F
97%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
284%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Newark California National
Cost of living197140100
Goods & Services108111100
Groceries115112100
Health care123109100
Housing384196100
Transportation130126100
Utilities132127100

An Overview of Cost of Living in Newark, CA

Getting a feel for the cost of living in Newark is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Newark is 197, which is 97% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Newark is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Newark falls into this category, which may not be suitable for those seeking an economically favorable living environment.

When it comes to the cost of living in Newark, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 284.1% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

The cost of groceries continues to rise at an alarming rate. Over the last two years, grocery prices have increased by more than 10%! Unfortunately, in Newark, the news isn't any better as grocery prices are 14.5% higher than the national average.

What Do Locals Say About the Cost of Living in Newark?

Nobody knows their city better than the people who actually live there. So, we asked 6 local residents how they would rate the cost of living in Newark and this is how they responded. 17% of people said that the cost of living was affordable, with prices decreasing, while 83% of people said that the cost of living was very expensive and prices continue to rise.

Is Newark Affordable?

Is Newark affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Newark, the median home price is 341.9% higher than the national average and monthly rent prices are 149.3% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Newark boasting a median household income of $127,619, 130.7% higher than the national average.

What Factors can Influence the Cost of Living in Newark?

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Newark, the groceries index is 14.5% higher than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Newark, healthcare costs are 22.6% higher than the national average.

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Where is the Data From?

The Newark cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Newark is 41% higher than the California average
  • The cost of living in Newark is 97% higher than the national average
  • Newark housing is 284% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 56% lower than the national average

Most Affordable Places to Live in and Around Newark

See all the best places to live around Newark

Compare Newark, CA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$145,553$12,129$3,396$4,367
      Renters$100,325$8,360$2,341$3,010
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Newark, CA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Newark homeowners, is $145,553. This would allow for a maximum of $3,396 per month to be spent on housing costs. For renters, the median monthly income is $100,325 which would result in a maximum of $2,341 to be spent on rental costs.

      California Sales Tax

      State General Sales Tax With Max Surtax
      California 7.25% 10.5%

      California Income Tax

      State Income Tax (Low) Income Tax (High)
      California 1% 12.3%

      Goods & Services

      Item Newark National avg. Difference
      Haircut $33.94$24.2639.9%
      Beauty Salon $48.51$45.566.5%
      Toothpaste $3.72$3.700.4%
      Shampoo $1.66$1.2829.9%
      Movie $13.31$12.139.7%
      Bowling $33.30$18.0085.0%

      Groceries

      Item Newark National avg. Difference
      Ground Beef $5.79$5.840.8%
      Fried Chicken $2.13$1.5735.7%
      Milk $5.05$4.678.2%
      Potatoes $4.77$4.933.4%
      Pizza $14.92$12.0923.5%
      Beer $10.99$10.415.6%

      Health Care

      Item Newark National avg. Difference
      Optometrist $158.95$125.6826.5%
      Doctor $194.05$135.7842.9%
      Dentist $147.78$113.2930.4%
      Ibuprofen $11.51$10.658.1%
      Lipitor $390.15$468.6016.7%

      Housing

      Item Newark National avg. Difference
      Home Price $816,100.00$184,700.00341.9%
      Avg. Mortgage Payment $8,581.10$2,346.69265.7%
      Apartment Rent $2,366.00$949.00149.3%

      Transportation

      Item Newark National avg. Difference
      Gasoline $4.81$3.4638.9%
      Tire Balancing $65.62$59.929.5%

      Utilities

      Item Newark National avg. Difference
      All Electricity $294.74$193.9951.9%
      Phone $190.07$192.251.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Mountain View CDP, CA2,58513030.1%
      Cherryland, CA15,97615858.3%
      Ashland, CA23,56616463.8%
      San Lorenzo, CA30,11717171.4%
      San Leandro, CA90,48917271.8%
      Newark, CA48,14819797.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lincoln, CA48,15014948.8%
      Wauwatosa, WI48,1431109.9%
      Sheboygan, WI48,153909.8%
      Victoriaville, QC48,167n/a 
      La Mirada, CA48,26016161.1%
      Newark, CA48,14819797.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.