Oakland, NJ Cost Of Living
Cost Of Living In Oakland, NJ Summary
Cost of living in Oakland 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 Oakland 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 Oakland is 139, with 100 being the average.
The cost of living index in Oakland is 1.4x higher than the national average.
Oakland ranks as the #166 cheapest in New Jersey out of 260.
Oakland ranks as the #5,366 cheapest out of 6,489 in the US.
The median home value in Oakland is $742,007.
The median income in Oakland is $162,862.
Table Of Contents
Oakland's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Oakland, NJ?
According to the most recent data on the cost of living, Oakland has an overall cost of living index of 139, which is 1.4x higher than the national index of 100.
Compared to New Jersey, Oakland has a cost of living index that's 1.1x higher than New Jersey's index of 122.
The standard of living in Oakland ranks as #166 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Oakland ranks as the #94 most expensive place in the Garden State.
For more reading on life in Oakland, check out:
In New Jersey
In America
Oakland Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Oakland. Here is how it fairs on each of the criteria:
The Services index in Oakland is 100.
The Groceries index in Oakland is 103.
The Health index in Oakland is 98.
The Housing index in Oakland is 231.
The Transportation index in Oakland is 96.
The Utilities index in Oakland is 101.
| Living Expense | Oakland | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 139 | 122 | 100 | |
| Services | 100 | 108 | 100 | |
| Groceries | 103 | 104 | 100 | |
| Health | 98 | 99 | 100 | |
| Housing | 231 | 159 | 100 | |
| Transportation | 96 | 101 | 100 | |
| Utilities | 101 | 107 | 100 | |
Oakland, 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 Oakland is $742,007.
The Median Rent in Oakland is $1,462.
The Median Income in Oakland is $162,862.
The Home Value To Income in Oakland is 4.6x.
The Rent To Monthly Income in Oakland is 0.11x.
| Statistic | Oakland | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $742,007 | $564,432 | $303,400 |
| Median Rent | $1,462 | $1,653 | $1,348 |
| Median Income | $162,862 | $101,050 | $78,538 |
| Home Value To Income | 4.6x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.11x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Oakland, NJ Costs By Category
Detailed Oakland Services Costs Vs. New Jersey
| Item | Oakland | 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 Oakland Groceries Costs Vs. New Jersey
| Item | Oakland | 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 Oakland Health Costs Vs. New Jersey
| Item | Oakland | New Jersey |
|---|---|---|
| Optometrist | $105.11 | $125.68 |
| Doctor | $117.94 | $135.78 |
| Dentist | $121.22 | $113.29 |
Detailed Oakland Transportation Costs Vs. New Jersey
| Item | Oakland | New Jersey |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $77.33 | $59.92 |
Detailed Oakland Utilities Costs Vs. New Jersey
| Item | Oakland | New Jersey |
|---|---|---|
| All Electricity | $230.68 | $193.99 |
| Phone | $186.61 | $192.25 |
Oakland SnackAbility
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Cost Of Living In Cities Around Oakland
The cost of living varies in the cities and towns around Oakland. Here's a quick look at the cost of living in the most populous nearby places:
Ramsey, NJ has a cost of living index of 158, 1.1x Oakland.
Ringwood, NJ has a cost of living index of 130, 0.9x Oakland.
Dobbs Ferry, NY has a cost of living index of 173, 1.2x Oakland.
| City | Population | Cost Of Living | Vs. Oakland |
|---|---|---|---|
| Ramsey, NJ | 14,722 | 158 | 1.1x |
| Ringwood, NJ | 11,600 | 130 | 0.9x |
| Dobbs Ferry, NY | 11,397 | 173 | 1.2x |
| Wanaque, NJ | 11,162 | 121 | 0.9x |
| Franklin Lakes, NJ | 11,011 | 216 | 1.6x |
| Pompton Lakes, NJ | 11,010 | 122 | 0.9x |
| Lincoln Park, NJ | 10,901 | 124 | 0.9x |
| Hillcrest, NY | 8,989 | 140 | 1.0x |
| North Haledon, NJ | 8,757 | 142 | 1.0x |
| Hastings-on-Hudson, NY | 8,449 | 172 | 1.2x |
