Cost of Living in Newark, NJ
Population: 307,188 • 2026 Data
$48,416
Median Household Income
-37% vs national
$1,330
Median Monthly Rent
-1% vs national
$337,800
Median Home Value
+0% vs national
10.9%
Unemployment Rate
Housing in Newark
The median home value in Newark, NJ is $337,800. Monthly rent for a typical unit averages $1,330, while total monthly housing costs (including utilities and insurance) average $1,419.
Rent-to-income ratio: 33.0%. This exceeds the recommended 30% threshold, indicating housing costs may be a burden for median-income households.
Income and Employment
The median household income in Newark, NJ is $48,416. The unemployment rate stands at 10.9%, with a labor force of 148,640 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.