New Milford, NJ vs Union Beach, NJ

New Milford, NJ and Union Beach, NJ have a very similar cost of living, with only a 0.9% difference in their overall index. New Milford scores 137 while Union Beach scores 136 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in New Milford is $1,722/month compared to $1,957/month in Union Beach — a 12% difference. Interestingly, home values tell a different story: while New Milford has cheaper rent, Union Beach actually has lower median home values ($452,900 vs $554,800).

Median household income in New Milford is $113,513 compared to $128,400 in Union Beach (-11.6%). Union Beach offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of New Milford spend roughly 18.2% of their income on rent, less than the 18.3% in Union Beach.