New York vs New Jersey: cost of living
New York is the cheaper state of the two, with an overall price level of 107.6 versus 108.8 for New Jersey (BEA Regional Price Parity, US = 100) — so New Jersey is about 1.1% more expensive. New York's median household income is $82,095 versus $99,781 in New Jersey, and median rent is $1,634 versus $1,800 a month. To keep a $100,000 standard of living moving from New York to New Jersey you'd need about $101,115.
Source: BEA Regional Price Parities (RPP), all items. Data as of June 2026.
New York vs New Jersey side by side
| Indicator | New York | New Jersey |
|---|---|---|
| Price level (BEA RPP, US=100) | 107.6 | 108.8 |
| Price vs US average | +7.6% | +8.8% |
| Median household income (ACS 2023) | $82,095 | $99,781 |
| Median gross rent / month | $1,634 | $1,800 |
| Census region | Northeast | Northeast |
Sources: BEA RPP 2022; Census ACS income and rent 2023.
Salary needed to move
Using the price-level ratio (the salary-needed formula on our methodology page), here is the equivalent pay needed to hold the same standard of living when you move between New York and New Jersey:
| If you earn this here… | …you'd need this there |
|---|---|
| $60,000 in New York | $60,669 in New Jersey |
| $100,000 in New York | $101,115 in New Jersey |
| $60,000 in New Jersey | $59,338 in New York |
| $100,000 in New Jersey | $98,897 in New York |
Verdict
On price level alone, New York stretches a paycheck further than New Jersey by roughly 1.1%. But cost of living is only half the picture: New Jersey has the higher median household income ($99,781), and neither figure accounts for state income tax, which can swing the real-world gap. Read each state's full page for context — New York and New Jersey — and run your exact salary through the calculator.
Frequently asked questions
Is New York or New Jersey cheaper to live in?
New York is the cheaper of the two: its overall price level is 107.6 versus 108.8 for New Jersey on the BEA Regional Price Parity scale (US = 100), making New Jersey about 1.1% more expensive. This is an estimate of overall prices; verify with the BEA.
What salary in New Jersey matches $100,000 in New York?
About $101,115. Because New Jersey's price level (108.8) is higher than New York's (107.6), $100,000 of New York buying power equals roughly $101,115 in New Jersey. The reverse: $100,000 in New Jersey is worth about $98,897 in New York. Estimate based on price level only — it ignores taxes and your job market.
Which state has higher incomes, New York or New Jersey?
New Jersey has the higher median household income: $99,781 versus $82,095 (US Census Bureau ACS 2023).
More comparisons
Last updated: 2026-06-18