River Edge, NJ vs Silver Lake CDP (Essex County), NJ

There is a significant gap in the cost of living between these two cities. Silver Lake CDP (Essex County) is 17.7% cheaper than River Edge. With a cost index of 125 vs 147, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Silver Lake CDP (Essex County) to River Edge should plan for substantially higher expenses across most categories.

On the housing front, median rent in River Edge is $1,811/month compared to $1,501/month in Silver Lake CDP (Essex County) — a 21% difference. Home values follow the same pattern: Silver Lake CDP (Essex County) is more affordable at $483,700 median vs $637,500.

Median household income in River Edge is $155,827 compared to $86,615 in Silver Lake CDP (Essex County) (+79.9%). While River Edge is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of River Edge spend roughly 13.9% of their income on rent, less than the 20.8% in Silver Lake CDP (Essex County).