Monmouth Junction, NJ Cost Of Living
Cost Of Living In Monmouth Junction, NJ Summary
Cost of living in Monmouth Junction 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 Monmouth Junction 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 Monmouth Junction is 139, with 100 being the average.
The cost of living index in Monmouth Junction is 1.4x higher than the national average.
Monmouth Junction ranks as the #166 cheapest in New Jersey out of 260.
Monmouth Junction ranks as the #5,366 cheapest out of 6,489 in the US.
The median home value in Monmouth Junction is $690,711.
The median income in Monmouth Junction is $125,892.
Table Of Contents
Monmouth Junction's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Monmouth Junction, NJ?
According to the most recent data on the cost of living, Monmouth Junction has an overall cost of living index of 139, which is 1.4x higher than the national index of 100.
Compared to New Jersey, Monmouth Junction has a cost of living index that's 1.1x higher than New Jersey's index of 122.
The standard of living in Monmouth Junction ranks as #166 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Monmouth Junction ranks as the #94 most expensive place in the Garden State.
For more reading on life in Monmouth Junction, check out:
In New Jersey
In America
Monmouth Junction Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Monmouth Junction. Here is how it fairs on each of the criteria:
The Services index in Monmouth Junction is 112.
The Groceries index in Monmouth Junction is 101.
The Health index in Monmouth Junction is 101.
The Housing index in Monmouth Junction is 222.
The Transportation index in Monmouth Junction is 104.
The Utilities index in Monmouth Junction is 109.
| Living Expense | Monmouth Junction | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 139 | 122 | 100 | |
| Services | 112 | 108 | 100 | |
| Groceries | 101 | 104 | 100 | |
| Health | 101 | 99 | 100 | |
| Housing | 222 | 159 | 100 | |
| Transportation | 104 | 101 | 100 | |
| Utilities | 109 | 107 | 100 | |
Monmouth Junction, 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 Monmouth Junction is $690,711.
The Median Rent in Monmouth Junction is $1,880.
The Median Income in Monmouth Junction is $125,892.
The Home Value To Income in Monmouth Junction is 5.5x.
The Rent To Monthly Income in Monmouth Junction is 0.18x.
| Statistic | Monmouth Junction | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $690,711 | $564,432 | $303,400 |
| Median Rent | $1,880 | $1,653 | $1,348 |
| Median Income | $125,892 | $101,050 | $78,538 |
| Home Value To Income | 5.5x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.18x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Monmouth Junction, NJ Costs By Category
Detailed Monmouth Junction Services Costs Vs. New Jersey
| Item | Monmouth Junction | 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 Monmouth Junction Groceries Costs Vs. New Jersey
| Item | Monmouth Junction | 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 Monmouth Junction Health Costs Vs. New Jersey
| Item | Monmouth Junction | New Jersey |
|---|---|---|
| Optometrist | $129.93 | $125.68 |
| Doctor | $124.1 | $135.78 |
| Dentist | $129.94 | $113.29 |
Detailed Monmouth Junction Transportation Costs Vs. New Jersey
| Item | Monmouth Junction | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $72.38 | $59.92 |
Detailed Monmouth Junction Utilities Costs Vs. New Jersey
| Item | Monmouth Junction | New Jersey |
|---|---|---|
| All Electricity | $223.08 | $193.99 |
| Phone | $186.61 | $192.25 |
Monmouth Junction SnackAbility
/10
Cost Of Living In Cities Around Monmouth Junction
The cost of living varies in the cities and towns around Monmouth Junction. Here's a quick look at the cost of living in the most populous nearby places:
Colonia, NJ has a cost of living index of 131, 0.9x Monmouth Junction.
Princeton Meadows, NJ has a cost of living index of 153, 1.1x Monmouth Junction.
Middlesex, NJ has a cost of living index of 126, 0.9x Monmouth Junction.
| City | Population | Cost Of Living | Vs. Monmouth Junction |
|---|---|---|---|
| Colonia, NJ | 18,294 | 131 | 0.9x |
| Princeton Meadows, NJ | 15,382 | 153 | 1.1x |
| Middlesex, NJ | 14,518 | 126 | 0.9x |
| Bradley Gardens, NJ | 14,315 | 150 | 1.1x |
| Mercerville, NJ | 13,693 | 118 | 0.8x |
| Franklin Park, NJ | 13,327 | 125 | 0.9x |
| Martinsville, NJ | 12,016 | 159 | 1.1x |
| Hamilton Square, NJ | 11,643 | 125 | 0.9x |
| Kendall Park, NJ | 10,765 | 142 | 1.0x |
| White Horse, NJ | 10,040 | 115 | 0.8x |
