Monmouth Junction, NJ Cost Of Living
Cost Of Living In Monmouth Junction, NJ Summary
Cost of living in Monmouth Junction 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 Monmouth Junction 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 Monmouth Junction is 138, with 100 being the average.
The cost of living index in Monmouth Junction is 1.4x higher than the national average.
Monmouth Junction ranks as the #165 cheapest in New Jersey out of 251.
Monmouth Junction ranks as the #5,521 cheapest out of 6,412 in the US.
The median home value in Monmouth Junction is $441,800.
The median income in Monmouth Junction is $123,906.
Table Of Contents
Monmouth Junction's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Monmouth Junction, NJ?
According to the most recent data on the cost of living, Monmouth Junction has an overall cost of living index of 138, which is 1.4x higher than the national index of 100.
Compared to New Jersey, Monmouth Junction has a cost of living index that's 1.2x higher than New Jersey's index of 111.
The standard of living in Monmouth Junction ranks as #165 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Monmouth Junction ranks as the #86 most expensive place in the Garden State.
For more reading on life in Monmouth Junction, check out:
- Living In Monmouth Junction
- Search Homes For Sale In Monmouth Junction, NJ
In New Jersey
In America
Monmouth Junction Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Monmouth Junction. Here is how it fairs on each of the criteria:
The Services index in Monmouth Junction is 114.
The Groceries index in Monmouth Junction is 105.
The Health index in Monmouth Junction is 103.
The Housing index in Monmouth Junction is 201.
The Transportation index in Monmouth Junction is 104.
The Utilities index in Monmouth Junction is 102.
| Living Expense | Monmouth Junction | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 138 | 111 | 100 | |
| Services | 114 | 104 | 100 | |
| Groceries | 105 | 104 | 100 | |
| Health | 103 | 95 | 100 | |
| Housing | 201 | 130 | 100 | |
| Transportation | 104 | 106 | 100 | |
| Utilities | 102 | 108 | 100 | |
Monmouth Junction, 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 2017-2021. The key points are:
The Median Home Value in Monmouth Junction is $441,800.
The Median Rent in Monmouth Junction is $1,705.
The Median Income in Monmouth Junction is $123,906.
The Home Value To Income in Monmouth Junction is 3.6x.
The Rent To Monthly Income in Monmouth Junction is 0.17x.
| Statistic | Monmouth Junction | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $441,800 | $355,700 | $244,900 |
| Median Rent | $1,705 | $1,436 | $1,163 |
| Median Income | $123,906 | $89,703 | $69,021 |
| Home Value To Income | 3.6x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.17x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Monmouth Junction, NJ Costs By Category
Detailed Monmouth Junction Services Costs Vs. New Jersey
| Item | Monmouth Junction | New Jersey |
|---|---|---|
| Shampoo | $1.03 | $1.06 |
| Movie | $12.59 | $10.68 |
| Bowling | $17.73 | $14.67 |
| Haircut | $20.73 | $18.62 |
| Beauty Salon | $36.4 | $39.05 |
Detailed Monmouth Junction Groceries Costs Vs. New Jersey
| Item | Monmouth Junction | New Jersey |
|---|---|---|
| Ground Beef | $3.87 | $4.22 |
| Fried Chicken | $1.67 | $1.39 |
| Milk | $2.41 | $2.05 |
| Potatoes | $3.09 | $3.29 |
| Pizza | $11.4 | $10.62 |
| Beer | $9.19 | $9.38 |
| Toothpaste | $2.16 | $2.34 |
Detailed Monmouth Junction Health Costs Vs. New Jersey
| Item | Monmouth Junction | New Jersey |
|---|---|---|
| Optometrist | $101.33 | $108.57 |
| Doctor | $94.5 | $116.17 |
| Dentist | $113.15 | $99.13 |
Detailed Monmouth Junction Transportation Costs Vs. New Jersey
| Item | Monmouth Junction | New Jersey |
|---|---|---|
| Gasoline | $2.26 | $2.22 |
| Tire Balancing | $56.66 | $50.07 |
Detailed Monmouth Junction Utilities Costs Vs. New Jersey
| Item | Monmouth Junction | New Jersey |
|---|---|---|
| All Electricity | $174.26 | $167.67 |
| Phone | $179.87 | $175.64 |
Monmouth Junction SnackAbility
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Cost Of Living In Cities Around Monmouth Junction
The cost of living varies in the cities and towns around Monmouth Junction. Here's a quick look at the cost of living in the most populous nearby places:
Colonia, NJ has a cost of living index of 127, 0.9x Monmouth Junction.
Princeton Meadows, NJ has a cost of living index of 129, 0.9x Monmouth Junction.
Bradley Gardens, NJ has a cost of living index of 144, 1.0x Monmouth Junction.
| City | Population | Cost Of Living | Vs. Monmouth Junction |
|---|---|---|---|
| Colonia, NJ | 18,776 | 127 | 0.9x |
| Princeton Meadows, NJ | 15,491 | 129 | 0.9x |
| Bradley Gardens, NJ | 14,798 | 144 | 1.0x |
| Middlesex, NJ | 14,513 | 123 | 0.9x |
| Mercerville, NJ | 14,234 | 116 | 0.8x |
| Franklin Park, NJ | 13,686 | 124 | 0.9x |
| Hamilton Square, NJ | 12,244 | 130 | 0.9x |
| Martinsville, NJ | 11,980 | 155 | 1.1x |
| Kendall Park, NJ | 10,560 | 131 | 0.9x |
| White Horse, NJ | 9,710 | 111 | 0.8x |
