Fair Haven, NJ vs Madison, NJ

There is a significant gap in the cost of living between these two cities. Madison is 23.8% cheaper than Fair Haven. With a cost index of 180 vs 223, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Madison to Fair Haven should plan for substantially higher expenses across most categories.

On the housing front, median rent in Fair Haven is $3,500/month compared to $2,248/month in Madison — a 56% difference. Home values follow the same pattern: Madison is more affordable at $882,900 median vs $943,300.

Median household income in Fair Haven is $237,132 compared to $168,469 in Madison (+40.8%). While Fair Haven is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Fair Haven spend roughly 17.7% of their income on rent, more than the 16% in Madison.