Cost of Living in New Jersey
Housing costs, rent, income, and affordability for 699 cities in NJ. Updated 2026.
Understanding the cost of living in New Jersey is essential whether you're planning a move, comparing job offers, or evaluating real estate investments. This page breaks down housing costs, rent prices, and median household income for every city in New Jersey, with comparisons to national averages.
New Jersey's average home value of $454,863 is 86% above the national median of $244,900. The average median household income is $110,206, and average monthly rent is $1,359.
Most Affordable Cities in New Jersey
Cities with population 5,000+ ranked by lowest median home value.
| # | City | Home Value | Rent | Income | Population |
|---|---|---|---|---|---|
| 1 | Fort Dix | $0 | $2,383/mo | $98,259 | 8,034 |
| 2 | Rutgers University-Busch Campus | $0 | $2,031/mo | $118,750 | 5,747 |
| 3 | Salem | $69,300 | $992/mo | $40,650 | 5,315 |
| 4 | Crestwood Village | $95,700 | $1,236/mo | $38,396 | 7,951 |
| 5 | Camden | $100,400 | $1,157/mo | $40,450 | 71,471 |
| 6 | Trenton | $122,500 | $1,224/mo | $47,102 | 89,966 |
| 7 | Leisure Village | $127,000 | $1,725/mo | $42,705 | 6,307 |
| 8 | Bridgeton | $134,400 | $1,367/mo | $46,124 | 26,836 |
| 9 | Lindenwold | $168,300 | $1,265/mo | $55,099 | 21,534 |
| 10 | Paulsboro | $169,400 | $970/mo | $68,750 | 6,213 |
| 11 | Pleasantville | $177,700 | $1,328/mo | $52,403 | 20,604 |
| 12 | Gloucester City | $180,100 | $1,489/mo | $70,942 | 11,465 |
| 13 | Carneys Point | $180,600 | $1,283/mo | $75,436 | 7,945 |
| 14 | Phillipsburg | $180,700 | $1,118/mo | $67,782 | 15,251 |
| 15 | Pine Hill | $182,200 | $1,174/mo | $68,725 | 10,762 |
Most Expensive Cities in New Jersey
| # | City | Home Value | Rent | Income | Population |
|---|---|---|---|---|---|
| 1 | Short Hills | $1,621,200 | $3,259/mo | $250,001 | 14,398 |
| 2 | Rumson | $1,609,400 | $2,351/mo | $250,001 | 7,265 |
| 3 | Englewood Cliffs | $1,232,700 | $3,501/mo | $222,192 | 5,330 |
| 4 | Franklin Lakes | $1,217,500 | $3,334/mo | $230,987 | 11,011 |
| 5 | Upper Saddle River | $1,101,800 | $3,501/mo | $246,719 | 8,354 |
| 6 | Princeton, New Jersey | $1,040,400 | $2,448/mo | $184,113 | 30,451 |
| 7 | Tenafly | $974,300 | $3,143/mo | $208,088 | 15,252 |
| 8 | Summit | $969,900 | $2,308/mo | $199,107 | 22,512 |
| 9 | Upper Montclair | $968,200 | $2,290/mo | $250,001 | 12,279 |
| 10 | Manasquan | $947,100 | $1,655/mo | $156,542 | 5,915 |
Highest Income Cities in New Jersey
| # | City | Median Income | Home Value | Population |
|---|---|---|---|---|
| 1 | Chatham | $250,001 | $944,300 | 9,219 |
| 2 | Rumson | $250,001 | $1,609,400 | 7,265 |
| 3 | Short Hills | $250,001 | $1,621,200 | 14,398 |
| 4 | Upper Montclair | $250,001 | $968,200 | 12,279 |
| 5 | Blackwells Mills | $248,149 | $736,000 | 10,220 |
| 6 | Glen Ridge | $248,016 | $730,600 | 7,827 |
| 7 | Upper Saddle River | $246,719 | $1,101,800 | 8,354 |
| 8 | Lyons | $243,958 | $936,000 | 5,444 |
| 9 | Fair Haven | $237,132 | $943,300 | 6,182 |
| 10 | Bernardsville | $231,006 | $737,600 | 7,871 |
Cost of Living FAQ — New Jersey
What is the average cost of living in New Jersey?
The average median home value across New Jersey cities is $454,863, with average rent of $1,359/month. The average median household income is $110,206.
What are the cheapest cities in New Jersey?
The most affordable cities in New Jersey by home value include Fort Dix ($0), Rutgers University-Busch Campus ($0), Salem ($69,300).
What is the most expensive city in New Jersey?
The most expensive city in New Jersey is Short Hills with a median home value of $1,621,200.
How does New Jersey compare to the national average?
New Jersey's average home value of $454,863 is above the national median of $244,900. Median rent of $1,359/month is above the US average of $1,163.