What is the cost of living in New Providence, NJ?
According to the most recent data on the cost of living, New Providence has an overall cost of living index of 167, which is 1.7x higher than the national index of 100.
Compared to New Jersey, New Providence has a cost of living index that's 1.3x higher than New Jersey's index of 125.
The standard of living in New Providence ranks as #227 most affordable out of the 262 places we measured in New Jersey. By definition, that implies New Providence ranks as the #35 most expensive place in the Garden State.
For more reading on life in New Providence, check out:
New Providence Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in New Providence. Here is how it fares on each of the criteria:
The Services index in New Providence is 109.
The Groceries index in New Providence is 110.
The Health index in New Providence is 297.
The Housing index in New Providence is 109.
The Transportation index in New Providence is 107.
The Utilities index in New Providence is 108.
| Living Expense | New Providence | New Jersey | National Average |
|---|---|---|---|
| Overall | 167 | 125 | 100 |
| Services | 109 | 107 | 100 |
| Groceries | 110 | 113 | 100 |
| Health | 297 | 155 | 100 |
| Housing | 109 | 116 | 100 |
| Transportation | 107 | 112 | 100 |
| Utilities | 108 | 113 | 100 |
New Providence 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 New Providence Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
New Providence, 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 New Providence is $990,084.
The Median Rent in New Providence is $1,903.
The Median Income in New Providence is $161,599.
The Home Value To Income in New Providence is 6.1x.
The Rent To Monthly Income in New Providence is 0.14x.
| Statistic | New Providence | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $990,084 | $569,411 | $332,700 |
| Median Rent | $1,903 | $1,720 | $1,413 |
| Median Income | $161,599 | $103,556 | $80,734 |
| Home Value To Income | 6.1x | 5.5x | 4.1x |
| Rent To Monthly Income | 0.14x | 0.2x | 0.21x |
New Providence, NJ Costs By Category
Detailed New Providence Services costs vs. New Jersey
| Item | New Providence | 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 New Providence Groceries costs vs. New Jersey
| Item | New Providence | 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 New Providence Health costs vs. New Jersey
| Item | New Providence | New Jersey |
|---|---|---|
| Optometrist | $105.11 | $125.68 |
| Doctor | $117.94 | $135.78 |
| Dentist | $121.22 | $113.29 |
Detailed New Providence Transportation costs vs. New Jersey
| Item | New Providence | New Jersey |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $77.33 | $59.92 |
Detailed New Providence Utilities costs vs. New Jersey
| Item | New Providence | New Jersey |
|---|---|---|
| All Electricity | $230.68 | $193.99 |
| Phone | $186.61 | $192.25 |
New Providence SnackAbility
Cost Of Living In Cities Around New Providence
The cost of living varies in the cities and towns around New Providence. Here's a quick look at the cost of living in the most populous nearby places:
Westfield, NJ has a cost of living index of 182, 1.1x New Providence.
Summit, NJ has a cost of living index of 190, 1.1x New Providence.
Madison, NJ has a cost of living index of 178, 1.1x New Providence.
| City | Population | Cost Of Living | Vs. New Providence |
|---|---|---|---|
| Westfield, NJ | 31,111 | 182 | 1.1x |
| Summit, NJ | 22,705 | 190 | 1.1x |
| Madison, NJ | 16,447 | 178 | 1.1x |
| Short Hills, NJ | 14,923 | 263 | 1.6x |
| Bradley Gardens, NJ | 14,165 | 152 | 0.9x |
| Florham Park, NJ | 13,564 | 174 | 1.0x |
| Martinsville, NJ | 11,559 | 166 | 1.0x |
| Lincoln Park, NJ | 10,957 | 133 | 0.8x |
| Succasunna, NJ | 9,799 | 141 | 0.8x |
| Chatham, NJ | 9,407 | 190 | 1.1x |
