Cost of living in Newark
Newark, NJ, is a vibrant city known for its rich history and cultural diversity. Understanding the cost of living here is crucial for anyone considering a move or planning to budget effectively.
This guide provides a detailed breakdown of various expenses, including housing, transportation, groceries, and more, to help you make informed financial decisions.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $20 on average, with a range between $6.6 and $55.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $75, with prices ranging from $34 to $250.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10, with a range between $7 and $16.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $2.5 to $11, imported beer $4.5 to $14, cappuccino $3.5 to $8, and Coke/Pepsi $1.5 to $5.
Grocery Prices
- Milk - Milk is priced between $0.53 and $1.59 per liter, averaging $1.33.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.97 and $4.4, with an average price of $4.4.
- Eggs (Dozen) - A dozen eggs range from $1.72 to $5, averaging $3.26.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.2 to $12.13 per kg, while oranges range from $2 to $11 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.1 and $6.61 per kg, and lettuce costs $1.09 to $5.3 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs $6.
- Fuel (Gasoline) - Gasoline is priced between $0.79 and $1.01 per liter.
- Taxi Fares - Taxi fares start at $5, with a cost of $1.55 to $3.26 per km and $30 to $45 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre averages $2300.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $1700.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $3000 to $3600, averaging $3300.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent is $2500.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre averages $5683.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter averages $5683.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $90 and $300, averaging $153.
- Internet - Internet services range from $50 to $85, with an average cost of $69.25.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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Markets
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Transportation
Transportation
Rent Per Month
Rent Per Month
Utilities (Monthly)
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Sports And Leisure
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Clothing And Shoes
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Buy Apartment Price
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Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
Newark offers a diverse range of dining options, from affordable fast food to high-end restaurants.
Grocery prices vary, with some items like milk and bread being relatively affordable, while others like cheese and beef are more expensive.
Transportation costs are moderate, with public transport and fuel prices being reasonable.
Housing in Newark can be costly, especially in the city centre, but options outside the centre are more affordable.
Utilities and internet services are reasonably priced, contributing to the overall cost of living.
Conclusion
In conclusion, Newark presents a mixed cost of living landscape. While dining and transportation are relatively affordable, housing costs can be high, particularly in the city centre.
Prospective residents should consider their budget carefully, especially when it comes to housing and groceries, to ensure a comfortable lifestyle in this dynamic city.