Silver Lake CDP (Essex County), NJ vs Wallington, NJ

Silver Lake CDP (Essex County), NJ and Wallington, NJ have a very similar cost of living, with only a 2.2% difference in their overall index. Silver Lake CDP (Essex County) scores 125 while Wallington scores 127 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 Silver Lake CDP (Essex County) is $1,501/month compared to $1,568/month in Wallington — a 4% difference. Home values follow the same pattern: Silver Lake CDP (Essex County) is more affordable at $483,700 median vs $493,700.

Median household income in Silver Lake CDP (Essex County) is $86,615 compared to $82,422 in Wallington (+5.1%). Silver Lake CDP (Essex County) offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Silver Lake CDP (Essex County) spend roughly 20.8% of their income on rent, less than the 22.8% in Wallington.