Cost of Living in Newark, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
123.3
100 = national avg
+23.3 vs national average
Living Wage (1 Adult)
$54,244
per year
Living Wage (Family of 4)
$128,213
per year
Cost Index by Category
Housing178.0
Food87.0
Transportation113.9
Healthcare89.6
Utilities107.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,822
per month
2 Bedroom
$2,205
per month
The overall cost of living index in Newark is 123.3, which is 23.3% above the national average. Housing costs are above the national average at an index of 178.0. A single adult needs to earn approximately $54,244 per year to cover basic expenses.