Boonton, NJ vs Somerset, NJ

Boonton, NJ and Somerset, NJ have a very similar cost of living, with only a 2.4% difference in their overall index. Boonton scores 132 while Somerset scores 135 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Boonton is $1,761/month compared to $2,050/month in Somerset — a 14% difference. Interestingly, home values tell a different story: while Boonton has cheaper rent, Somerset actually has lower median home values ($408,600 vs $475,300).

Median household income in Boonton is $100,417 compared to $113,603 in Somerset (-11.6%). While Somerset is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Boonton spend roughly 21% of their income on rent, less than the 21.7% in Somerset.