The 10 Most Expensive Places To Live In New Jersey For 2021


We used science and data to determine which cities in New Jersey that will put a big dent in your wallet.

HomeSnacks is reader-supported. When you click through real estate links on our site, we earn an affiliate commission. Learn more.
Editor’s Note: We updated this article for 2021. This is our seventh time ranking the most expensive places to live in New Jersey.

Everyone wants a home that mixes affordability with comfort and New Jersey does this very well. Families love the Garden State's beaches, midlands, and mountains as tourists before moving here and calling it home.

But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.

These are the places in New Jersey that cost a pretty penny -- the most expensive cities in the state.

After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in New Jersey for 2021.

So where is the most expensive place to live in New Jersey? That would be Englewood Cliffs.
the 2015-2019 American Community Survey for the 186 places in New Jersey with more than 5,000 people.

Here are the 10 most expensive places to live in New Jersey for 2021:

  1. Englewood Cliffs
  2. Palisades Park
  3. Asbury Park
  4. Ridgefield
  5. Upper Saddle River
  6. Fairview
  7. Passaic
  8. Cliffside Park
  9. Union City
  10. Belmar

What's the most expensive place to live in New Jersey? Well, HomeSnacks crunched the numbers and discovered that Englewood Cliffs is the most expensive place to live in New Jersey.

So hopefully Somerdale (the cheapest place to live in New Jersey) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.

And if you already knew these places were expensive, check out some more reading about New Jersey and the most expensive cities in the country:

The 10 Most Expensive Places To Live In New Jersey For 2021

1. Englewood CliffsEnglewood Cliffs, NJ

Source: Public domain
Overall SnackAbility

10
/10

Population: 5,371
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 6.7x (8th most expensive)
Income To Rent Ratio: 44.5x (25th most expensive)
More on Englewood Cliffs: Real Estate | Data | Photos

The median income in Englewood Cliffs comes in at $148,446 and the median home value is $997,100 for 2021.

2. Palisades ParkPalisades Park, NJ

Overall SnackAbility

8.5
/10

Population: 20,604
Rank Last Year: 2 (No Change)
Home Price To Income Ratio: 8.2x (most expensive)
Income To Rent Ratio: 44.9x (26th most expensive)
More on Palisades Park: Real Estate | Data | Photos

The median income in Palisades Park comes in at $68,245 and the median home value is $558,400 for 2021.

3. Asbury ParkAsbury Park, NJ

Overall SnackAbility

5
/10

Population: 15,597
Rank Last Year: 4 (Up 1)
Home Price To Income Ratio: 7.9x (3rd most expensive)
Income To Rent Ratio: 38.9x (12th most expensive)
More on Asbury Park: Real Estate | Data | Photos

The median income in Asbury Park comes in at $47,841 and the median home value is $377,400 for 2021.

4. RidgefieldRidgefield, NJ

Source: Public domain
Overall SnackAbility

9
/10

Population: 11,227
Rank Last Year: 3 (Down 2)
Home Price To Income Ratio: 6.2x (12th most expensive)
Income To Rent Ratio: 45.3x (27th most expensive)
More on Ridgefield: Real Estate | Data | Photos

The median income in Ridgefield comes in at $71,699 and the median home value is $442,500 for 2021.

5. Upper Saddle RiverUpper Saddle River, NJ

Overall SnackAbility

10
/10

Population: 8,227
Rank Last Year: 31 (Up 25)
Home Price To Income Ratio: 5.6x (24th most expensive)
Income To Rent Ratio: 55.5x (78th most expensive)
More on Upper Saddle River: Real Estate | Data | Photos

The median income in Upper Saddle River comes in at $158,536 and the median home value is $885,900 for 2021.

6. Fairview

Overall SnackAbility

7
/10

Population: 14,258
Rank Last Year: 9 (Up 3)
Home Price To Income Ratio: 6.3x (9th most expensive)
Income To Rent Ratio: 39.3x (14th most expensive)
More on Fairview: Real Estate | Data

The median income in Fairview comes in at $57,698 and the median home value is $364,900 for 2021.

7. PassaicPassaic, NJ

Source: Public domain
Overall SnackAbility

5
/10

Population: 70,019
Rank Last Year: 7 (Down 1)
Home Price To Income Ratio: 8.1x (2nd most expensive)
Income To Rent Ratio: 34.5x (8th most expensive)
More on Passaic: Real Estate | Data | Photos

The median income in Passaic comes in at $40,865 and the median home value is $332,700 for 2021.

