Have you ever wondered what the Cost of Living in Newark is? If you are not familiar of what Cost of Living is, it is the amount of money you would financially need to sustain a certain level of living by being able to afford the basic essentials as in housing, food/groceries, bills, taxes, and healthcare. After doing some research on the city of Newark, the Rick Fuller Real Estate Team wants to help you weigh out your options and make the best choices for you and your family.
The Cost of Living is based on the US average of 100. Any amount that lands below 100, is considered cheaper than the US average. Any amount that is above 100, would be considered more expensive than the US average. The Cost of Living in Newark, California is 221.4. If you read below, we will break down what this number means.
Housing Expenses are considered 115% higher than the National Average.
Utility Expenses are considered 14% higher than the National Average.
Transportation Expenses are considered 30% higher than the National Average.
Estimate Housing/Transportation Expenses:
- Median Home Price: $745,463
- Median Home Rent: $2,335/Month
- Energy Bill: $190.46/Month
- Phone Bill: $203.03/Month
- Gas: $3.40/Gallon
Healthcare in Newark is considered 23% higher than the National Average.
Estimate Healthcare Expenses:
- Doctor visit: $136.28
- Dentist visit: $117.08
- Optometrist visit: $127.70
- Medicine/Prescriptions: $542.87
- Veterinary visit: $62.69
I hope this list helps you get an idea of what living in Newark would be like financially for you. If you are looking to buy a home or looking to sell yours, contact your local Newark Real Estate Team and we would love to answer any questions you may have for us! We would love to give you an experience you would be excited to tell a friend about.