Cost of Living: Hickman, KY vs Newark, NJ
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Hickman | Newark |
|---|---|---|
| Housing Index | 100 | 130.5 |
| Median Home Price | $162,000 | $327,000 |
| Average Rent (2 BR Apartment) | $1350 | $2328 |
| Average Rent (2 BR House) | $1467 | $2531 |
Housing Comparison: Hickman vs Newark
- The median home price in Newark is higher at $327,000, compared to $162,000 in Hickman.
- In Newark, the rental for a two-bedroom apartment stands at $2,328, while it is $1,350 in Hickman.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Hickman | Newark |
|---|---|---|
| Electricity Price | $12.87 | $19.88 |
| Natural Gas Price | $22.78 | $14.01 |
| Other Utilities | $225 | $250 |
Utilities Comparison: Hickman vs Newark
- Newark has higher electricity costs at $19.88 per kWh, versus $12.87 in Hickman.
- Natural gas is more expensive in Hickman at $22.78 per unit, while it is cheaper at $14.01 in Newark.
- Newark has higher utility expenses, averaging $250, while Hickman averages $225.