Bound Brook, NJ Cost Of Living
Cost Of Living In Bound Brook, NJ Summary
Cost of living in Bound Brook 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 Bound Brook 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 Bound Brook is 120, with 100 being the average.
The cost of living index in Bound Brook is 1.2x higher than the national average.
Bound Brook ranks as the #87 cheapest in New Jersey out of 260.
Bound Brook ranks as the #4,411 cheapest out of 6,489 in the US.
The median home value in Bound Brook is $498,527.
The median income in Bound Brook is $80,876.
Table Of Contents
Bound Brook's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Bound Brook, NJ?
According to the most recent data on the cost of living, Bound Brook has an overall cost of living index of 120, which is 1.2x higher than the national index of 100.
Compared to New Jersey, Bound Brook has a cost of living index that's 1.0x lower than New Jersey's index of 122.
The standard of living in Bound Brook ranks as #87 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Bound Brook ranks as the #173 most expensive place in the Garden State.
For more reading on life in Bound Brook, check out:
In New Jersey
In America
Bound Brook Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Bound Brook. Here is how it fairs on each of the criteria:
The Services index in Bound Brook is 109.
The Groceries index in Bound Brook is 105.
The Health index in Bound Brook is 104.
The Housing index in Bound Brook is 152.
The Transportation index in Bound Brook is 106.
The Utilities index in Bound Brook is 106.
| Living Expense | Bound Brook | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 120 | 122 | 100 | |
| Services | 109 | 108 | 100 | |
| Groceries | 105 | 104 | 100 | |
| Health | 104 | 99 | 100 | |
| Housing | 152 | 159 | 100 | |
| Transportation | 106 | 101 | 100 | |
| Utilities | 106 | 107 | 100 | |
Bound Brook, 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 Bound Brook is $498,527.
The Median Rent in Bound Brook is $1,842.
The Median Income in Bound Brook is $80,876.
The Home Value To Income in Bound Brook is 6.2x.
The Rent To Monthly Income in Bound Brook is 0.27x.
| Statistic | Bound Brook | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $498,527 | $564,432 | $303,400 |
| Median Rent | $1,842 | $1,653 | $1,348 |
| Median Income | $80,876 | $101,050 | $78,538 |
| Home Value To Income | 6.2x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.27x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Bound Brook, NJ Costs By Category
Detailed Bound Brook Services Costs Vs. New Jersey
| Item | Bound Brook | New Jersey |
|---|---|---|
| Shampoo | $1.53 | $1.28 |
| Movie | $14.53 | $12.13 |
| Bowling | $20.98 | $18 |
| Haircut | $30.25 | $24.26 |
| Beauty Salon | $53.0 | $45.56 |
Detailed Bound Brook Groceries Costs Vs. New Jersey
| Item | Bound Brook | New Jersey |
|---|---|---|
| Ground Beef | $6.13 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.7 | $4.67 |
| Potatoes | $5.32 | $4.93 |
| Pizza | $12.59 | $12.09 |
| Beer | $11.12 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed Bound Brook Health Costs Vs. New Jersey
| Item | Bound Brook | New Jersey |
|---|---|---|
| Optometrist | $129.93 | $125.68 |
| Doctor | $124.1 | $135.78 |
| Dentist | $129.94 | $113.29 |
Detailed Bound Brook Transportation Costs Vs. New Jersey
| Item | Bound Brook | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $72.38 | $59.92 |
Detailed Bound Brook Utilities Costs Vs. New Jersey
| Item | Bound Brook | New Jersey |
|---|---|---|
| All Electricity | $223.08 | $193.99 |
| Phone | $186.61 | $192.25 |
Bound Brook SnackAbility
/10
Cost Of Living In Cities Around Bound Brook
The cost of living varies in the cities and towns around Bound Brook. Here's a quick look at the cost of living in the most populous nearby places:
Westfield, NJ has a cost of living index of 178, 1.5x Bound Brook.
Middlesex, NJ has a cost of living index of 126, 1.1x Bound Brook.
Bradley Gardens, NJ has a cost of living index of 150, 1.2x Bound Brook.
| City | Population | Cost Of Living | Vs. Bound Brook |
|---|---|---|---|
| Westfield, NJ | 30,760 | 178 | 1.5x |
| Middlesex, NJ | 14,518 | 126 | 1.1x |
| Bradley Gardens, NJ | 14,315 | 150 | 1.2x |
| Florham Park, NJ | 13,134 | 165 | 1.4x |
| Somerville, NJ | 12,958 | 128 | 1.1x |
| Martinsville, NJ | 12,016 | 159 | 1.3x |
| Manville, NJ | 10,870 | 119 | 1.0x |
| Bernardsville, NJ | 7,871 | 162 | 1.4x |
| Dunellen, NJ | 7,711 | 121 | 1.0x |
| Mountainside, NJ | 6,967 | 173 | 1.4x |
