F
Overall 18%
Goods & Services 15%
Housing 33%
Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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.
IndexElizabethNew JerseyNational
Cost of living118123100
Goods & Services115111100
Groceries110110100
Health care97102100
Housing133158100
Transportation112110100
Utilities105100100

Key findings

  • The cost of living in Elizabeth is 5% lower than the New Jersey average
  • The cost of living in Elizabeth is 18% higher than the national average
  • Elizabeth housing is 33% higher than the national average
  • New Jersey general sales tax is 30% higher than the national average
  • New Jersey state income tax is 43% lower than the national average

Most Affordable Places to Live in and Around Elizabeth

See all the best places to live around Elizabeth

Compare Elizabeth, NJ Cost of Living

      vs
      How would you rate the cost of living in Elizabeth?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Elizabeth?
      Write a review to give others more information about this area.
      See all Elizabeth poll results

      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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$72,778$6,065$1,698$2,184
      Renters$38,013$3,168$887$1,141
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Elizabeth, NJ, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Elizabeth, homeowners have a median income of $72,778. Using that number, a maximum of $1,698 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $38,013, which means there is a maximum of $887 to be spent on the costs of renting a home or apartment.

      New Jersey Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      New Jersey6.625%12.625%

      New Jersey Income Tax

      StateIncome Tax (Low)Income Tax (High)
      New Jersey1.4%10.75%

      Goods & Services

      ItemElizabethNational avg.Difference
      Haircut $20.60$17.4917.8%
      Beauty Salon $38.40$38.170.6%
      Toothpaste $2.01$2.3213.4%
      Shampoo $0.99$1.012.2%
      Movie $12.98$10.7221.0%
      Bowling $18.00$13.8629.9%

      Groceries

      ItemElizabethNational avg.Difference
      Ground Beef $4.11$3.905.4%
      Fried Chicken $1.66$1.4018.9%
      Milk $2.15$1.969.6%
      Potatoes $3.39$3.186.5%
      Pizza $11.99$10.3915.4%
      Beer $9.19$9.230.4%

      Health Care

      ItemElizabethNational avg.Difference
      Optometrist $106.00$106.340.3%
      Doctor $91.00$115.2521.0%
      Dentist $102.00$98.383.7%
      Ibuprofen $8.51$9.268.1%
      Lipitor $532.99$466.4714.3%

      Housing

      ItemElizabethNational avg.Difference
      Home Price $262,300.00$184,700.0042.0%
      Avg. Mortgage Payment $2,067.45$1,273.3262.4%
      Apartment Rent $1,074.00$949.0013.2%

      Transportation

      ItemElizabethNational avg.Difference
      Gasoline $2.75$2.595.9%
      Tire Balancing $61.40$48.9025.6%

      Utilities

      ItemElizabethNational avg.Difference
      All Electricity$186.95$167.6011.5%
      Phone $177.03$163.428.3%
      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, StatePopulationCost of Living IndexNational Avg.
      East Orange, NJ64,62111111%
      Roselle, NJ21,50711111%
      Newark, NJ280,13911212%
      Silver Lake, NJ4,00711414%
      Plainfield, NJ50,57811515%
      Elizabeth, NJ128,04211818%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Midland, TX128,0511055%
      Roseville, CA128,27613333%
      Coral Springs, FL127,67311717%
      Denton, TX128,42192-8%
      Surprise, AZ127,4921022%
      Elizabeth, NJ128,04211818%
      Source: The Elizabeth, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.