Cost of living in Westwood 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 Westwood 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 Westwood is 158, with 100 being the average.
The cost of living index in Westwood is 1.6x higher than the national average.
Westwood ranks as the #209 cheapest in New Jersey out of 251.
Westwood ranks as the #5,974 cheapest out of 6,412 in the US.
The median home value in Westwood is $467,600.
The median income in Westwood is $136,603.
According to the most recent data on the cost of living, Westwood has an overall cost of living index of 158, which is 1.6x higher than the national index of 100.
Compared to New Jersey, Westwood has a cost of living index that's 1.4x higher than New Jersey's index of 111.
The standard of living in Westwood ranks as #209 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Westwood ranks as the #42 most expensive place in the Garden State.
For more reading on life in Westwood, check out:
Six factors go into calculating the cost of living index in Westwood. Here is how it fairs on each of the criteria:
The Services index in Westwood is 134.
The Groceries index in Westwood is 146.
The Health index in Westwood is 110.
The Housing index in Westwood is 219.
The Transportation index in Westwood is 130.
The Utilities index in Westwood is 99.
|Living Expense||Westwood||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 Westwood is $467,600.
The Median Rent in Westwood is $1,899.
The Median Income in Westwood is $136,603.
The Home Value To Income in Westwood is 3.4x.
The Rent To Monthly Income in Westwood is 0.17x.
|Statistic||Westwood||New Jersey||United States|
|Median Home Value||$467,600||$355,700||$244,900|
|Home Value To Income||3.4x||4.0x||3.5x|
|Rent To Monthly Income||0.17x||0.19x||0.2x|
The cost of living varies in the cities and towns around Westwood. Here's a quick look at the cost of living in the most populous nearby places:
Paramus, NJ has a cost of living index of 159, 1.0x Westwood.
Eastchester, NY has a cost of living index of 163, 1.0x Westwood.
Mamaroneck, NY has a cost of living index of 165, 1.0x Westwood.
|City||Population||Cost Of Living||Vs. Westwood|
|Park Ridge, NJ||8,987||165||1.0x|
|Briarcliff Manor, NY||7,587||175||1.1x|