Cost of Living in Elizabeth, NJ
Population 137,302 · Census ACS 2020–2024 5-year estimates
The median rent in Elizabeth, NJ is $1,523/month, 11% lower than the New Jersey median and 8% higher than the U.S. median. The median home value is $449,300, 35% higher than the national median. Households earn a median of $66,555 a year, 36% lower than the state median.
Affordability
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Elizabeth vs. New Jersey vs. U.S.
| Elizabeth | New Jersey | U.S. | |
|---|---|---|---|
| Median rent | $1,523 | $1,720 | $1,413 |
| Median home value | $449,300 | $454,400 | $332,700 |
| Median household income | $66,555 | $103,556 | $80,734 |
| Homeownership rate | 25.6% | 63.8% | 65.2% |
| Bachelor's degree or higher | 14.6% | 43.6% | 35.7% |
| Poverty rate | 15.7% | 9.7% | 12.5% |
| Unemployment rate | 7.7% | 6.3% | 5.2% |
| Work from home | 6.3% | 16.8% | 15.1% |
| Median age | 35.8 | 40.1 | 38.9 |
FAQ
What is the average rent in Elizabeth, NJ?
The median gross rent in Elizabeth, NJ is $1,523 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Elizabeth, NJ?
Using the common 30% rule, renting a median-priced home takes about $60,920 a year in gross income.
Is Elizabeth, NJ expensive to live in?
Rent there is 8% higher than the U.S. median, and the median home costs about 6.8 times the median household income.
Other cities in New Jersey
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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