Caldwell, NJ vs Somerset, NJ

Somerset is moderately more affordable than Caldwell, with a 6.8% lower cost of living index. Caldwell scores 144 compared to 135 for Somerset, where the US average is 100. This difference means residents of Caldwell can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Caldwell is $1,937/month compared to $2,050/month in Somerset — a 6% difference. Interestingly, home values tell a different story: while Caldwell has cheaper rent, Somerset actually has lower median home values ($408,600 vs $563,000).

Median household income in Caldwell is $101,196 compared to $113,603 in Somerset (-10.9%). Somerset offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Caldwell spend roughly 23% of their income on rent, more than the 21.7% in Somerset.