Everything else equal, we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Newark might be more expensive than living in rural New Jersey, there are certain neighborhoods that are definitely cheaper.
What exactly are those Newark neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and determine which neighborhoods in Newark are the cheapest using Saturday Night Science.
What’s the cheapest neighborhood to live in Newark for 2024? According to the most recent census data, Dayton-Weequahic Park looks to be the cheapest Newark neighborhood to live in.
At this point, we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Newark. You could be sacrificing location or crime rates for more space and cheaper groceries.
Read on to see how we determined the places around Newark that deserve a little bragging rights, or maybe you’re interested in the worst neighborhoods in Newark.
For more New Jersey reading, check out:
- Best Places To Live In New Jersey
- Cheapest Places To Live In New Jersey
- Cheapest Cities To Live In America
- Cheapest States To Live In America
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Cheapest Neighborhoods To Live In Newark For 2024
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Population: 2,788
Cost Of Living Index: 91 (2nd cheapest)
Home Value To Income Ratio: 3.7 (4th cheapest)
Rent To Income Ratio: 0.02 (cheapest)
More on Dayton-Weequahic Park: Data | Real Estate
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Population: 5,389
Cost Of Living Index: 100 (4th cheapest)
Home Value To Income Ratio: 3.0 (2nd cheapest)
Rent To Income Ratio: 0.021 (3rd cheapest)
More on Central Business District: Data | Real Estate
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Population: 12,462
Cost Of Living Index: 91 (2nd cheapest)
Home Value To Income Ratio: 3.0 (cheapest)
Rent To Income Ratio: 0.027 (12th cheapest)
More on Springfield-Belmont: Data | Real Estate
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Population: 17,181
Cost Of Living Index: 106 (13th cheapest)
Home Value To Income Ratio: 3.7 (3rd cheapest)
Rent To Income Ratio: 0.02 (2nd cheapest)
More on Lower Vailsburg: Data | Real Estate
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Population: 9,646
Cost Of Living Index: 102 (7th cheapest)
Home Value To Income Ratio: 4.0 (6th cheapest)
Rent To Income Ratio: 0.025 (6th cheapest)
More on University Heights: Data | Real Estate
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Population: 2,585
Cost Of Living Index: 100 (4th cheapest)
Home Value To Income Ratio: 4.1 (7th cheapest)
Rent To Income Ratio: 0.027 (11th cheapest)
More on Lower Clinton Hill: Data | Real Estate
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Population: 11,776
Cost Of Living Index: 97 (3rd cheapest)
Home Value To Income Ratio: 3.8 (5th cheapest)
Rent To Income Ratio: 0.03 (15th cheapest)
More on South Broad Street: Data | Real Estate
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Population: 16,780
Cost Of Living Index: 106 (13th cheapest)
Home Value To Income Ratio: 4.6 (8th cheapest)
Rent To Income Ratio: 0.022 (4th cheapest)
More on Upper Vailsburg: Data | Real Estate
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Population: 7,187
Cost Of Living Index: 103 (9th cheapest)
Home Value To Income Ratio: 4.9 (12th cheapest)
Rent To Income Ratio: 0.026 (7th cheapest)
More on Mount Pleasant: Data | Real Estate
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Population: 9,940
Cost Of Living Index: 101 (6th cheapest)
Home Value To Income Ratio: 4.6 (9th cheapest)
Rent To Income Ratio: 0.03 (18th cheapest)
More on Lower Roseville: Data | Real Estate
Methodology: How We Determined The Cheapest Newark Hoods In 2024
To rank the cheapest places to live in Newark, we had to determine what criteria define “cheap” and then apply Saturday Night Science.
Using Census and extrapolated BLS data, we arrived at the following set of criteria:
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 20 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index, the “Cheapest City Neighborhood In Newark.” We’re lookin’ at you, Dayton-Weequahic Park.
We updated this article for 2024. This is our fourth time ranking the cheapest neighborhoods to live in Newark. Skip to the end to see the list of all the neighborhoods in the city, from cheapest to most expensive.
Summary: Lowest Cost Places To Live In Newark
If you’re measuring the neighborhoods in Newark where prices are low, and it’s cheap to live, this is an accurate list.
The most affordable neighborhoods in Newark are Dayton-Weequahic Park, Central Business District, Springfield-Belmont, Lower Vailsburg, University Heights, Lower Clinton Hill, South Broad Street, Upper Vailsburg, Mount Pleasant, and Lower Roseville.
As mentioned earlier, the neighborhoods in Newark aren’t all cheap. North Broadway takes the title of the most expensive neighborhood to live in Newark.
The most expensive neighborhoods in Newark are North Broadway, Upper Clinton Hill, Forest Hill, South Ironbound, and Fairmuont.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more New Jersey reading, check out:
- Most Dangerous Cities In New Jersey
- Richest Cities In New Jersey
- Safest Places In New Jersey
- Worst Places To Live In New Jersey
Detailed List Of The Cheapest Neighborhoods To Live In Newark For 2024
| Rank | Neighborhood | Cost Of Living Index |
|---|---|---|
| 1 | Dayton-Weequahic Park | 91 |
| 2 | Central Business District | 100 |
| 3 | Springfield-Belmont | 91 |
| 4 | Lower Vailsburg | 106 |
| 5 | University Heights | 102 |
| 6 | Lower Clinton Hill | 100 |
| 7 | South Broad Street | 97 |
| 8 | Upper Vailsburg | 106 |
| 9 | Mount Pleasant | 103 |
| 10 | Lower Roseville | 101 |
| 11 | Seventh Avenue | 103 |
| 12 | North Ironbound | 111 |
| 13 | Weequahic | 108 |
| 14 | Upper Roseville | 110 |
| 15 | West Side | 103 |
| 16 | Fairmuont | 104 |
| 17 | South Ironbound | 117 |
| 18 | Forest Hill | 109 |
| 19 | Upper Clinton Hill | 106 |
| 20 | North Broadway | 111 |