Wood-Ridge, NJ Cost Of Living
Cost Of Living In Wood-Ridge, NJ Summary
Cost of living in Wood-Ridge 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 Wood-Ridge 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 Wood-Ridge is 140, with 100 being the average.
The cost of living index in Wood-Ridge is 1.4x higher than the national average.
Wood-Ridge ranks as the #172 cheapest in New Jersey out of 260.
Wood-Ridge ranks as the #5,404 cheapest out of 6,489 in the US.
The median home value in Wood-Ridge is $703,428.
The median income in Wood-Ridge is $131,412.
Table Of Contents
Wood-Ridge's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Wood-Ridge, NJ?
According to the most recent data on the cost of living, Wood-Ridge has an overall cost of living index of 140, which is 1.4x higher than the national index of 100.
Compared to New Jersey, Wood-Ridge has a cost of living index that's 1.1x higher than New Jersey's index of 122.
The standard of living in Wood-Ridge ranks as #172 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Wood-Ridge ranks as the #88 most expensive place in the Garden State.
For more reading on life in Wood-Ridge, check out:
In New Jersey
In America
Wood-Ridge Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Wood-Ridge. Here is how it fairs on each of the criteria:
The Services index in Wood-Ridge is 108.
The Groceries index in Wood-Ridge is 104.
The Health index in Wood-Ridge is 97.
The Housing index in Wood-Ridge is 219.
The Transportation index in Wood-Ridge is 109.
The Utilities index in Wood-Ridge is 113.
| Living Expense | Wood-Ridge | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 140 | 122 | 100 | |
| Services | 108 | 108 | 100 | |
| Groceries | 104 | 104 | 100 | |
| Health | 97 | 99 | 100 | |
| Housing | 219 | 159 | 100 | |
| Transportation | 109 | 101 | 100 | |
| Utilities | 113 | 107 | 100 | |
Wood-Ridge, 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 Wood-Ridge is $703,428.
The Median Rent in Wood-Ridge is $1,886.
The Median Income in Wood-Ridge is $131,412.
The Home Value To Income in Wood-Ridge is 5.4x.
The Rent To Monthly Income in Wood-Ridge is 0.17x.
| Statistic | Wood-Ridge | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $703,428 | $564,432 | $303,400 |
| Median Rent | $1,886 | $1,653 | $1,348 |
| Median Income | $131,412 | $101,050 | $78,538 |
| Home Value To Income | 5.4x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.17x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Wood-Ridge, NJ Costs By Category
Detailed Wood-Ridge Services Costs Vs. New Jersey
| Item | Wood-Ridge | New Jersey |
|---|---|---|
| Shampoo | $1.48 | $1.28 |
| Movie | $15.78 | $12.13 |
| Bowling | $21.0 | $18 |
| Haircut | $25.62 | $24.26 |
| Beauty Salon | $41.67 | $45.56 |
Detailed Wood-Ridge Groceries Costs Vs. New Jersey
| Item | Wood-Ridge | New Jersey |
|---|---|---|
| Ground Beef | $5.65 | $5.84 |
| Fried Chicken | $1.39 | $1.57 |
| Milk | $4.71 | $4.67 |
| Potatoes | $5.37 | $4.93 |
| Pizza | $11.49 | $12.09 |
| Beer | $11.33 | $10.41 |
| Toothpaste | $3.72 | $3.7 |
Detailed Wood-Ridge Health Costs Vs. New Jersey
| Item | Wood-Ridge | New Jersey |
|---|---|---|
| Optometrist | $157.11 | $125.68 |
| Doctor | $115.59 | $135.78 |
| Dentist | $124.27 | $113.29 |
Detailed Wood-Ridge Transportation Costs Vs. New Jersey
| Item | Wood-Ridge | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $82.67 | $59.92 |
Detailed Wood-Ridge Utilities Costs Vs. New Jersey
| Item | Wood-Ridge | New Jersey |
|---|---|---|
| All Electricity | $236.04 | $193.99 |
| Phone | $186.61 | $192.25 |
Wood-Ridge SnackAbility
/10
Cost Of Living In Cities Around Wood-Ridge
The cost of living varies in the cities and towns around Wood-Ridge. Here's a quick look at the cost of living in the most populous nearby places:
Passaic, NJ has a cost of living index of 126, 0.9x Wood-Ridge.
Garfield, NJ has a cost of living index of 130, 0.9x Wood-Ridge.
Lodi, NJ has a cost of living index of 132, 0.9x Wood-Ridge.
| City | Population | Cost Of Living | Vs. Wood-Ridge |
|---|---|---|---|
| Passaic, NJ | 69,651 | 126 | 0.9x |
| Garfield, NJ | 32,502 | 130 | 0.9x |
| Lodi, NJ | 25,946 | 132 | 0.9x |
| Eastchester, NY | 20,519 | 167 | 1.2x |
| Mamaroneck, NY | 19,840 | 166 | 1.2x |
| Rutherford, NJ | 18,748 | 144 | 1.0x |
| Scarsdale, NY | 18,005 | 279 | 2.0x |
| Hasbrouck Heights, NJ | 12,067 | 138 | 1.0x |
| Wallington, NJ | 11,825 | 133 | 0.9x |
| Dobbs Ferry, NY | 11,397 | 173 | 1.2x |
