Park Ridge, NJ Cost Of Living
Cost Of Living In Park Ridge, NJ Summary
Cost of living in Park Ridge 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 Park Ridge 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 Park Ridge is 167, with 100 being the average.
The cost of living index in Park Ridge is 1.7x higher than the national average.
Park Ridge ranks as the #230 cheapest in New Jersey out of 260.
Park Ridge ranks as the #6,016 cheapest out of 6,489 in the US.
The median home value in Park Ridge is $838,988.
The median income in Park Ridge is $165,391.
Table Of Contents
Park Ridge's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Park Ridge, NJ?
According to the most recent data on the cost of living, Park Ridge has an overall cost of living index of 167, which is 1.7x higher than the national index of 100.
Compared to New Jersey, Park Ridge has a cost of living index that's 1.4x higher than New Jersey's index of 122.
The standard of living in Park Ridge ranks as #230 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Park Ridge ranks as the #30 most expensive place in the Garden State.
For more reading on life in Park Ridge, check out:
In New Jersey
In America
Park Ridge Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Park Ridge. Here is how it fairs on each of the criteria:
The Services index in Park Ridge is 126.
The Groceries index in Park Ridge is 113.
The Health index in Park Ridge is 123.
The Housing index in Park Ridge is 278.
The Transportation index in Park Ridge is 116.
The Utilities index in Park Ridge is 101.
| Living Expense | Park Ridge | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 167 | 122 | 100 | |
| Services | 126 | 108 | 100 | |
| Groceries | 113 | 102 | 100 | |
| Health | 123 | 97 | 100 | |
| Housing | 278 | 160 | 100 | |
| Transportation | 116 | 103 | 100 | |
| Utilities | 101 | 109 | 100 | |
Park Ridge, 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 Park Ridge is $838,988.
The Median Rent in Park Ridge is $1,995.
The Median Income in Park Ridge is $165,391.
The Home Value To Income in Park Ridge is 5.1x.
The Rent To Monthly Income in Park Ridge is 0.14x.
| Statistic | Park Ridge | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $838,988 | $564,432 | $303,400 |
| Median Rent | $1,995 | $1,653 | $1,348 |
| Median Income | $165,391 | $101,050 | $78,538 |
| Home Value To Income | 5.1x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.14x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Park Ridge, NJ Costs By Category
Detailed Park Ridge Services Costs Vs. New Jersey
| Item | Park Ridge | New Jersey |
|---|---|---|
| Shampoo | $1.69 | $1.28 |
| Movie | $13.68 | $12.13 |
| Bowling | $29.4 | $18.0 |
| Haircut | $34.94 | $24.26 |
| Beauty Salon | $64.07 | $45.56 |
Detailed Park Ridge Groceries Costs Vs. New Jersey
| Item | Park Ridge | 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 Park Ridge Health Costs Vs. New Jersey
| Item | Park Ridge | New Jersey |
|---|---|---|
| Optometrist | $128.97 | $125.68 |
| Doctor | $162.24 | $135.78 |
| Dentist | $149.64 | $113.29 |
Detailed Park Ridge Transportation Costs Vs. New Jersey
| Item | Park Ridge | New Jersey |
|---|---|---|
| Gasoline | $3.55 | $3.46 |
| Tire Balancing | $86.43 | $59.92 |
Detailed Park Ridge Utilities Costs Vs. New Jersey
| Item | Park Ridge | New Jersey |
|---|---|---|
| All Electricity | $201.27 | $193.99 |
| Phone | $200.67 | $192.25 |
Park Ridge SnackAbility
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Cost Of Living In Cities Around Park Ridge
The cost of living varies in the cities and towns around Park Ridge. Here's a quick look at the cost of living in the most populous nearby places:
Eastchester, NY has a cost of living index of 167, 1.0x Park Ridge.
Mamaroneck, NY has a cost of living index of 166, 1.0x Park Ridge.
Pearl River, NY has a cost of living index of 148, 0.9x Park Ridge.
| City | Population | Cost Of Living | Vs. Park Ridge |
|---|---|---|---|
| Eastchester, NY | 20,519 | 167 | 1.0x |
| Mamaroneck, NY | 19,840 | 166 | 1.0x |
| Pearl River, NY | 16,282 | 148 | 0.9x |
| Westwood, NJ | 11,221 | 155 | 0.9x |
| Chestnut Ridge, NY | 10,464 | 149 | 0.9x |
| Hillsdale, NJ | 10,086 | 160 | 1.0x |
| Montvale, NJ | 8,625 | 171 | 1.0x |
| Upper Saddle River, NJ | 8,354 | 209 | 1.3x |
| Pleasantville, NY | 7,395 | 176 | 1.1x |
| Briarcliff Manor, NY | 7,333 | 178 | 1.1x |
