What is the cost of living in Paramus, NJ?
According to the most recent data on the cost of living, Paramus has an overall cost of living index of 175, which is 1.8x higher than the national index of 100.
Compared to New Jersey, Paramus has a cost of living index that's 1.4x higher than New Jersey's index of 125.
The standard of living in Paramus ranks as #239 most affordable out of the 262 places we measured in New Jersey. By definition, that implies Paramus ranks as the #23 most expensive place in the Garden State.
For more reading on life in Paramus, check out:
Paramus Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Paramus. Here is how it fares on each of the criteria:
The Services index in Paramus is 108.
The Groceries index in Paramus is 109.
The Health index in Paramus is 320.
The Housing index in Paramus is 109.
The Transportation index in Paramus is 109.
The Utilities index in Paramus is 112.
| Living Expense | Paramus | New Jersey | National Average |
|---|---|---|---|
| Overall | 175 | 125 | 100 |
| Services | 108 | 107 | 100 |
| Groceries | 109 | 113 | 100 |
| Health | 320 | 155 | 100 |
| Housing | 109 | 116 | 100 |
| Transportation | 109 | 112 | 100 |
| Utilities | 112 | 113 | 100 |
Paramus 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 Paramus Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Paramus, 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 Paramus is $1,039,756.
The Median Rent in Paramus is $3,032.
The Median Income in Paramus is $144,349.
The Home Value To Income in Paramus is 7.2x.
The Rent To Monthly Income in Paramus is 0.25x.
| Statistic | Paramus | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $1,039,756 | $569,411 | $332,700 |
| Median Rent | $3,032 | $1,720 | $1,413 |
| Median Income | $144,349 | $103,556 | $80,734 |
| Home Value To Income | 7.2x | 5.5x | 4.1x |
| Rent To Monthly Income | 0.25x | 0.2x | 0.21x |
Paramus, NJ Costs By Category
Detailed Paramus Services costs vs. New Jersey
| Item | Paramus | New Jersey |
|---|---|---|
| Shampoo | $1.48 | $1.28 |
| Movie | $15.78 | $12.13 |
| Bowling | $21.0 | $18 |
| Haircut | $25.62 | $24.26 |
| Beauty Salon | $41.67 | $45.56 |
Detailed Paramus Groceries costs vs. New Jersey
| Item | Paramus | New Jersey |
|---|---|---|
| Ground Beef | $5.65 | $5.84 |
| Fried Chicken | $1.39 | $1.57 |
| Milk | $4.71 | $4.67 |
| Potatoes | $5.37 | $4.93 |
| Pizza | $11.49 | $12.09 |
| Beer | $11.33 | $10.41 |
| Toothpaste | $3.72 | $3.7 |
Detailed Paramus Health costs vs. New Jersey
| Item | Paramus | New Jersey |
|---|---|---|
| Optometrist | $157.11 | $125.68 |
| Doctor | $115.59 | $135.78 |
| Dentist | $124.27 | $113.29 |
Detailed Paramus Transportation costs vs. New Jersey
| Item | Paramus | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $82.67 | $59.92 |
Detailed Paramus Utilities costs vs. New Jersey
| Item | Paramus | New Jersey |
|---|---|---|
| All Electricity | $236.04 | $193.99 |
| Phone | $186.61 | $192.25 |
Paramus SnackAbility
Cost Of Living In Cities Around Paramus
The cost of living varies in the cities and towns around Paramus. Here's a quick look at the cost of living in the most populous nearby places:
Fair Lawn, NJ has a cost of living index of 145, 0.8x Paramus.
Ridgewood, NJ has a cost of living index of 182, 1.0x Paramus.
Eastchester, NY has a cost of living index of 168, 1.0x Paramus.
| City | Population | Cost Of Living | Vs. Paramus |
|---|---|---|---|
| Fair Lawn, NJ | 35,610 | 145 | 0.8x |
| Ridgewood, NJ | 26,308 | 182 | 1.0x |
| Eastchester, NY | 20,491 | 168 | 1.0x |
| Mamaroneck, NY | 19,826 | 165 | 0.9x |
| New Milford, NJ | 16,995 | 140 | 0.8x |
| Glen Rock, NJ | 12,154 | 174 | 1.0x |
| River Edge, NJ | 12,091 | 152 | 0.9x |
| Westwood, NJ | 11,283 | 147 | 0.8x |
| Maywood, NJ | 10,093 | 137 | 0.8x |
| Oradell, NJ | 8,235 | 170 | 1.0x |
