Cost of Living in Elizabeth
Elizabeth's cost of living runs moderately below New Jersey's own statewide housing average, offset by a real, above-average property-tax rate.
Thinking about moving to Elizabeth?
We can connect you with a local real estate professional who knows the area -- no pressure, just a starting point.
Learn moreBelow-statewide-average home values
Elizabeth's median home value (approximately $534,666-$544,000) runs genuinely below New Jersey's own $584,681 statewide average, while remaining above the national median.
A real, above-average property-tax offset
Elizabeth's own effective property tax rate ran 2.54% -- meaningfully above New Jersey's 1.88%-2.23% statewide average -- offsetting some of the relative housing-price advantage.
New Jersey's graduated income tax applies statewide
New Jersey's real, graduated 7-bracket income tax (1.4%-10.75%) applies in Elizabeth as statewide, alongside the state's simple, uniform 6.625% sales tax.
Key takeaways
- Elizabeth's median home value runs below New Jersey's own statewide average.
- Elizabeth's property-tax rate (2.54%) runs above New Jersey's own high statewide average.
- New Jersey's graduated income tax and uniform sales tax apply in Elizabeth as statewide.
Want to know what your budget buys in Elizabeth?
Tell us a bit about what you're looking for and we'll connect you with someone local who can walk you through real numbers.
Get local guidanceRead the full Elizabeth overview for the complete picture -- housing, taxes, climate, and who this place genuinely fits.
Planning a move to Elizabeth?
Tell us what you're looking for and we'll connect you with a local expert who can help you make it happen.
Talk to a local expert