What Salary Do You Need to Live in Newark, NJ?
To live comfortably in Newark, a household needs to earn roughly $65,000/year. That's about $5,417/month before taxes.
The Number: $65,000/year
At $65,000 per year, a household in Newark can afford median-priced rental housing at roughly 28% of gross income.
This is based on Newark's median monthly rent of $1,475 and the 28% housing guideline. Source: Census ACS 2024.
Newark at a Glance
Sources: Census ACS 2024, Tax Foundation.
For Single Residents
A single person can live comfortably in Newark on roughly $40,000/year. That's about $3,333/month before taxes.
Salary Questions About Newark
The median monthly rent is $1,475. Using the 30% guideline, you need about $59,000/year to afford this comfortably.
The median home price is $396,600. With a 20% down payment, you would need roughly $79,320 saved and a household income to support the mortgage payments.
The median household income is $58,490/year. Our recommended salary of $65,000/year is above the median, reflecting a comfortable (not extravagant) standard of living.