Madison Park, NJ Cost Of Living
Cost Of Living In Madison Park, NJ Summary
Cost of living in Madison 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 Madison 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 Madison Park is 120, with 100 being the average.
The cost of living index in Madison Park is 1.2x higher than the national average.
Madison Park ranks as the #87 cheapest in New Jersey out of 260.
Madison Park ranks as the #4,411 cheapest out of 6,489 in the US.
The median home value in Madison Park is $509,784.
The median income in Madison Park is $76,396.
Table Of Contents
Madison Park's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Madison Park, NJ?
According to the most recent data on the cost of living, Madison Park has an overall cost of living index of 120, which is 1.2x higher than the national index of 100.
Compared to New Jersey, Madison Park has a cost of living index that's 1.0x lower than New Jersey's index of 122.
The standard of living in Madison Park ranks as #87 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Madison Park ranks as the #173 most expensive place in the Garden State.
For more reading on life in Madison Park, check out:
In New Jersey
In America
Madison Park Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Madison Park. Here is how it fairs on each of the criteria:
The Services index in Madison Park is 111.
The Groceries index in Madison Park is 104.
The Health index in Madison Park is 103.
The Housing index in Madison Park is 156.
The Transportation index in Madison Park is 106.
The Utilities index in Madison Park is 110.
| Living Expense | Madison Park | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 120 | 122 | 100 | |
| Services | 111 | 108 | 100 | |
| Groceries | 104 | 104 | 100 | |
| Health | 103 | 99 | 100 | |
| Housing | 156 | 159 | 100 | |
| Transportation | 106 | 101 | 100 | |
| Utilities | 110 | 107 | 100 | |
Madison 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 Madison Park is $509,784.
The Median Rent in Madison Park is $1,558.
The Median Income in Madison Park is $76,396.
The Home Value To Income in Madison Park is 6.7x.
The Rent To Monthly Income in Madison Park is 0.24x.
| Statistic | Madison Park | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $509,784 | $564,432 | $303,400 |
| Median Rent | $1,558 | $1,653 | $1,348 |
| Median Income | $76,396 | $101,050 | $78,538 |
| Home Value To Income | 6.7x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.24x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Madison Park, NJ Costs By Category
Detailed Madison Park Services Costs Vs. New Jersey
| Item | Madison Park | 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 Madison Park Groceries Costs Vs. New Jersey
| Item | Madison Park | 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 Madison Park Health Costs Vs. New Jersey
| Item | Madison Park | New Jersey |
|---|---|---|
| Optometrist | $129.93 | $125.68 |
| Doctor | $124.1 | $135.78 |
| Dentist | $129.94 | $113.29 |
Detailed Madison Park Transportation Costs Vs. New Jersey
| Item | Madison Park | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $72.38 | $59.92 |
Detailed Madison Park Utilities Costs Vs. New Jersey
| Item | Madison Park | New Jersey |
|---|---|---|
| All Electricity | $223.08 | $193.99 |
| Phone | $186.61 | $192.25 |
Madison Park SnackAbility
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Cost Of Living In Cities Around Madison Park
The cost of living varies in the cities and towns around Madison Park. Here's a quick look at the cost of living in the most populous nearby places:
Sayreville, NJ has a cost of living index of 125, 1.0x Madison Park.
Westfield, NJ has a cost of living index of 178, 1.5x Madison Park.
Old Bridge, NJ has a cost of living index of 128, 1.1x Madison Park.
| City | Population | Cost Of Living | Vs. Madison Park |
|---|---|---|---|
| Sayreville, NJ | 45,237 | 125 | 1.0x |
| Westfield, NJ | 30,760 | 178 | 1.5x |
| Old Bridge, NJ | 28,015 | 128 | 1.1x |
| Colonia, NJ | 18,294 | 131 | 1.1x |
| South River, NJ | 16,007 | 121 | 1.0x |
| Middlesex, NJ | 14,518 | 126 | 1.1x |
| New Providence, NJ | 13,577 | 160 | 1.3x |
| Martinsville, NJ | 12,016 | 159 | 1.3x |
| South Amboy, NJ | 9,714 | 126 | 1.1x |
| Matawan, NJ | 9,636 | 129 | 1.1x |
