Fair Haven, NJ vs Preakness, NJ

The cost of living difference between Fair Haven, NJ and Preakness, NJ is dramatic. Preakness is 50.7% cheaper than Fair Haven, a gap that translates to thousands of dollars per year in household expenses. Fair Haven has a cost index of 223 while Preakness sits at 148, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Fair Haven is $3,500/month compared to $1,946/month in Preakness — a 80% difference. Home values follow the same pattern: Preakness is more affordable at $603,200 median vs $943,300.

Median household income in Fair Haven is $237,132 compared to $133,168 in Preakness (+78.1%). 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 17.5% in Preakness.