Cost of Living in Elizabeth, NJ
Elizabeth has a cost of living index of 115 (100 = national average), making it more expensive than the national average. The median household income is $42,735 and the median home price is $420,000.
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Elizabeth at a Glance
Population
137,298
Cost of Living Index
115
Median Income
$42,735
Median Home Price
$420,000
Property Tax Rate
2.75%
Sales Tax Rate
6.63%
Rent Index
108
State
New Jersey
Living in Elizabeth
Elizabeth has a cost of living slightly above the national average. While housing at $420,000 is a significant expense, the area offers a balance between cost and quality of life.
The combined sales tax rate in Elizabeth is 6.63%, and the effective property tax rate is 2.75%. Property taxes are above the national average, which is an important consideration for homebuyers.