Elmwood Park, NJ vs Fanwood, NJ

Elmwood Park is moderately more affordable than Fanwood, with a 14.3% lower cost of living index. Elmwood Park scores 138 compared to 161 for Fanwood, where the US average is 100. This difference means residents of Fanwood can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Elmwood Park is $2,025/month compared to $2,368/month in Fanwood — a 15% difference. Home values follow the same pattern: Elmwood Park is more affordable at $456,000 median vs $610,600.

Median household income in Elmwood Park is $100,852 compared to $176,667 in Fanwood (-42.9%). While Fanwood is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elmwood Park spend roughly 24.1% of their income on rent, more than the 16.1% in Fanwood.