What is the cost of living in Prospect Park, NJ?
According to the most recent data on the cost of living, Prospect Park has an overall cost of living index of 126, which is 1.3x higher than the national index of 100.
Compared to New Jersey, Prospect Park has a cost of living index that's 1.0x higher than New Jersey's index of 125.
The standard of living in Prospect Park ranks as #93 most affordable out of the 262 places we measured in New Jersey. By definition, that implies Prospect Park ranks as the #169 most expensive place in the Garden State.
For more reading on life in Prospect Park, check out:
Prospect Park Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Prospect Park. Here is how it fares on each of the criteria:
The Services index in Prospect Park is 108.
The Groceries index in Prospect Park is 114.
The Health index in Prospect Park is 151.
The Housing index in Prospect Park is 121.
The Transportation index in Prospect Park is 113.
The Utilities index in Prospect Park is 114.
| Living Expense | Prospect Park | New Jersey | National Average |
|---|---|---|---|
| Overall | 126 | 125 | 100 |
| Services | 108 | 107 | 100 |
| Groceries | 114 | 113 | 100 |
| Health | 151 | 155 | 100 |
| Housing | 121 | 116 | 100 |
| Transportation | 113 | 112 | 100 |
| Utilities | 114 | 113 | 100 |
Prospect Park 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 Prospect Park Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Prospect Park, 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 Prospect Park is $535,126.
The Median Rent in Prospect Park is $1,647.
The Median Income in Prospect Park is $53,125.
The Home Value To Income in Prospect Park is 10.1x.
The Rent To Monthly Income in Prospect Park is 0.37x.
| Statistic | Prospect Park | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $535,126 | $569,411 | $332,700 |
| Median Rent | $1,647 | $1,720 | $1,413 |
| Median Income | $53,125 | $103,556 | $80,734 |
| Home Value To Income | 10.1x | 5.5x | 4.1x |
| Rent To Monthly Income | 0.37x | 0.2x | 0.21x |
Prospect Park, NJ Costs By Category
Detailed Prospect Park Services costs vs. New Jersey
| Item | Prospect Park | 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 Prospect Park Groceries costs vs. New Jersey
| Item | Prospect Park | 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 Prospect Park Health costs vs. New Jersey
| Item | Prospect Park | New Jersey |
|---|---|---|
| Optometrist | $157.11 | $125.68 |
| Doctor | $115.59 | $135.78 |
| Dentist | $124.27 | $113.29 |
Detailed Prospect Park Transportation costs vs. New Jersey
| Item | Prospect Park | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $82.67 | $59.92 |
Detailed Prospect Park Utilities costs vs. New Jersey
| Item | Prospect Park | New Jersey |
|---|---|---|
| All Electricity | $236.04 | $193.99 |
| Phone | $186.61 | $192.25 |
Prospect Park SnackAbility
Cost Of Living In Cities Around Prospect Park
The cost of living varies in the cities and towns around Prospect Park. Here's a quick look at the cost of living in the most populous nearby places:
Paterson, NJ has a cost of living index of 121, 1.0x Prospect Park.
Fair Lawn, NJ has a cost of living index of 145, 1.2x Prospect Park.
Elmwood Park, NJ has a cost of living index of 138, 1.1x Prospect Park.
| City | Population | Cost Of Living | Vs. Prospect Park |
|---|---|---|---|
| Paterson, NJ | 158,735 | 121 | 1.0x |
| Fair Lawn, NJ | 35,610 | 145 | 1.2x |
| Elmwood Park, NJ | 21,412 | 138 | 1.1x |
| Eastchester, NY | 20,491 | 168 | 1.3x |
| Hawthorne, NJ | 19,628 | 140 | 1.1x |
| Woodland Park, NJ | 13,355 | 135 | 1.1x |
| Glen Rock, NJ | 12,154 | 174 | 1.4x |
| Dobbs Ferry, NY | 11,443 | 173 | 1.4x |
| Totowa, NJ | 10,959 | 138 | 1.1x |
| Hillcrest, NY | 9,071 | 141 | 1.1x |
