What is the cost of living in Florham Park, NJ?
According to the most recent data on the cost of living, Florham Park has an overall cost of living index of 174, which is 1.7x higher than the national index of 100.
Compared to New Jersey, Florham Park has a cost of living index that's 1.4x higher than New Jersey's index of 125.
The standard of living in Florham Park ranks as #236 most affordable out of the 262 places we measured in New Jersey. By definition, that implies Florham Park ranks as the #26 most expensive place in the Garden State.
For more reading on life in Florham Park, check out:
Florham Park Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Florham Park. Here is how it fares on each of the criteria:
The Services index in Florham Park is 107.
The Groceries index in Florham Park is 113.
The Health index in Florham Park is 323.
The Housing index in Florham Park is 110.
The Transportation index in Florham Park is 111.
The Utilities index in Florham Park is 108.
| Living Expense | Florham Park | New Jersey | National Average |
|---|---|---|---|
| Overall | 174 | 125 | 100 |
| Services | 107 | 107 | 100 |
| Groceries | 113 | 113 | 100 |
| Health | 323 | 155 | 100 |
| Housing | 110 | 116 | 100 |
| Transportation | 111 | 112 | 100 |
| Utilities | 108 | 113 | 100 |
Florham Park Cost Of Living Compared To New Jersey Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around New Jersey, check out:
Protect your home budget Compare home warranties in Florham Park Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Florham 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 2020-2024. The key points are:
The Median Home Value in Florham Park is $1,025,255.
The Median Rent in Florham Park is $3,109.
The Median Income in Florham Park is $158,696.
The Home Value To Income in Florham Park is 6.5x.
The Rent To Monthly Income in Florham Park is 0.24x.
| Statistic | Florham Park | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $1,025,255 | $569,411 | $332,700 |
| Median Rent | $3,109 | $1,720 | $1,413 |
| Median Income | $158,696 | $103,556 | $80,734 |
| Home Value To Income | 6.5x | 5.5x | 4.1x |
| Rent To Monthly Income | 0.24x | 0.2x | 0.21x |
Florham Park, NJ Costs By Category
Detailed Florham Park Services costs vs. New Jersey
| Item | Florham Park | 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 Florham Park Groceries costs vs. New Jersey
| Item | Florham Park | 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 Florham Park Health costs vs. New Jersey
| Item | Florham Park | New Jersey |
|---|---|---|
| Optometrist | $105.11 | $125.68 |
| Doctor | $117.94 | $135.78 |
| Dentist | $121.22 | $113.29 |
Detailed Florham Park Transportation costs vs. New Jersey
| Item | Florham Park | New Jersey |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $77.33 | $59.92 |
Detailed Florham Park Utilities costs vs. New Jersey
| Item | Florham Park | New Jersey |
|---|---|---|
| All Electricity | $230.68 | $193.99 |
| Phone | $186.61 | $192.25 |
Florham Park SnackAbility
Cost Of Living In Cities Around Florham Park
The cost of living varies in the cities and towns around Florham Park. 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 91, 0.5x Florham Park.
Westfield, NJ has a cost of living index of 182, 1.0x Florham Park.
Summit, NJ has a cost of living index of 190, 1.1x Florham Park.
| City | Population | Cost Of Living | Vs. Florham Park |
|---|---|---|---|
| Morristown, TN | 31,527 | 91 | 0.5x |
| Westfield, NJ | 31,111 | 182 | 1.0x |
| Summit, NJ | 22,705 | 190 | 1.1x |
| Madison, NJ | 16,447 | 178 | 1.0x |
| Short Hills, NJ | 14,923 | 263 | 1.5x |
| Bradley Gardens, NJ | 14,165 | 152 | 0.9x |
| New Providence, NJ | 13,727 | 167 | 1.0x |
| Oakland, NJ | 12,768 | 149 | 0.9x |
| Glen Rock, NJ | 12,154 | 174 | 1.0x |
| Hasbrouck Heights, NJ | 12,115 | 140 | 0.8x |
