Bernardsville, NJ Cost Of Living
Cost Of Living In Bernardsville, NJ Summary
Cost of living in Bernardsville research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Bernardsville is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Jersey, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Bernardsville is 162, with 100 being the average.
The cost of living index in Bernardsville is 1.6x higher than the national average.
Bernardsville ranks as the #222 cheapest in New Jersey out of 260.
Bernardsville ranks as the #5,933 cheapest out of 6,489 in the US.
The median home value in Bernardsville is $1,006,890.
The median income in Bernardsville is $231,006.
Table Of Contents
Bernardsville's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Bernardsville, NJ?
According to the most recent data on the cost of living, Bernardsville has an overall cost of living index of 162, which is 1.6x higher than the national index of 100.
Compared to New Jersey, Bernardsville has a cost of living index that's 1.3x higher than New Jersey's index of 122.
The standard of living in Bernardsville ranks as #222 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Bernardsville ranks as the #38 most expensive place in the Garden State.
For more reading on life in Bernardsville, check out:
In New Jersey
In America
Bernardsville Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Bernardsville. Here is how it fairs on each of the criteria:
The Services index in Bernardsville is 102.
The Groceries index in Bernardsville is 101.
The Health index in Bernardsville is 99.
The Housing index in Bernardsville is 302.
The Transportation index in Bernardsville is 96.
The Utilities index in Bernardsville is 102.
| Living Expense | Bernardsville | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 162 | 122 | 100 | |
| Services | 102 | 108 | 100 | |
| Groceries | 101 | 104 | 100 | |
| Health | 99 | 99 | 100 | |
| Housing | 302 | 159 | 100 | |
| Transportation | 96 | 101 | 100 | |
| Utilities | 102 | 107 | 100 | |
Bernardsville, NJ Housing Cost Breakdown
Housing swings affordability the most between places in New Jersey, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Bernardsville is $1,006,890.
The Median Rent in Bernardsville is $2,155.
The Median Income in Bernardsville is $231,006.
The Home Value To Income in Bernardsville is 4.4x.
The Rent To Monthly Income in Bernardsville is 0.11x.
| Statistic | Bernardsville | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $1,006,890 | $564,432 | $303,400 |
| Median Rent | $2,155 | $1,653 | $1,348 |
| Median Income | $231,006 | $101,050 | $78,538 |
| Home Value To Income | 4.4x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.11x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Bernardsville, NJ Costs By Category
Detailed Bernardsville Services Costs Vs. New Jersey
| Item | Bernardsville | New Jersey |
|---|---|---|
| Shampoo | $1.44 | $1.28 |
| Movie | $14.15 | $12.13 |
| Bowling | $25.03 | $18 |
| Haircut | $29.17 | $24.26 |
| Beauty Salon | $40.36 | $45.56 |
Detailed Bernardsville Groceries Costs Vs. New Jersey
| Item | Bernardsville | New Jersey |
|---|---|---|
| Ground Beef | $5.64 | $5.84 |
| Fried Chicken | $1.55 | $1.57 |
| Milk | $4.74 | $4.67 |
| Potatoes | $5.21 | $4.93 |
| Pizza | $11.49 | $12.09 |
| Beer | $11.66 | $10.41 |
| Toothpaste | $3.66 | $3.7 |
Detailed Bernardsville Health Costs Vs. New Jersey
| Item | Bernardsville | New Jersey |
|---|---|---|
| Optometrist | $105.11 | $125.68 |
| Doctor | $117.94 | $135.78 |
| Dentist | $121.22 | $113.29 |
Detailed Bernardsville Transportation Costs Vs. New Jersey
| Item | Bernardsville | New Jersey |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $77.33 | $59.92 |
Detailed Bernardsville Utilities Costs Vs. New Jersey
| Item | Bernardsville | New Jersey |
|---|---|---|
| All Electricity | $230.68 | $193.99 |
| Phone | $186.61 | $192.25 |
Bernardsville SnackAbility
/10
Cost Of Living In Cities Around Bernardsville
The cost of living varies in the cities and towns around Bernardsville. Here's a quick look at the cost of living in the most populous nearby places:
Morristown, TN has a cost of living index of 84, 0.5x Bernardsville.
Westfield, NJ has a cost of living index of 178, 1.1x Bernardsville.
Madison, NJ has a cost of living index of 173, 1.1x Bernardsville.
| City | Population | Cost Of Living | Vs. Bernardsville |
|---|---|---|---|
| Morristown, TN | 30,983 | 84 | 0.5x |
| Westfield, NJ | 30,760 | 178 | 1.1x |
| Madison, NJ | 16,464 | 173 | 1.1x |
| Middlesex, NJ | 14,518 | 126 | 0.8x |
| Bradley Gardens, NJ | 14,315 | 150 | 0.9x |
| Florham Park, NJ | 13,134 | 165 | 1.0x |
| Martinsville, NJ | 12,016 | 159 | 1.0x |
| Succasunna, NJ | 9,866 | 134 | 0.8x |
| Boonton, NJ | 8,803 | 129 | 0.8x |
| White Meadow Lake, NJ | 8,706 | 131 | 0.8x |
