Norwood, NJ Cost Of Living
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.
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 | |
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.
| 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 |
Norwood SnackAbility
/10
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 |
|---|
