Ridgewood, NJ Cost Of Living
Cost Of Living In Ridgewood, NJ Summary
Cost of living in Ridgewood 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 Ridgewood 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 Ridgewood is 180, with 100 being the average.
The cost of living index in Ridgewood is 1.8x higher than the national average.
Ridgewood ranks as the #244 cheapest in New Jersey out of 260.
Ridgewood ranks as the #6,185 cheapest out of 6,489 in the US.
The median home value in Ridgewood is $1,174,051.
The median income in Ridgewood is $217,250.
Table Of Contents
Ridgewood's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Ridgewood, NJ?
According to the most recent data on the cost of living, Ridgewood has an overall cost of living index of 180, which is 1.8x higher than the national index of 100.
Compared to New Jersey, Ridgewood has a cost of living index that's 1.5x higher than New Jersey's index of 122.
The standard of living in Ridgewood ranks as #244 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Ridgewood ranks as the #16 most expensive place in the Garden State.
For more reading on life in Ridgewood, check out:
In New Jersey
In America
Ridgewood Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Ridgewood. Here is how it fairs on each of the criteria:
The Services index in Ridgewood is 109.
The Groceries index in Ridgewood is 102.
The Health index in Ridgewood is 94.
The Housing index in Ridgewood is 349.
The Transportation index in Ridgewood is 106.
The Utilities index in Ridgewood is 109.
| Living Expense | Ridgewood | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 180 | 122 | 100 | |
| Services | 109 | 108 | 100 | |
| Groceries | 102 | 104 | 100 | |
| Health | 94 | 99 | 100 | |
| Housing | 349 | 159 | 100 | |
| Transportation | 106 | 101 | 100 | |
| Utilities | 109 | 107 | 100 | |
Ridgewood, 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 Ridgewood is $1,174,051.
The Median Rent in Ridgewood is $2,340.
The Median Income in Ridgewood is $217,250.
The Home Value To Income in Ridgewood is 5.4x.
The Rent To Monthly Income in Ridgewood is 0.13x.
| Statistic | Ridgewood | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $1,174,051 | $564,432 | $303,400 |
| Median Rent | $2,340 | $1,653 | $1,348 |
| Median Income | $217,250 | $101,050 | $78,538 |
| Home Value To Income | 5.4x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.13x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Ridgewood, NJ Costs By Category
Detailed Ridgewood Services Costs Vs. New Jersey
| Item | Ridgewood | 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 Ridgewood Groceries Costs Vs. New Jersey
| Item | Ridgewood | 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 Ridgewood Health Costs Vs. New Jersey
| Item | Ridgewood | New Jersey |
|---|---|---|
| Optometrist | $157.11 | $125.68 |
| Doctor | $115.59 | $135.78 |
| Dentist | $124.27 | $113.29 |
Detailed Ridgewood Transportation Costs Vs. New Jersey
| Item | Ridgewood | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $82.67 | $59.92 |
Detailed Ridgewood Utilities Costs Vs. New Jersey
| Item | Ridgewood | New Jersey |
|---|---|---|
| All Electricity | $236.04 | $193.99 |
| Phone | $186.61 | $192.25 |
Ridgewood SnackAbility
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Cost Of Living In Cities Around Ridgewood
The cost of living varies in the cities and towns around Ridgewood. 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 144, 0.8x Ridgewood.
Paramus, NJ has a cost of living index of 169, 0.9x Ridgewood.
Eastchester, NY has a cost of living index of 167, 0.9x Ridgewood.
| City | Population | Cost Of Living | Vs. Ridgewood |
|---|---|---|---|
| Fair Lawn, NJ | 35,153 | 144 | 0.8x |
| Paramus, NJ | 26,500 | 169 | 0.9x |
| Eastchester, NY | 20,519 | 167 | 0.9x |
| Hawthorne, NJ | 19,472 | 135 | 0.8x |
| Scarsdale, NY | 18,005 | 279 | 1.6x |
| Glen Rock, NJ | 12,082 | 165 | 0.9x |
| Waldwick, NJ | 10,090 | 141 | 0.8x |
| North Haledon, NJ | 8,757 | 142 | 0.8x |
| Briarcliff Manor, NY | 7,333 | 178 | 1.0x |
| Midland Park, NJ | 6,996 | 148 | 0.8x |
