salaryElizabeth is the 4th-largest city in New Jersey that we track, with 137,302 residents. Rent is higher than in 74% of U.S. cities. A typical house costs about 6.3 years of household income, so buying is hard for most locals. Most households rent (74%), so there are plenty of rental options.
How much money do I need?
To rent here comfortably, you should earn about $84,520 a year. That is $41 an hour at a full-time job.
Is rent cheaper than other New Jersey cities?
Yes. Rent here is cheaper than in most of New Jersey. It is number 122 of 291 cities from cheapest to most expensive.
How much do households earn in Elizabeth?
Share of households by yearly income. 20.8% of households earn $100,000 or more.
Rent by apartment size in Elizabeth
| Size | Elizabeth | U.S. average |
|---|---|---|
| Studio | $1,198 | $1,338 |
| 1 bedroom | $1,363 | $1,324 |
| 2 bedrooms | $1,752 | $1,509 |
| 3 bedrooms | $2,127 | $1,698 |
| 4 bedrooms | $2,472 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Elizabeth overall?
Everyday prices in New Jersey overall are 9% above the U.S. average (index 108.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Elizabeth, so the New Jersey figure is shown.
Taxes and bills in Elizabeth
Life in Elizabeth
Is it cheaper to rent or buy in Elizabeth?
Renting is cheaper right now: about $1,005 a month less.
Owning assumes a typical $449,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $44,930 for the down payment.
Frequently asked questions
What is the average rent in Elizabeth, NJ?
Renting in Elizabeth costs a median of about $2,113 a month in 2026, including utilities. The New Jersey median is $2,240.
How much do I need to make to live in Elizabeth?
To keep rent under 30% of income, you need about $84,520 a year, or $41 an hour at a full-time job.
Is Elizabeth cheap or expensive?
Elizabeth is rated Expensive: rent takes 35.3% of the typical household income of $71,780. It ranks 122nd cheapest of 291 New Jersey cities we track.
How much are property taxes in Elizabeth?
The median homeowner in Elizabeth pays $10,000+ a year in property taxes, about 2.23% of the median home value.
Is Elizabeth more expensive than the national average?
Overall prices in New Jersey are 9% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Elizabeth?
The median home value in Elizabeth is $449,300, about 6.3 times the typical yearly household income.
137,302 people live in Elizabeth. Numbers are typical (middle) values.