Ringwood, NJ Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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 127, with 100 being the average.

  • The cost of living index in Ringwood is 1.3x higher than the national average.

  • Ringwood ranks as the #126 cheapest in New Jersey out of 251.

  • Ringwood ranks as the #5,140 cheapest out of 6,412 in the US.

  • The median home value in Ringwood is $370,900.

  • The median income in Ringwood is $130,833.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
127
Ringwood's Overall Cost Of Living
1.3x
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 127, 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 111.

The standard of living in Ringwood ranks as #126 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Ringwood ranks as the #125 most expensive place in the Garden State.

For more reading on life in Ringwood, check out:

126 out of 251
In New Jersey
5,140 out of 6,412
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 103.

  • The Groceries index in Ringwood is 117.

  • The Health index in Ringwood is 99.

  • The Housing index in Ringwood is 169.

  • The Transportation index in Ringwood is 110.

  • The Utilities index in Ringwood is 93.

Living Expense Ringwood New Jersey National Average
Overall 127 111 100
Services 103 104 100
Groceries 117 104 100
Health 99 95 100
Housing 169 130 100
Transportation 110 106 100
Utilities 93 108 100
For more reading on cost of living around New Jersey, check out:
Ringwood Cost of Living Vs. NJ

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 2017-2021. The key points are:

  • The Median Home Value in Ringwood is $370,900.

  • The Median Rent in Ringwood is $2,077.

  • The Median Income in Ringwood is $130,833.

  • The Home Value To Income in Ringwood is 2.8x.

  • The Rent To Monthly Income in Ringwood is 0.19x.

Statistic Ringwood New Jersey United States
Median Home Value $370,900 $355,700 $244,900
Median Rent $2,077 $1,436 $1,163
Median Income $130,833 $89,703 $69,021
Home Value To Income 2.8x 4.0x 3.5x
Rent To Monthly Income 0.19x 0.19x 0.2x
Search Homes For Sale In Ringwood, NJ
$370,900
Median Home Value
$2,077
Median Rent
$130,833
Median Income

Ringwood, NJ Costs By Category

Detailed Ringwood Services Costs Vs. New Jersey

Item Ringwood New Jersey
Shampoo $1.09 $1.06
Movie $12.38 $10.68
Bowling $20.56 $14.67
Haircut $20.96 $18.62
Beauty Salon $45.37 $39.05

Detailed Ringwood Groceries Costs Vs. New Jersey

Item Ringwood New Jersey
Ground Beef $4.21 $4.22
Fried Chicken $1.94 $1.39
Milk $2.37 $2.05
Potatoes $3.52 $3.29
Pizza $11.27 $10.62
Beer $8.27 $9.38
Toothpaste $2.06 $2.34

Detailed Ringwood Health Costs Vs. New Jersey

Item Ringwood New Jersey
Optometrist $92.33 $108.57
Doctor $99.57 $116.17
Dentist $116.16 $99.13

Detailed Ringwood Transportation Costs Vs. New Jersey

Item Ringwood New Jersey
Gasoline $2.45 $2.22
Tire Balancing $53.07 $50.07

Detailed Ringwood Utilities Costs Vs. New Jersey

Item Ringwood New Jersey
All Electricity $147.86 $167.67
Phone $179.87 $175.64

Ringwood SnackAbility

9
/10
Overall SnackAbility
Jobs
8/10
Housing
9
Affordability
8
Diversity
7
Safety
9.5
Amenities
7
Education
8.5
Commute
3

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 154, 1.2x Ringwood.

  • Oakland, NJ has a cost of living index of 138, 1.1x Ringwood.

  • Stony Point, NY has a cost of living index of 137, 1.1x Ringwood.

City Population Cost Of Living Vs. Ringwood
Ramsey, NJ 14,801 154 1.2x
Oakland, NJ 12,773 138 1.1x
Stony Point, NY 12,389 137 1.1x
Suffern, NY 11,376 127 1.0x
Wanaque, NJ 11,285 122 1.0x
Pompton Lakes, NJ 11,113 121 1.0x
Franklin Lakes, NJ 11,034 207 1.6x
Lincoln Park, NJ 10,877 124 1.0x
Chestnut Ridge, NY 10,211 140 1.1x
Hillcrest, NY 8,667 143 1.1x

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