Carteret, NJ vs Pine Lake Park, NJ

Pine Lake Park is moderately more affordable than Carteret, with a 5.1% lower cost of living index. Carteret scores 131 compared to 124 for Pine Lake Park, where the US average is 100. This difference means residents of Carteret can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Carteret is $2,012/month compared to $1,785/month in Pine Lake Park — a 13% difference. Interestingly, home values tell a different story: while Pine Lake Park has cheaper rent, Carteret actually has lower median home values ($370,200 vs $377,200).

Median household income in Carteret is $87,553 compared to $87,998 in Pine Lake Park (-0.5%). Pine Lake Park 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 24.3% in Pine Lake Park.