicken | $1.39 | $1.57 |
| Milk | $4.71 | $4.67 |
| Potatoes | $5.37 | $4.93 |
| Pizza | $11.49 | $12.09 |
| Beer | $11.33 | $10.41 |
| Toothpaste | $3.72 | $3.7 |
Detailed Elizabeth Health Costs Vs. New Jersey
| Item | Elizabeth | New Jersey |
|---|---|---|
| Optometrist | $157.11 | $125.68 |
| Doctor | $115.59 | $135.78 |
| Dentist | $124.27 | $113.29 |
Detailed Elizabeth Transportation Costs Vs. New Jersey
| Item | Elizabeth | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $82.67 | $59.92 |
Detailed Elizabeth Utilities Costs Vs. New Jersey
| Item | Elizabeth | New Jersey |
|---|---|---|
| All Electricity | $236.04 | $193.99 |
| Phone | $186.61 | $192.25 |
Elizabeth SnackAbility
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Cost Of Living In Cities Around Elizabeth
The cost of living varies in the cities and towns around Elizabeth. Here's a quick look at the cost of living in the most populous nearby places:
Newark, NJ has a cost of living index of 112, 0.9x Elizabeth.
Linden, NJ has a cost of living index of 119, 1.0x Elizabeth.
Westfield, NJ has a cost of living index of 178, 1.5x Elizabeth.
| City | Population | Cost Of Living | Vs. Elizabeth |
|---|---|---|---|
| Newark, NJ | 307,188 | 112 | 0.9x |
| Linden, NJ | 43,614 | 119 | 1.0x |
| Westfield, NJ | 30,760 | 178 | 1.5x |
| Rahway, NJ | 29,748 | 116 | 1.0x |
| Carteret, NJ | 25,187 | 123 | 1.0x |
| Roselle, NJ | 22,455 | 111 | 0.9x |
| Harrison, NJ | 19,599 | 126 | 1.1x |
| Middlesex, NJ | 14,518 | 126 | 1.1x |
| Roselle Park, NJ | 13,965 | 122 | 1.0x |
| Florham Park, NJ | 13,134 | 165 | 1.4x |
