Rumson, NJ Cost Of Living
Cost Of Living In Rumson, NJ Summary
Cost of living in Rumson 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 Rumson 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 Rumson is 239, with 100 being the average.
The cost of living index in Rumson is 2.4x higher than the national average.
Rumson ranks as the #258 cheapest in New Jersey out of 260.
Rumson ranks as the #6,418 cheapest out of 6,489 in the US.
The median home value in Rumson is $2,100,378.
The median income in Rumson is $250,001.
Table Of Contents
Rumson's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Rumson, NJ?
According to the most recent data on the cost of living, Rumson has an overall cost of living index of 239, which is 2.4x higher than the national index of 100.
Compared to New Jersey, Rumson has a cost of living index that's 2.0x higher than New Jersey's index of 122.
The standard of living in Rumson ranks as #258 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Rumson ranks as the #2 most expensive place in the Garden State.
For more reading on life in Rumson, check out:
In New Jersey
In America
Rumson Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Rumson. Here is how it fairs on each of the criteria:
The Services index in Rumson is 129.
The Groceries index in Rumson is 112.
The Health index in Rumson is 119.
The Housing index in Rumson is 525.
The Transportation index in Rumson is 116.
The Utilities index in Rumson is 100.
| Living Expense | Rumson | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 239 | 122 | 100 | |
| Services | 129 | 108 | 100 | |
| Groceries | 112 | 104 | 100 | |
| Health | 119 | 99 | 100 | |
| Housing | 525 | 159 | 100 | |
| Transportation | 116 | 101 | 100 | |
| Utilities | 100 | 107 | 100 | |
Rumson, 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 Rumson is $2,100,378.
The Median Rent in Rumson is $2,351.
The Median Income in Rumson is $250,001.
The Home Value To Income in Rumson is 8.4x.
The Rent To Monthly Income in Rumson is 0.11x.
| Statistic | Rumson | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $2,100,378 | $564,432 | $303,400 |
| Median Rent | $2,351 | $1,653 | $1,348 |
| Median Income | $250,001 | $101,050 | $78,538 |
| Home Value To Income | 8.4x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.11x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Rumson, NJ Costs By Category
Detailed Rumson Services Costs Vs. New Jersey
| Item | Rumson | 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 Rumson Groceries Costs Vs. New Jersey
| Item | Rumson | 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 Rumson Health Costs Vs. New Jersey
| Item | Rumson | New Jersey |
|---|---|---|
| Optometrist | $128.97 | $125.68 |
| Doctor | $162.24 | $135.78 |
| Dentist | $149.64 | $113.29 |
Detailed Rumson Transportation Costs Vs. New Jersey
| Item | Rumson | New Jersey |
|---|---|---|
| Gasoline | $3.55 | $3.46 |
| Tire Balancing | $86.43 | $59.92 |
Detailed Rumson Utilities Costs Vs. New Jersey
| Item | Rumson | New Jersey |
|---|---|---|
| All Electricity | $201.27 | $193.99 |
| Phone | $200.67 | $192.25 |
Rumson SnackAbility
/10
Cost Of Living In Cities Around Rumson
The cost of living varies in the cities and towns around Rumson. Here's a quick look at the cost of living in the most populous nearby places:
Old Bridge, NJ has a cost of living index of 128, 0.5x Rumson.
Tinton Falls, NJ has a cost of living index of 134, 0.6x Rumson.
West Freehold, NJ has a cost of living index of 136, 0.6x Rumson.
| City | Population | Cost Of Living | Vs. Rumson |
|---|---|---|---|
| Old Bridge, NJ | 28,015 | 128 | 0.5x |
| Tinton Falls, NJ | 19,252 | 134 | 0.6x |
| West Freehold, NJ | 14,233 | 136 | 0.6x |
| Red Bank, NJ | 12,864 | 143 | 0.6x |
| Freehold, NJ | 12,504 | 125 | 0.5x |
| Yorketown, NJ | 7,265 | 140 | 0.6x |
| Lincroft, NJ | 6,901 | 146 | 0.6x |
| Strathmore, NJ | 6,593 | 136 | 0.6x |
| Ramtown, NJ | 6,410 | 134 | 0.6x |
| Fair Haven, NJ | 6,182 | 206 | 0.9x |
