Cost of Living in Elizabeth, NJ
Population: 135,887 • 2026 Data
$63,874
Median Household Income
-17% vs national
$1,463
Median Monthly Rent
+9% vs national
$393,500
Median Home Value
+16% vs national
6.9%
Unemployment Rate
Housing in Elizabeth
The median home value in Elizabeth, NJ is $393,500. Monthly rent for a typical unit averages $1,463, while total monthly housing costs (including utilities and insurance) average $1,543.
Rent-to-income ratio: 27.5%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Elizabeth, NJ is $63,874. The unemployment rate stands at 6.9%, with a labor force of 70,652 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.