8. Cliffside ParkCliffside Park, NJ

Source: Public domain
Overall SnackAbility

9
/10

Population: 25,126
Rank Last Year: 7 (Down 2)
Home Price To Income Ratio: 6.2x (13th most expensive)
Income To Rent Ratio: 49.5x (46th most expensive)
More on Cliffside Park: Real Estate | Data | Photos

The median income in Cliffside Park comes in at $72,633 and the median home value is $447,900 for 2021.

9. Union CityUnion City, NJ

Overall SnackAbility

6
/10

Population: 68,226
Rank Last Year: 11 (Up 1)
Home Price To Income Ratio: 7.0x (6th most expensive)
Income To Rent Ratio: 40.0x (16th most expensive)
More on Union City: Real Estate | Data | Photos

The median income in Union City comes in at $48,992 and the median home value is $340,800 for 2021.

10. BelmarBelmar, NJ

Overall SnackAbility

8.5
/10

Population: 5,624
Rank Last Year: 6 (Down 5)
Home Price To Income Ratio: 6.8x (7th most expensive)
Income To Rent Ratio: 55.9x (85th most expensive)
More on Belmar: Real Estate | Data | Photos

The median income in Belmar comes in at $87,639 and the median home value is $599,900 for 2021.

How We Determined The Most Expensive Places To Live In The Garden State For 2021

Map Of The Cheapest Places To Live In New Jersey
The two most important things to think about when it comes to being able to afford if you can live comes down to:

  1. How much do money do I make?
  2. How much do I have spend to live there?

You need to understand your costs in the context of how much money you make.

For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.

With that example in mind, we derived several statistics from the latest Census American Community Survey 2015-2019 around incomes and costs. They are:

  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (Higher is better)
  • Median Home Price

We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).

You can then compare these metrics in each of the places in New Jersey to figure out which is the most expensive.

What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.

So we used that cost of living index in order to rank all of the 186 places in New Jersey that have more than 5,000 people.

The place with the highest cost of living in New Jersey according to the data is Englewood Cliffs. You can download the data here.

Taking A Chunk Out Of Your Paycheck In New Jersey For 2021

Well there you have it, the places in New Jersey that have the highest cost of living, with Englewood Cliffs ranking as the most expensive city in the Garden State.

Here's a look at the most affordable cities in New Jersey according to the data:

  1. Somerdale
  2. Stratford
  3. Audubon

For more New Jersey reading, check out:

