Hackensack, NJ vs New Milford, NJ

Hackensack is moderately more affordable than New Milford, with a 9.4% lower cost of living index. Hackensack scores 124 compared to 137 for New Milford, where the US average is 100. This difference means residents of New Milford can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Hackensack is $1,794/month compared to $1,722/month in New Milford — a 4% difference. Interestingly, home values tell a different story: while New Milford has cheaper rent, Hackensack actually has lower median home values ($370,300 vs $554,800).

Median household income in Hackensack is $82,212 compared to $113,513 in New Milford (-27.6%). While New Milford is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Hackensack spend roughly 26.2% of their income on rent, more than the 18.2% in New Milford.