What is the cost of living in Red Bank, NJ?
According to the most recent data on the cost of living, Red Bank has an overall cost of living index of 139, which is 1.4x higher than the national index of 100.
Compared to New Jersey, Red Bank has a cost of living index that's 1.1x higher than New Jersey's index of 125.
The standard of living in Red Bank ranks as #167 most affordable out of the 262 places we measured in New Jersey. By definition, that implies Red Bank ranks as the #95 most expensive place in the Garden State.
For more reading on life in Red Bank, check out:
Red Bank Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Red Bank. Here is how it fares on each of the criteria:
The Services index in Red Bank is 107.
The Groceries index in Red Bank is 110.
The Health index in Red Bank is 210.
The Housing index in Red Bank is 115.
The Transportation index in Red Bank is 108.
The Utilities index in Red Bank is 114.
| Living Expense | Red Bank | New Jersey | National Average |
|---|---|---|---|
| Overall | 139 | 125 | 100 |
| Services | 107 | 107 | 100 |
| Groceries | 110 | 113 | 100 |
| Health | 210 | 155 | 100 |
| Housing | 115 | 116 | 100 |
| Transportation | 108 | 112 | 100 |
| Utilities | 114 | 113 | 100 |
Red Bank 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 Red Bank Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Red Bank, 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 Red Bank is $693,364.
The Median Rent in Red Bank is $2,026.
The Median Income in Red Bank is $97,477.
The Home Value To Income in Red Bank is 7.1x.
The Rent To Monthly Income in Red Bank is 0.25x.
| Statistic | Red Bank | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $693,364 | $569,411 | $332,700 |
| Median Rent | $2,026 | $1,720 | $1,413 |
| Median Income | $97,477 | $103,556 | $80,734 |
| Home Value To Income | 7.1x | 5.5x | 4.1x |
| Rent To Monthly Income | 0.25x | 0.2x | 0.21x |
Red Bank, NJ Costs By Category
Detailed Red Bank Services costs vs. New Jersey
| Item | Red Bank | 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 Red Bank Groceries costs vs. New Jersey
| Item | Red Bank | 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 Red Bank Health costs vs. New Jersey
| Item | Red Bank | New Jersey |
|---|---|---|
| Optometrist | $128.97 | $125.68 |
| Doctor | $162.24 | $135.78 |
| Dentist | $149.64 | $113.29 |
Detailed Red Bank Transportation costs vs. New Jersey
| Item | Red Bank | New Jersey |
|---|---|---|
| Gasoline | $3.55 | $3.46 |
| Tire Balancing | $86.43 | $59.92 |
Detailed Red Bank Utilities costs vs. New Jersey
| Item | Red Bank | New Jersey |
|---|---|---|
| All Electricity | $201.27 | $193.99 |
| Phone | $200.67 | $192.25 |
Red Bank SnackAbility
Cost Of Living In Cities Around Red Bank
The cost of living varies in the cities and towns around Red Bank. Here's a quick look at the cost of living in the most populous nearby places:
Tinton Falls, NJ has a cost of living index of 139, 1.0x Red Bank.
Fairview, NJ has a cost of living index of 151, 1.1x Red Bank.
West Freehold, NJ has a cost of living index of 140, 1.0x Red Bank.
| City | Population | Cost Of Living | Vs. Red Bank |
|---|---|---|---|
| Tinton Falls, NJ | 19,361 | 139 | 1.0x |
| Fairview, NJ | 15,099 | 151 | 1.1x |
| West Freehold, NJ | 14,883 | 140 | 1.0x |
| Fords, NJ | 12,771 | 129 | 0.9x |
| Freehold, NJ | 12,507 | 130 | 0.9x |
| Yorketown, NJ | 7,261 | 142 | 1.0x |
| Rumson, NJ | 7,241 | 238 | 1.7x |
| Lincroft, NJ | 6,939 | 151 | 1.1x |
| Strathmore, NJ | 6,708 | 137 | 1.0x |
| Ramtown, NJ | 6,203 | 142 | 1.0x |