Detailed List Of The Most Expensive Cities In New Jersey

Rank City ExpensiveScore Population Home/Income Ratio Income/Rent Ratio
1 Englewood Cliffs 11.67 5,371 6.7x 44.5x
2 Palisades Park 22.33 20,604 8.2x 44.9x
3 Asbury Park 30.0 15,597 7.9x 38.9x
4 Ridgefield 33.0 11,227 6.2x 45.3x
5 Upper Saddle River 35.67 8,227 5.6x 55.5x
6 Fairview 35.67 14,258 6.3x 39.3x
7 Passaic 39.0 70,019 8.1x 34.5x
8 Cliffside Park 39.33 25,126 6.2x 49.5x
9 Union City 40.33 68,226 7.0x 40.0x
10 Belmar 42.0 5,624 6.8x 55.9x
11 Florham Park 42.33 11,623 5.0x 52.5x
12 Long Branch 43.0 30,516 6.1x 45.7x
13 Red Bank 43.67 12,072 5.5x 47.0x
14 Edgewater 46.33 12,403 4.7x 50.8x
15 Lodi 49.33 24,430 5.6x 49.4x
16 West New York 50.33 52,662 5.8x 43.5x
17 Franklin Lakes 51.0 10,946 5.5x 65.4x
18 Newark 53.0 281,054 7.0x 32.4x
19 Ocean City 54.0 11,132 7.1x 64.1x
20 Jersey City 54.17 261,940 5.3x 50.5x
21 Elizabeth 54.67 128,333 5.8x 41.6x
22 Garfield 56.0 31,645 5.4x 47.5x
23 Old Tappan 56.33 5,914 5.5x 66.9x
24 New Brunswick 56.67 55,960 5.7x 29.8x
25 Guttenberg 56.67 11,317 5.2x 43.4x
26 Prospect Park 58.0 5,865 5.5x 33.7x
27 Elmwood Park 58.33 20,059 4.7x 46.6x
28 Paterson 58.33 145,710 5.9x 34.7x
29 Cresskill 59.0 8,699 4.5x 56.4x
30 North Haledon 59.0 8,437 4.2x 47.1x
31 Morristown 59.67 18,909 4.9x 55.8x
32 Hoboken 60.0 53,193 4.9x 63.8x
33 Margate City 60.33 5,997 5.8x 63.2x
34 Rumson 61.33 6,792 6.2x 85.6x
35 Harrison 61.5 17,213 4.8x 46.3x
36 Wildwood 61.67 5,042 5.7x 38.2x
37 East Rutherford 62.0 9,584 4.7x 51.0x
38 Wallington 62.33 11,540 5.5x 55.7x
39 Princeton 63.67 31,000 6.3x 89.9x
40 Little Ferry 63.67 10,782 5.0x 49.0x
41 Closter 64.0 8,565 4.8x 64.1x
42 Norwood 64.0 5,812 5.1x 66.0x
43 Morris Plains 64.33 5,748 4.0x 50.9x
44 Freehold 65.0 11,797 4.8x 42.1x
45 Summit 65.0 21,913 5.6x 84.0x
46 Bayonne 65.17 65,091 5.2x 51.0x
47 Woodland Park 66.0 12,547 4.7x 52.2x
48 Perth Amboy 66.67 51,678 5.0x 39.2x
49 Mountainside 67.33 6,826 5.3x 68.4x
50 Brigantine 68.33 8,832 4.9x 53.8x
51 Tenafly 69.33 14,632 4.8x 76.1x
52 Eato 69.67 12,214 5.1x 53.8x
53 Paramus 69.67 26,503 4.7x 63.8x
54 Raritan 69.67 7,865 4.3x 47.5x
55 Tinton Falls 70.67 17,632 4.1x 46.0x
56 Roseland 70.67 5,834 3.8x 50.0x
57 Atlantic City 71.33 37,999 5.4x 32.3x
58 Highland Park 73.5 13,883 4.6x 55.5x
59 Caldwell 73.67 7,969 4.8x 64.0x
60 Madison 73.67 16,377 5.0x 80.9x
61 Woodcliff Lake 75.0 5,832 4.7x 82.7x
62 Manasquan 75.67 5,829 5.5x 103.0x
63 Englewood 76.33 28,353 4.5x 58.5x
64 Kearny 77.33 41,412 4.7x 54.2x
65 Mount Arlington 78.5 5,637 4.0x 42.3x
66 Clifton 78.67 85,204 4.5x 54.4x
67 Leonia 78.67 9,086 4.9x 70.8x
68 Plainfield 81.0 50,362 4.6x 46.5x
69 Fort Lee 81.0 37,430 3.9x 43.6x
70 Hackensack 81.33 44,339 4.2x 48.7x
71 East Orange 82.0 64,374 4.6x 43.2x
72 West Long Branch 83.33 7,908 4.1x 60.4x
73 Oradell 83.67 8,141 4.7x 80.2x
74 Ventnor City 83.67 10,095 4.6x 50.9x
75 Maywood 83.67 9,661 4.1x 58.9x
76 Westwood 84.0 11,115 4.2x 62.9x
77 Rutherford 84.33 18,398 4.7x 70.5x
78 Watchung 84.67 6,039 4.3x 77.8x
79 Hasbrouck Heights 84.67 12,082 4.5x 65.6x
80 Allendale 85.33 6,765 4.4x 89.1x
81 New Milford 85.67 16,545 4.5x 65.6x
82 Midland Park 87.33 7,244 4.2x 68.0x
83 Fair Haven 87.67 5,873 4.1x 78.3x
84 North Arlington 90.0 15,677 4.3x 61.5x
85 Carlstadt 90.0 6,178 4.6x 68.9x
86 Westfield 90.0 29,877 4.4x 106.2x
87 Boonton 90.67 8,398 4.4x 66.1x
88 Montvale 90.67 8,489 4.2x 80.0x
89 Point Pleasant 90.67 18,598 3.9x 60.2x
90 Middlesex 91.0 13,662 4.1x 53.3x
91 Ridgewood 91.0 25,179 4.1x 91.0x
92 River Edge 92.0 11,500 4.2x 74.3x
93 Wharton 92.5 6,474 3.7x 47.6x
94 New Providence 93.0 13,049 4.2x 82.9x
95 Somerville 93.0 12,085 4.2x 55.6x
96 Fanwood 93.33 7,660 3.2x 54.6x
97 Bound Brook 93.67 10,288 3.9x 48.9x
98 Keyport 94.0 7,034 4.3x 52.5x
99 Bernardsville 94.33 7,678 4.1x 92.4x
100 North Plainfield 96.0 21,501 3.9x 50.3x

How Is The Area In ?

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.