Elizabeth vs Passaic
Side-by-side rent vs buy analysis comparing these two markets
Overall Comparison
Passaic has an edge
Passaic currently favors renting, with better rent-to-price dynamics.
Median Home Price
$614,241.42
Median Rent
$2,589.68/mo
Price-to-Rent RatioBETTER
19.8
Property Tax RateTIE
2.49%
Price Change (1Y)
+2.2%
Price Change (5Y)
+11.1%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$499,645
Median Home PriceBETTER
$574,942.32
Median RentBETTER
$2,281.68/mo
Price-to-Rent Ratio
21.0
Property Tax RateTIE
2.49%
Price Change (1Y)BETTER
+3.2%
Price Change (5Y)BETTER
+16.1%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$449,588
Key Differences
Home Prices
Elizabeth's median home price of $614,241.42 is higher than Passaic's $574,942.32 by 7%.
Monthly Rent
Renting in Elizabeth costs $2,589.68/mo compared to $2,281.68/mo in Passaic—a difference of $308/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.
Run Your Own Numbers
This comparison uses median values. Your income, savings, and goals matter. Use our Buy vs Rent calculator to get a personalized analysis.