Oakland, NJ Cost Of Living
Cost Of Living In Oakland, NJ Summary
Cost of living in Oakland 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 Oakland 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 Oakland is 138, with 100 being the average.
The cost of living index in Oakland is 1.4x higher than the national average.
Oakland ranks as the #165 cheapest in New Jersey out of 251.
Oakland ranks as the #5,521 cheapest out of 6,412 in the US.
The median home value in Oakland is $475,400.
The median income in Oakland is $152,283.
Table Of Contents
Oakland's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Oakland, NJ?
According to the most recent data on the cost of living, Oakland has an overall cost of living index of 138, which is 1.4x higher than the national index of 100.
Compared to New Jersey, Oakland has a cost of living index that's 1.2x higher than New Jersey's index of 111.
The standard of living in Oakland ranks as #165 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Oakland ranks as the #86 most expensive place in the Garden State.
For more reading on life in Oakland, check out:
- Living In Oakland
- Oakland Crime Report
- Search Homes For Sale In Oakland, NJ
In New Jersey
In America
Oakland Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Oakland. Here is how it fairs on each of the criteria:
The Services index in Oakland is 105.
The Groceries index in Oakland is 116.
The Health index in Oakland is 102.
The Housing index in Oakland is 212.
The Transportation index in Oakland is 111.
The Utilities index in Oakland is 95.
| Living Expense | Oakland | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 138 | 111 | 100 | |
| Services | 105 | 104 | 100 | |
| Groceries | 116 | 104 | 100 | |
| Health | 102 | 95 | 100 | |
| Housing | 212 | 130 | 100 | |
| Transportation | 111 | 106 | 100 | |
| Utilities | 95 | 108 | 100 | |
Oakland, 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 Oakland is $475,400.
The Median Rent in Oakland is $1,731.
The Median Income in Oakland is $152,283.
The Home Value To Income in Oakland is 3.1x.
The Rent To Monthly Income in Oakland is 0.14x.
| Statistic | Oakland | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $475,400 | $355,700 | $244,900 |
| Median Rent | $1,731 | $1,436 | $1,163 |
| Median Income | $152,283 | $89,703 | $69,021 |
| Home Value To Income | 3.1x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.14x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Oakland, NJ Costs By Category
Detailed Oakland Services Costs Vs. New Jersey
| Item | Oakland | New Jersey |
|---|---|---|
| Shampoo | $1.09 | $1.06 |
| Movie | $12.38 | $10.68 |
| Bowling | $20.56 | $14.67 |
| Haircut | $20.96 | $18.62 |
| Beauty Salon | $45.37 | $39.05 |
Detailed Oakland Groceries Costs Vs. New Jersey
| Item | Oakland | New Jersey |
|---|---|---|
| Ground Beef | $4.21 | $4.22 |
| Fried Chicken | $1.94 | $1.39 |
| Milk | $2.37 | $2.05 |
| Potatoes | $3.52 | $3.29 |
| Pizza | $11.27 | $10.62 |
| Beer | $8.27 | $9.38 |
| Toothpaste | $2.06 | $2.34 |
Detailed Oakland Health Costs Vs. New Jersey
| Item | Oakland | New Jersey |
|---|---|---|
| Optometrist | $92.33 | $108.57 |
| Doctor | $99.57 | $116.17 |
| Dentist | $116.16 | $99.13 |
Detailed Oakland Transportation Costs Vs. New Jersey
| Item | Oakland | New Jersey |
|---|---|---|
| Gasoline | $2.45 | $2.22 |
| Tire Balancing | $53.07 | $50.07 |
Detailed Oakland Utilities Costs Vs. New Jersey
| Item | Oakland | New Jersey |
|---|---|---|
| All Electricity | $147.86 | $167.67 |
| Phone | $179.87 | $175.64 |
Oakland SnackAbility
/10
Cost Of Living In Cities Around Oakland
The cost of living varies in the cities and towns around Oakland. 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 154, 1.1x Oakland.
Ringwood, NJ has a cost of living index of 127, 0.9x Oakland.
Dobbs Ferry, NY has a cost of living index of 169, 1.2x Oakland.
| City | Population | Cost Of Living | Vs. Oakland |
|---|---|---|---|
| Ramsey, NJ | 14,801 | 154 | 1.1x |
| Ringwood, NJ | 11,778 | 127 | 0.9x |
| Dobbs Ferry, NY | 11,511 | 169 | 1.2x |
| Wanaque, NJ | 11,285 | 122 | 0.9x |
| Pompton Lakes, NJ | 11,113 | 121 | 0.9x |
| Franklin Lakes, NJ | 11,034 | 207 | 1.5x |
| Lincoln Park, NJ | 10,877 | 124 | 0.9x |
| North Haledon, NJ | 8,893 | 140 | 1.0x |
| Hillcrest, NY | 8,667 | 143 | 1.0x |
| Hastings-on-Hudson, NY | 8,505 | 172 | 1.2x |
