Cost of living in Rockaway 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 Rockaway 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 Rockaway is 126, with 100 being the average.
The cost of living index in Rockaway is 1.3x higher than the national average.
Rockaway ranks as the #121 cheapest in New Jersey out of 251.
Rockaway ranks as the #5,091 cheapest out of 6,412 in the US.
The median home value in Rockaway is $356,700.
The median income in Rockaway is $90,048.
According to the most recent data on the cost of living, Rockaway has an overall cost of living index of 126, which is 1.3x higher than the national index of 100.
Compared to New Jersey, Rockaway has a cost of living index that's 1.1x higher than New Jersey's index of 111.
The standard of living in Rockaway ranks as #121 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Rockaway ranks as the #130 most expensive place in the Garden State.
For more reading on life in Rockaway, check out:
Six factors go into calculating the cost of living index in Rockaway. Here is how it fairs on each of the criteria:
The Services index in Rockaway is 103.
The Groceries index in Rockaway is 114.
The Health index in Rockaway is 99.
The Housing index in Rockaway is 167.
The Transportation index in Rockaway is 111.
The Utilities index in Rockaway is 94.
|Living Expense||Rockaway||New Jersey||National Average|
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 Rockaway is $356,700.
The Median Rent in Rockaway is $1,470.
The Median Income in Rockaway is $90,048.
The Home Value To Income in Rockaway is 4.0x.
The Rent To Monthly Income in Rockaway is 0.2x.
|Statistic||Rockaway||New Jersey||United States|
|Median Home Value||$356,700||$355,700||$244,900|
|Home Value To Income||4.0x||4.0x||3.5x|
|Rent To Monthly Income||0.2x||0.19x||0.2x|
The cost of living varies in the cities and towns around Rockaway. Here's a quick look at the cost of living in the most populous nearby places:
Westfield, NJ has a cost of living index of 170, 1.3x Rockaway.
Dover, NJ has a cost of living index of 118, 0.9x Rockaway.
Oakland, NJ has a cost of living index of 138, 1.1x Rockaway.
|City||Population||Cost Of Living||Vs. Rockaway|
|Florham Park, NJ||12,655||165||1.3x|
|Franklin Lakes, NJ||11,034||207||1.6x|
|Lincoln Park, NJ||10,877||124||1.0x|
|White Meadow Lake, NJ||9,069||129||1.0x|