Wharton, NJ Cost Of Living
Cost Of Living In Wharton, NJ Summary
Cost of living in Wharton 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 Wharton 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 Wharton is 123, with 100 being the average.
The cost of living index in Wharton is 1.2x higher than the national average.
Wharton ranks as the #103 cheapest in New Jersey out of 260.
Wharton ranks as the #4,598 cheapest out of 6,489 in the US.
The median home value in Wharton is $494,295.
The median income in Wharton is $92,548.
Table Of Contents
Wharton's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Wharton, NJ?
According to the most recent data on the cost of living, Wharton has an overall cost of living index of 123, which is 1.2x higher than the national index of 100.
Compared to New Jersey, Wharton has a cost of living index that's 1.0x higher than New Jersey's index of 122.
The standard of living in Wharton ranks as #103 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Wharton ranks as the #157 most expensive place in the Garden State.
For more reading on life in Wharton, check out:
In New Jersey
In America
Wharton Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Wharton. Here is how it fairs on each of the criteria:
The Services index in Wharton is 99.
The Groceries index in Wharton is 101.
The Health index in Wharton is 99.
The Housing index in Wharton is 170.
The Transportation index in Wharton is 94.
The Utilities index in Wharton is 103.
| Living Expense | Wharton | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 123 | 122 | 100 | |
| Services | 99 | 108 | 100 | |
| Groceries | 101 | 104 | 100 | |
| Health | 99 | 99 | 100 | |
| Housing | 170 | 159 | 100 | |
| Transportation | 94 | 101 | 100 | |
| Utilities | 103 | 107 | 100 | |
Wharton, 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 Wharton is $494,295.
The Median Rent in Wharton is $1,886.
The Median Income in Wharton is $92,548.
The Home Value To Income in Wharton is 5.3x.
The Rent To Monthly Income in Wharton is 0.24x.
| Statistic | Wharton | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $494,295 | $564,432 | $303,400 |
| Median Rent | $1,886 | $1,653 | $1,348 |
| Median Income | $92,548 | $101,050 | $78,538 |
| Home Value To Income | 5.3x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.24x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Wharton, NJ Costs By Category
Detailed Wharton Services Costs Vs. New Jersey
| Item | Wharton | 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 Wharton Groceries Costs Vs. New Jersey
| Item | Wharton | 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 Wharton Health Costs Vs. New Jersey
| Item | Wharton | New Jersey |
|---|---|---|
| Optometrist | $105.11 | $125.68 |
| Doctor | $117.94 | $135.78 |
| Dentist | $121.22 | $113.29 |
Detailed Wharton Transportation Costs Vs. New Jersey
| Item | Wharton | New Jersey |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $77.33 | $59.92 |
Detailed Wharton Utilities Costs Vs. New Jersey
| Item | Wharton | New Jersey |
|---|---|---|
| All Electricity | $230.68 | $193.99 |
| Phone | $186.61 | $192.25 |
Wharton SnackAbility
/10
Cost Of Living In Cities Around Wharton
The cost of living varies in the cities and towns around Wharton. Here's a quick look at the cost of living in the most populous nearby places:
Dover, NJ has a cost of living index of 116, 0.9x Wharton.
Hopatcong, NJ has a cost of living index of 113, 0.9x Wharton.
Florham Park, NJ has a cost of living index of 165, 1.3x Wharton.
| City | Population | Cost Of Living | Vs. Wharton |
|---|---|---|---|
| Dover, NJ | 18,420 | 116 | 0.9x |
| Hopatcong, NJ | 14,470 | 113 | 0.9x |
| Florham Park, NJ | 13,134 | 165 | 1.3x |
| Oakland, NJ | 12,700 | 139 | 1.1x |
| Lincoln Park, NJ | 10,901 | 124 | 1.0x |
| Succasunna, NJ | 9,866 | 134 | 1.1x |
| Boonton, NJ | 8,803 | 129 | 1.0x |
| White Meadow Lake, NJ | 8,706 | 131 | 1.1x |
| Bernardsville, NJ | 7,871 | 162 | 1.3x |
| Mountainside, NJ | 6,967 | 173 | 1.4x |
