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 172, which is 1.7x higher than the national index of 100.
Compared to New Jersey, Norwood has a cost of living index that's 1.4x higher than New Jersey's index of 125.
The standard of living in Norwood ranks as #232 most affordable out of the 262 places we measured in New Jersey. By definition, that implies Norwood ranks as the #30 most expensive place in the Garden State.
For more reading on life in Norwood, check out:
Norwood Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Norwood. Here is how it fares on each of the criteria:
The Services index in Norwood is 110.
The Groceries index in Norwood is 110.
The Health index in Norwood is 306.
The Housing index in Norwood is 116.
The Transportation index in Norwood is 112.
The Utilities index in Norwood is 119.
| Living Expense | Norwood | New Jersey | National Average |
|---|---|---|---|
| Overall | 172 | 125 | 100 |
| Services | 110 | 107 | 100 |
| Groceries | 110 | 113 | 100 |
| Health | 306 | 155 | 100 |
| Housing | 116 | 116 | 100 |
| Transportation | 112 | 112 | 100 |
| Utilities | 119 | 113 | 100 |
Norwood 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 Norwood Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Norwood, 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 Norwood is $898,893.
The Median Rent in Norwood is $2,094.
The Median Income in Norwood is $178,311.
The Home Value To Income in Norwood is 5.0x.
The Rent To Monthly Income in Norwood is 0.14x.
| Statistic | Norwood | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $898,893 | $569,411 | $332,700 |
| Median Rent | $2,094 | $1,720 | $1,413 |
| Median Income | $178,311 | $103,556 | $80,734 |
| Home Value To Income | 5.0x | 5.5x | 4.1x |
| Rent To Monthly Income | 0.14x | 0.2x | 0.21x |
Norwood, NJ Costs By Category
Detailed Norwood Services costs vs. New Jersey
| Item | Norwood | New Jersey |
|---|---|---|
| Shampoo | $1.69 | $1.28 |
| Movie | $13.68 | $12.13 |
| Bowling | $29.4 | $18 |
| Haircut | $34.94 | $24.26 |
| Beauty Salon | $64.07 | $45.56 |
Detailed Norwood Groceries costs vs. New Jersey
| Item | Norwood | New Jersey |
|---|---|---|
| Ground Beef | $5.87 | $5.84 |
| Fried Chicken | $1.46 | $1.57 |
| Milk | $4.97 | $4.67 |
| Potatoes | $5.21 | $4.93 |
| Pizza | $12.57 | $12.09 |
| Beer | $11.87 | $10.41 |
| Toothpaste | $3.96 | $3.7 |
Detailed Norwood Health costs vs. New Jersey
| Item | Norwood | New Jersey |
|---|---|---|
| Optometrist | $128.97 | $125.68 |
| Doctor | $162.24 | $135.78 |
| Dentist | $149.64 | $113.29 |
Detailed Norwood Transportation costs vs. New Jersey
| Item | Norwood | New Jersey |
|---|---|---|
| Gasoline | $3.55 | $3.46 |
| Tire Balancing | $86.43 | $59.92 |
Detailed Norwood Utilities costs vs. New Jersey
| Item | Norwood | New Jersey |
|---|---|---|
| All Electricity | $201.27 | $193.99 |
| Phone | $200.67 | $192.25 |
Norwood SnackAbility
Cost Of Living In Cities Around Norwood
The cost of living varies in the cities and towns around Norwood. Here's a quick look at the cost of living in the most populous nearby places:
Mamaroneck, NY has a cost of living index of 165, 1.0x Norwood.
Port Washington, NY has a cost of living index of 196, 1.1x Norwood.
Closter, NJ has a cost of living index of 176, 1.0x Norwood.
| City | Population | Cost Of Living | Vs. Norwood |
|---|---|---|---|
| Mamaroneck, NY | 19,826 | 165 | 1.0x |
| Port Washington, NY | 18,004 | 196 | 1.1x |
| Closter, NJ | 8,606 | 176 | 1.0x |
| Briarcliff Manor, NY | 7,519 | 178 | 1.0x |
| Pleasantville, NY | 7,371 | 178 | 1.0x |
| Tappan, NY | 6,687 | 162 | 0.9x |
| Larchmont, NY | 6,567 | 234 | 1.4x |
| Irvington, NY | 6,531 | 173 | 1.0x |
| Bronxville, NY | 6,510 | 235 | 1.4x |
| Old Tappan, NJ | 6,008 | 189 | 1.1x |
