Ringwood, NJ Cost Of Living
Cost Of Living In Ringwood, NJ Summary
Cost of living in Ringwood 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 Ringwood 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 Ringwood is 130, with 100 being the average.
The cost of living index in Ringwood is 1.3x higher than the national average.
Ringwood ranks as the #132 cheapest in New Jersey out of 260.
Ringwood ranks as the #4,989 cheapest out of 6,489 in the US.
The median home value in Ringwood is $585,668.
The median income in Ringwood is $142,529.
Table Of Contents
Ringwood's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Ringwood, NJ?
According to the most recent data on the cost of living, Ringwood has an overall cost of living index of 130, which is 1.3x higher than the national index of 100.
Compared to New Jersey, Ringwood has a cost of living index that's 1.1x higher than New Jersey's index of 122.
The standard of living in Ringwood ranks as #132 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Ringwood ranks as the #128 most expensive place in the Garden State.
For more reading on life in Ringwood, check out:
In New Jersey
In America
Ringwood Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Ringwood. Here is how it fairs on each of the criteria:
The Services index in Ringwood is 101.
The Groceries index in Ringwood is 103.
The Health index in Ringwood is 98.
The Housing index in Ringwood is 193.
The Transportation index in Ringwood is 95.
The Utilities index in Ringwood is 101.
| Living Expense | Ringwood | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 130 | 122 | 100 | |
| Services | 101 | 108 | 100 | |
| Groceries | 103 | 104 | 100 | |
| Health | 98 | 99 | 100 | |
| Housing | 193 | 159 | 100 | |
| Transportation | 95 | 101 | 100 | |
| Utilities | 101 | 107 | 100 | |
Ringwood, 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 Ringwood is $585,668.
The Median Rent in Ringwood is $1,934.
The Median Income in Ringwood is $142,529.
The Home Value To Income in Ringwood is 4.1x.
The Rent To Monthly Income in Ringwood is 0.16x.
| Statistic | Ringwood | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $585,668 | $564,432 | $303,400 |
| Median Rent | $1,934 | $1,653 | $1,348 |
| Median Income | $142,529 | $101,050 | $78,538 |
| Home Value To Income | 4.1x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.16x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Ringwood, NJ Costs By Category
Detailed Ringwood Services Costs Vs. New Jersey
| Item | Ringwood | New Jersey |
|---|---|---|
| Shampoo | $1.44 | $1.28 |
| Movie | $14.15 | $12.13 |
| Bowling | $25.03 | $18 |
| Haircut | $29.17 | $24.26 |
| Beauty Salon | $40.36 | $45.56 |
Detailed Ringwood Groceries Costs Vs. New Jersey
| Item | Ringwood | New Jersey |
|---|---|---|
| Ground Beef | $5.64 | $5.84 |
| Fried Chicken | $1.55 | $1.57 |
| Milk | $4.74 | $4.67 |
| Potatoes | $5.21 | $4.93 |
| Pizza | $11.49 | $12.09 |
| Beer | $11.66 | $10.41 |
| Toothpaste | $3.66 | $3.7 |
Detailed Ringwood Health Costs Vs. New Jersey
| Item | Ringwood | New Jersey |
|---|---|---|
| Optometrist | $105.11 | $125.68 |
| Doctor | $117.94 | $135.78 |
| Dentist | $121.22 | $113.29 |
Detailed Ringwood Transportation Costs Vs. New Jersey
| Item | Ringwood | New Jersey |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $77.33 | $59.92 |
Detailed Ringwood Utilities Costs Vs. New Jersey
| Item | Ringwood | New Jersey |
|---|---|---|
| All Electricity | $230.68 | $193.99 |
| Phone | $186.61 | $192.25 |
Ringwood SnackAbility
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Cost Of Living In Cities Around Ringwood
The cost of living varies in the cities and towns around Ringwood. Here's a quick look at the cost of living in the most populous nearby places:
Ramsey, NJ has a cost of living index of 158, 1.2x Ringwood.
Oakland, NJ has a cost of living index of 139, 1.1x Ringwood.
Stony Point, NY has a cost of living index of 135, 1.0x Ringwood.
| City | Population | Cost Of Living | Vs. Ringwood |
|---|---|---|---|
| Ramsey, NJ | 14,722 | 158 | 1.2x |
| Oakland, NJ | 12,700 | 139 | 1.1x |
| Stony Point, NY | 12,694 | 135 | 1.0x |
| Suffern, NY | 11,395 | 125 | 1.0x |
| Wanaque, NJ | 11,162 | 121 | 0.9x |
| Franklin Lakes, NJ | 11,011 | 216 | 1.7x |
| Pompton Lakes, NJ | 11,010 | 122 | 0.9x |
| Lincoln Park, NJ | 10,901 | 124 | 1.0x |
| Chestnut Ridge, NY | 10,464 | 149 | 1.1x |
| Hillcrest, NY | 8,989 | 140 | 1.1x |
