Norwood, NJ Cost Of Living

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Updated: 2020-03-08
Norwood's Overall Cost Of Living
Higher Than The National Average
The cost of living index is set to 100 for the average place in America. An index above 100 means Norwood is expensive, while a number below 100 means it's a relatively cheap place to live.

What is the cost of living in Norwood, NJ?

According to the most recent data on the cost of living, Norwood has an overall cost of living index of 163 which is 1.6x higher than the national index of 100.

Compared to only New Jersey, Norwood has a cost of living index that's 1.3x higher than New Jersey's index of 123.

The standard of living in Norwood ranks as #6041 most affordable out of the 6522 places we measured in New Jersey. By definition, that implies Norwood ranks as the #365 most expensive place in the Garden State.

For more reading on life in Norwood, check out:

Norwood Cost Of Living Vs. New Jersey

Living Expense Norwood New Jersey National Average
Overall 163 123 100
Services 114 111 100
Groceries 108 110 100
Health 107 102 100
Housing 284 158 100
Transportation 111 110 100
Utilities 105 100 100
For more reading on cost of living around New Jersey, check out:
Norwood Cost of Living Vs. NJ

Norwood, NJ Housing Cost Breakdown

Housing swings affordability the most between places in New Jersey, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

Median Home Value
Median Rent
Median Income
Statistic Norwood New Jersey United States
Median Home Value $631,000 $327,900 $204,900
Median Rent $1,732 $1,295 $1,023
Median Income $127,386 $79,363 $60,293
Home Value To Income 5.0x 4.1x 3.4x
Rent To Monthly Income 0.16x 0.2x 0.2x

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Cost Of Living In Cities Around Norwood

City Population Cost Of Living Vs. Norwood
Mamaroneck, NY 19,213 168 1.0x
Port Washington, NY 15,600 185 1.1x
Closter, NJ 8,585 168 1.0x
Briarcliff Manor, NY 7,697 174 1.1x
Pleasantville, NY 7,214 164 1.0x
Tappan, NY 6,996 152 0.9x
Irvington, NY 6,539 167 1.0x
Bronxville, NY 6,394 216 1.3x
Larchmont, NY 6,092 223 1.4x
Old Tappan, NJ 5,923 182 1.1x

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