Fanwood, NJ Cost Of Living
Cost Of Living In Fanwood, NJ Summary
Cost of living in Fanwood 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 Fanwood 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 Fanwood is 150, with 100 being the average.
The cost of living index in Fanwood is 1.5x higher than the national average.
Fanwood ranks as the #202 cheapest in New Jersey out of 260.
Fanwood ranks as the #5,692 cheapest out of 6,489 in the US.
The median home value in Fanwood is $773,431.
The median income in Fanwood is $176,667.
Table Of Contents
Fanwood's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Fanwood, NJ?
According to the most recent data on the cost of living, Fanwood has an overall cost of living index of 150, which is 1.5x higher than the national index of 100.
Compared to New Jersey, Fanwood has a cost of living index that's 1.2x higher than New Jersey's index of 122.
The standard of living in Fanwood ranks as #202 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Fanwood ranks as the #58 most expensive place in the Garden State.
For more reading on life in Fanwood, check out:
In New Jersey
In America
Fanwood Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Fanwood. Here is how it fairs on each of the criteria:
The Services index in Fanwood is 112.
The Groceries index in Fanwood is 104.
The Health index in Fanwood is 100.
The Housing index in Fanwood is 245.
The Transportation index in Fanwood is 104.
The Utilities index in Fanwood is 106.
| Living Expense | Fanwood | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 150 | 122 | 100 | |
| Services | 112 | 108 | 100 | |
| Groceries | 104 | 104 | 100 | |
| Health | 100 | 99 | 100 | |
| Housing | 245 | 159 | 100 | |
| Transportation | 104 | 101 | 100 | |
| Utilities | 106 | 107 | 100 | |
Fanwood, 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 Fanwood is $773,431.
The Median Rent in Fanwood is $2,368.
The Median Income in Fanwood is $176,667.
The Home Value To Income in Fanwood is 4.4x.
The Rent To Monthly Income in Fanwood is 0.16x.
| Statistic | Fanwood | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $773,431 | $564,432 | $303,400 |
| Median Rent | $2,368 | $1,653 | $1,348 |
| Median Income | $176,667 | $101,050 | $78,538 |
| Home Value To Income | 4.4x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.16x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Fanwood, NJ Costs By Category
Detailed Fanwood Services Costs Vs. New Jersey
| Item | Fanwood | 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 Fanwood Groceries Costs Vs. New Jersey
| Item | Fanwood | 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 Fanwood Health Costs Vs. New Jersey
| Item | Fanwood | New Jersey |
|---|---|---|
| Optometrist | $129.93 | $125.68 |
| Doctor | $124.1 | $135.78 |
| Dentist | $129.94 | $113.29 |
Detailed Fanwood Transportation Costs Vs. New Jersey
| Item | Fanwood | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $72.38 | $59.92 |
Detailed Fanwood Utilities Costs Vs. New Jersey
| Item | Fanwood | New Jersey |
|---|---|---|
| All Electricity | $223.08 | $193.99 |
| Phone | $186.61 | $192.25 |
Fanwood SnackAbility
/10
Cost Of Living In Cities Around Fanwood
The cost of living varies in the cities and towns around Fanwood. Here's a quick look at the cost of living in the most populous nearby places:
Plainfield, NJ has a cost of living index of 118, 0.8x Fanwood.
Westfield, NJ has a cost of living index of 178, 1.2x Fanwood.
South Plainfield, NJ has a cost of living index of 132, 0.9x Fanwood.
| City | Population | Cost Of Living | Vs. Fanwood |
|---|---|---|---|
| Plainfield, NJ | 54,515 | 118 | 0.8x |
| Westfield, NJ | 30,760 | 178 | 1.2x |
| South Plainfield, NJ | 24,231 | 132 | 0.9x |
| North Plainfield, NJ | 22,667 | 121 | 0.8x |
| Summit, NJ | 22,512 | 183 | 1.2x |
| Colonia, NJ | 18,294 | 131 | 0.9x |
| Middlesex, NJ | 14,518 | 126 | 0.8x |
| Bradley Gardens, NJ | 14,315 | 150 | 1.0x |
| New Providence, NJ | 13,577 | 160 | 1.1x |
| Florham Park, NJ | 13,134 | 165 | 1.1x |
