Elmwood Park, NJ Cost Of Living
Cost Of Living In Elmwood Park, NJ Summary
Cost of living in Elmwood Park 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 Elmwood Park 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 Elmwood Park is 135, with 100 being the average.
The cost of living index in Elmwood Park is 1.4x higher than the national average.
Elmwood Park ranks as the #156 cheapest in New Jersey out of 260.
Elmwood Park ranks as the #5,216 cheapest out of 6,489 in the US.
The median home value in Elmwood Park is $605,464.
The median income in Elmwood Park is $100,852.
Table Of Contents
Elmwood Park's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Elmwood Park, NJ?
According to the most recent data on the cost of living, Elmwood Park has an overall cost of living index of 135, which is 1.4x higher than the national index of 100.
Compared to New Jersey, Elmwood Park has a cost of living index that's 1.1x higher than New Jersey's index of 122.
The standard of living in Elmwood Park ranks as #156 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Elmwood Park ranks as the #104 most expensive place in the Garden State.
For more reading on life in Elmwood Park, check out:
In New Jersey
In America
Elmwood Park Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Elmwood Park. Here is how it fairs on each of the criteria:
The Services index in Elmwood Park is 107.
The Groceries index in Elmwood Park is 104.
The Health index in Elmwood Park is 97.
The Housing index in Elmwood Park is 195.
The Transportation index in Elmwood Park is 109.
The Utilities index in Elmwood Park is 111.
| Living Expense | Elmwood Park | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 135 | 122 | 100 | |
| Services | 107 | 108 | 100 | |
| Groceries | 104 | 104 | 100 | |
| Health | 97 | 99 | 100 | |
| Housing | 195 | 159 | 100 | |
| Transportation | 109 | 101 | 100 | |
| Utilities | 111 | 107 | 100 | |
Elmwood Park, 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 Elmwood Park is $605,464.
The Median Rent in Elmwood Park is $2,025.
The Median Income in Elmwood Park is $100,852.
The Home Value To Income in Elmwood Park is 6.0x.
The Rent To Monthly Income in Elmwood Park is 0.24x.
| Statistic | Elmwood Park | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $605,464 | $564,432 | $303,400 |
| Median Rent | $2,025 | $1,653 | $1,348 |
| Median Income | $100,852 | $101,050 | $78,538 |
| Home Value To Income | 6.0x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.24x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Elmwood Park, NJ Costs By Category
Detailed Elmwood Park Services Costs Vs. New Jersey
| Item | Elmwood Park | New Jersey |
|---|---|---|
| Shampoo | $1.48 | $1.28 |
| Movie | $15.78 | $12.13 |
| Bowling | $21.0 | $18 |
| Haircut | $25.62 | $24.26 |
| Beauty Salon | $41.67 | $45.56 |
Detailed Elmwood Park Groceries Costs Vs. New Jersey
| Item | Elmwood Park | New Jersey |
|---|---|---|
| Ground Beef | $5.65 | $5.84 |
| Fried Chicken | $1.39 | $1.57 |
| Milk | $4.71 | $4.67 |
| Potatoes | $5.37 | $4.93 |
| Pizza | $11.49 | $12.09 |
| Beer | $11.33 | $10.41 |
| Toothpaste | $3.72 | $3.7 |
Detailed Elmwood Park Health Costs Vs. New Jersey
| Item | Elmwood Park | New Jersey |
|---|---|---|
| Optometrist | $157.11 | $125.68 |
| Doctor | $115.59 | $135.78 |
| Dentist | $124.27 | $113.29 |
Detailed Elmwood Park Transportation Costs Vs. New Jersey
| Item | Elmwood Park | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $82.67 | $59.92 |
Detailed Elmwood Park Utilities Costs Vs. New Jersey
| Item | Elmwood Park | New Jersey |
|---|---|---|
| All Electricity | $236.04 | $193.99 |
| Phone | $186.61 | $192.25 |
Elmwood Park SnackAbility
/10
Cost Of Living In Cities Around Elmwood Park
The cost of living varies in the cities and towns around Elmwood Park. Here's a quick look at the cost of living in the most populous nearby places:
Paterson, NJ has a cost of living index of 114, 0.8x Elmwood Park.
Clifton, NJ has a cost of living index of 127, 0.9x Elmwood Park.
Passaic, NJ has a cost of living index of 126, 0.9x Elmwood Park.
| City | Population | Cost Of Living | Vs. Elmwood Park |
|---|---|---|---|
| Paterson, NJ | 157,660 | 114 | 0.8x |
| Clifton, NJ | 89,247 | 127 | 0.9x |
| Passaic, NJ | 69,651 | 126 | 0.9x |
| Fair Lawn, NJ | 35,153 | 144 | 1.1x |
| Garfield, NJ | 32,502 | 130 | 1.0x |
| Lodi, NJ | 25,946 | 132 | 1.0x |
| Eastchester, NY | 20,519 | 167 | 1.2x |
| Scarsdale, NY | 18,005 | 279 | 2.1x |
| Glen Rock, NJ | 12,082 | 165 | 1.2x |
| Hasbrouck Heights, NJ | 12,067 | 138 | 1.0x |
