Newark, NY Cost Of Living
Cost Of Living In Newark, NY Summary
Cost of living in Newark research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Newark is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New York, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Newark is 87, with 100 being the average.
The cost of living index in Newark is 0.9x lower than the national average.
Newark ranks as the #17 cheapest in New York out of 340.
Newark ranks as the #1,101 cheapest out of 6,412 in the US.
The median home value in Newark is $103,800.
The median income in Newark is $53,138.
Table Of Contents
Newark's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Newark, NY?
According to the most recent data on the cost of living, Newark has an overall cost of living index of 87, which is 0.9x lower than the national index of 100.
Compared to New York, Newark has a cost of living index that's 0.7x lower than New York's index of 126.
The standard of living in Newark ranks as #17 most affordable out of the 340 places we measured in New York. By definition, that implies Newark ranks as the #323 most expensive place in the Empire State.
For more reading on life in Newark, check out:
- Living In Newark
- Newark Crime Report
- Search Homes For Sale In Newark, NY
In New York
In America
Newark Cost Of Living Vs. New York
Six factors go into calculating the cost of living index in Newark. Here is how it fairs on each of the criteria:
The Services index in Newark is 105.
The Groceries index in Newark is 102.
The Health index in Newark is 100.
The Housing index in Newark is 53.
The Transportation index in Newark is 108.
The Utilities index in Newark is 97.
| Living Expense | Newark | New York | National Average | |
|---|---|---|---|---|
| Overall | 87 | 126 | 100 | |
| Services | 105 | 110 | 100 | |
| Groceries | 102 | 104 | 100 | |
| Health | 100 | 105 | 100 | |
| Housing | 53 | 175 | 100 | |
| Transportation | 108 | 107 | 100 | |
| Utilities | 97 | 102 | 100 | |
Newark, NY Housing Cost Breakdown
Housing swings affordability the most between places in New York, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Newark is $103,800.
The Median Rent in Newark is $840.
The Median Income in Newark is $53,138.
The Home Value To Income in Newark is 2.0x.
The Rent To Monthly Income in Newark is 0.19x.
| Statistic | Newark | New York | United States |
|---|---|---|---|
| Median Home Value | $103,800 | $340,600 | $244,900 |
| Median Rent | $840 | $1,390 | $1,163 |
| Median Income | $53,138 | $75,157 | $69,021 |
| Home Value To Income | 2.0x | 4.5x | 3.5x |
| Rent To Monthly Income | 0.19x | 0.22x | 0.2x |
Median Home Value
Median Rent
Median Income
Newark, NY Costs By Category
Detailed Newark Services Costs Vs. New York
Detailed Newark Groceries Costs Vs. New York
Detailed Newark Health Costs Vs. New York
Detailed Newark Transportation Costs Vs. New York
Detailed Newark Utilities Costs Vs. New York
Newark SnackAbility
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Cost Of Living In Cities Around Newark
The cost of living varies in the cities and towns around Newark. Here's a quick look at the cost of living in the most populous nearby places:
Geneva, NY has a cost of living index of 91, 1.0x Newark.
Canandaigua, NY has a cost of living index of 97, 1.1x Newark.
Seneca Falls, NY has a cost of living index of 89, 1.0x Newark.
| City | Population | Cost Of Living | Vs. Newark |
|---|---|---|---|
| Geneva, NY | 12,577 | 91 | 1.0x |
| Canandaigua, NY | 10,563 | 97 | 1.1x |
| Seneca Falls, NY | 6,700 | 89 | 1.0x |
| Fairport, NY | 5,452 | 100 | 1.1x |
