| Index | Elizabeth | New Jersey | National |
| Cost of living | 126 | 125 | 100 |
| Groceries | 111 | 108 | 100 |
| Health care | 111 | 112 | 100 |
| Housing | 153 | 157 | 100 |
| Transportation | 118 | 114 | 100 |
| Utilities | 117 | 111 | 100 |
| Lifestyle & Entertainment | 115 | 113 | 100 |
| Household Items | 108 | 107 | 100 |
| Education & Childcare | 126 | 120 | 100 |
Knowing the cost of living in Elizabeth allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Elizabeth stands at 126, marking it 26% higher than the national average.
If you prioritize affordability when seeking a new place to live, Elizabeth may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Elizabeth falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs significantly influence the Elizabeth cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 53.3%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Elizabeth, it's the same story – grocery costs are 10.9% higher than what people pay across the country.
Is Elizabeth affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Elizabeth, for instance, where the median home price falls 64.9% higher than the national average, and monthly rent rates are 26.4% higher than usual. Additionally, median income levels contribute to the equation, with Elizabeth flaunting a median household income of $75,879, 6.7% lower than the national norm.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Elizabeth, the groceries index is 10.9% higher than the national average.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Elizabeth, the transportation index is 18.2% higher than the national average.
The cost of living data for Elizabeth shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $123,377 | $10,281 | $2,879 | $3,702 |
| Renters | $61,974 | $5,165 | $1,446 | $1,859 |
| State | General Sales Tax | With Max Surtax |
| New Jersey | 6.625% | 12.625% |
| State | Income Tax (Low) | Income Tax (High) |
| New Jersey | 1.4% | 10.75% |
| City | Population | Cost of Living Index | National Avg. |
| East Orange, NJ | 66,655 | 115 | 15.1% |
| Roselle, NJ | 22,321 | 116 | 15.7% |
| Silver Lake CDP (Warren County), NJ | 326 | 117 | 17.3% |
| Newark, NJ | 290,764 | 120 | 19.8% |
| Plainfield, NJ | 51,295 | 122 | 21.5% |
| Elizabeth, NJ | 131,890 | 126 | 26.3% |
| City | Population | Cost of Living Index | National Avg. |
| Langley, BC | 132,088 | n/a | |
| Kingston, ON | 132,155 | n/a | |
| Lafayette, LA | 131,168 | 99 | 0.6% |
| Thousand Oaks, CA | 131,108 | 190 | 90.3% |
| Concord, CA | 133,378 | 166 | 66.5% |
| Elizabeth, NJ | 131,890 | 126 | 26.3% |
Here are the best places to live in New Jersey
See the best places to live in Elizabeth
Most Dangerous Cities In The US
Check out the 10 most dangerous cities in New Jersey