Carteret, NJ vs Matawan, NJ

Carteret, NJ and Matawan, NJ have a very similar cost of living, with only a 2.1% difference in their overall index. Carteret scores 131 while Matawan scores 128 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 Carteret is $2,012/month compared to $1,714/month in Matawan — a 17% difference. Interestingly, home values tell a different story: while Matawan has cheaper rent, Carteret actually has lower median home values ($370,200 vs $447,000).

Median household income in Carteret is $87,553 compared to $122,026 in Matawan (-28.3%). Matawan offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Carteret spend roughly 27.6% of their income on rent, more than the 16.9% in Matawan.