Wanaque, NJ Cost Of Living
Cost Of Living In Wanaque, NJ Summary
Cost of living in Wanaque 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 Wanaque 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 Wanaque is 121, with 100 being the average.
The cost of living index in Wanaque is 1.2x higher than the national average.
Wanaque ranks as the #93 cheapest in New Jersey out of 260.
Wanaque ranks as the #4,476 cheapest out of 6,489 in the US.
The median home value in Wanaque is $502,495.
The median income in Wanaque is $112,326.
Table Of Contents
Wanaque's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Wanaque, NJ?
According to the most recent data on the cost of living, Wanaque has an overall cost of living index of 121, which is 1.2x higher than the national index of 100.
Compared to New Jersey, Wanaque has a cost of living index that's 1.0x lower than New Jersey's index of 122.
The standard of living in Wanaque ranks as #93 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Wanaque ranks as the #167 most expensive place in the Garden State.
For more reading on life in Wanaque, check out:
In New Jersey
In America
Wanaque Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Wanaque. Here is how it fairs on each of the criteria:
The Services index in Wanaque is 100.
The Groceries index in Wanaque is 102.
The Health index in Wanaque is 101.
The Housing index in Wanaque is 170.
The Transportation index in Wanaque is 93.
The Utilities index in Wanaque is 101.
| Living Expense | Wanaque | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 121 | 122 | 100 | |
| Services | 100 | 108 | 100 | |
| Groceries | 102 | 104 | 100 | |
| Health | 101 | 99 | 100 | |
| Housing | 170 | 159 | 100 | |
| Transportation | 93 | 101 | 100 | |
| Utilities | 101 | 107 | 100 | |
Wanaque, 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 Wanaque is $502,495.
The Median Rent in Wanaque is $1,885.
The Median Income in Wanaque is $112,326.
The Home Value To Income in Wanaque is 4.5x.
The Rent To Monthly Income in Wanaque is 0.2x.
| Statistic | Wanaque | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $502,495 | $564,432 | $303,400 |
| Median Rent | $1,885 | $1,653 | $1,348 |
| Median Income | $112,326 | $101,050 | $78,538 |
| Home Value To Income | 4.5x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.2x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Wanaque, NJ Costs By Category
Detailed Wanaque Services Costs Vs. New Jersey
| Item | Wanaque | 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 Wanaque Groceries Costs Vs. New Jersey
| Item | Wanaque | 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 Wanaque Health Costs Vs. New Jersey
| Item | Wanaque | New Jersey |
|---|---|---|
| Optometrist | $105.11 | $125.68 |
| Doctor | $117.94 | $135.78 |
| Dentist | $121.22 | $113.29 |
Detailed Wanaque Transportation Costs Vs. New Jersey
| Item | Wanaque | New Jersey |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $77.33 | $59.92 |
Detailed Wanaque Utilities Costs Vs. New Jersey
| Item | Wanaque | New Jersey |
|---|---|---|
| All Electricity | $230.68 | $193.99 |
| Phone | $186.61 | $192.25 |
Wanaque SnackAbility
/10
Cost Of Living In Cities Around Wanaque
The cost of living varies in the cities and towns around Wanaque. 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, 1.3x Wanaque.
Oakland, NJ has a cost of living index of 139, 1.1x Wanaque.
Stony Point, NY has a cost of living index of 135, 1.1x Wanaque.
| City | Population | Cost Of Living | Vs. Wanaque |
|---|---|---|---|
| Ramsey, NJ | 14,722 | 158 | 1.3x |
| Oakland, NJ | 12,700 | 139 | 1.1x |
| Stony Point, NY | 12,694 | 135 | 1.1x |
| Ringwood, NJ | 11,600 | 130 | 1.1x |
| Suffern, NY | 11,395 | 125 | 1.0x |
| Franklin Lakes, NJ | 11,011 | 216 | 1.8x |
| Pompton Lakes, NJ | 11,010 | 122 | 1.0x |
| Lincoln Park, NJ | 10,901 | 124 | 1.0x |
| Chestnut Ridge, NY | 10,464 | 149 | 1.2x |
| Kinnelon, NJ | 9,971 | 160 | 1.3x |
