Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Newark might be more expensive than living in rural New Jersey, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Newark neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Newark are the cheapest.
What’s the cheapest neighborhood to live in Newark for 2020? According to the most recent census data, Dayton-Weequahic Park looks to be the cheaptest Newark neighborhood to live in.
At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Newark. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Newark that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Newark.
Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more New Jersey reading, check out:
- Best Places To Live In New Jersey
- Best Counties To Live In New Jersey
- Cheapest Cities To Live In America
- Cheapest States To Live In America
How We Determined The Cheapest Newark Hoods In 2020
In order to rank the cheapest places to live in Newark, we had to determine what criteria defines “cheap”.
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 20 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Newark.” We’re lookin’ at you, Dayton-Weequahic Park.
Read on below to learn more about what it’s like to live in the cheapest places Newark. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
The 10 Cheapest Neighborhoods To Live In Newark For 2020
The median income in Dayton-Weequahic Park comes in at $23,837 and the median home value is $87,600 for 2020.
Downtown Newark, officially known as the Central Business District, is an unincorporated community and neighborhood within the city of Newark in Essex County, New Jersey, United States. Downtown Newark is Newark’s central business, retail, and cultural district and the largest such district in New Jersey. It is located at a bend in the Passaic River.
The median income in Central Business District comes in at $42,834 and the median home value is $129,883 for 2020.
The median income in Springfield-Belmont comes in at $24,967 and the median home value is $75,687 for 2020.
The median income in Lower Vailsburg comes in at $49,386 and the median home value is $180,792 for 2020.
University Heights is a neighborhood in Newark in Essex County, New Jersey, United States. It is so named because of the location of four academic institutions within its boundaries Rutgers University, the New Jersey Institute of Technology, the New Jersey Medical School, and Essex County College. In total, the schools enroll approximately 32,000 degree-seeking students.
The median income in University Heights comes in at $36,350 and the median home value is $146,370 for 2020.
The median income in Lower Clinton Hill comes in at $32,357 and the median home value is $131,567 for 2020.
The median income in South Broad Street comes in at $28,311 and the median home value is $106,406 for 2020.
The median income in Upper Vailsburg comes in at $43,529 and the median home value is $175,305 for 2020.
Mt. Pleasant is an unincorporated community and neighborhood within the city of Newark in Essex County, New Jersey, United States. It is just north of the Lower Broadway Neighborhood and is part of the Newark Urban Enterprise Zone. It is named for the hill overlooking the Passaic River on which it rests. A number of landmarks in the neighborhood include the former Newark Teachers College. This structure is located on the corner of Broadway and 4th avenue, and is today Technology High School. It also served as the temporary home of Arts high school in the mid-1990s. The open and raised Erie Lackawanna railroad’s NX bascule bridge, which appeared in the film Annie towers and looks over the neighborhood like a quiet sentinel.
The median income in Mount Pleasant comes in at $33,803 and the median home value is $164,700 for 2020.
Weequahic is an unincorporated community and neighborhood within the city of Newark in Essex County, New Jersey, United States. Part of the South Ward, it is separated from Clinton Hill by Hawthorne Avenue on the north, and bordered by the city of Irvington on the west, Newark Liberty International Airport and Dayton on the east, and Hillside Township and the city of Elizabeth on the south.
The median income in Weequahic comes in at $39,947 and the median home value is $188,375 for 2020.
Summing Up The Cheapest Places In Newark
If you’re measuring the neighborhoods in Newark where prices are low and it’s cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Newark aren’t all cheap. North Broadway takes the title of the most expensive neighborhood to live in Newark.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more New Jersey reading, check out:
- Cheapest Places To Live In New Jersey
- Best Places To Raise A Family In New Jersey
- Best Places To Retire In New Jersey
- Richest Cities In New Jersey
- Safest Places In New Jersey
- Worst Places To Live In New Jersey
Detailed List Of The Cheapest Neighborhoods To Live In Newark For 2020
|Rank||Neighborhood||Cost Of Living Index|
|2||Central Business District||101|
|6||Lower Clinton Hill||101|
|7||South Broad Street||98|
|13||Upper Clinton Hill||107|