Palisades Park, NJ Cost Of Living
Cost Of Living In Palisades Park, NJ Summary
Cost of living in Palisades Park 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 Palisades Park 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 Palisades Park is 162, with 100 being the average.
The cost of living index in Palisades Park is 1.6x higher than the national average.
Palisades Park ranks as the #216 cheapest in New Jersey out of 251.
Palisades Park ranks as the #6,023 cheapest out of 6,412 in the US.
The median home value in Palisades Park is $604,500.
The median income in Palisades Park is $76,297.
Table Of Contents
Palisades Park's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Palisades Park, NJ?
According to the most recent data on the cost of living, Palisades Park has an overall cost of living index of 162, which is 1.6x higher than the national index of 100.
Compared to New Jersey, Palisades Park has a cost of living index that's 1.5x higher than New Jersey's index of 111.
The standard of living in Palisades Park ranks as #216 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Palisades Park ranks as the #35 most expensive place in the Garden State.
For more reading on life in Palisades Park, check out:
- Living In Palisades Park
- Palisades Park Crime Report
- Search Homes For Sale In Palisades Park, NJ
In New Jersey
In America
Palisades Park Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Palisades Park. Here is how it fairs on each of the criteria:
The Services index in Palisades Park is 133.
The Groceries index in Palisades Park is 147.
The Health index in Palisades Park is 112.
The Housing index in Palisades Park is 238.
The Transportation index in Palisades Park is 130.
The Utilities index in Palisades Park is 99.
| Living Expense | Palisades Park | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 162 | 111 | 100 | |
| Services | 133 | 104 | 100 | |
| Groceries | 147 | 104 | 100 | |
| Health | 112 | 95 | 100 | |
| Housing | 238 | 130 | 100 | |
| Transportation | 130 | 106 | 100 | |
| Utilities | 99 | 108 | 100 | |
Palisades Park, 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 Palisades Park is $604,500.
The Median Rent in Palisades Park is $1,697.
The Median Income in Palisades Park is $76,297.
The Home Value To Income in Palisades Park is 7.9x.
The Rent To Monthly Income in Palisades Park is 0.27x.
| Statistic | Palisades Park | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $604,500 | $355,700 | $244,900 |
| Median Rent | $1,697 | $1,436 | $1,163 |
| Median Income | $76,297 | $89,703 | $69,021 |
| Home Value To Income | 7.9x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.27x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Palisades Park, NJ Costs By Category
Detailed Palisades Park Services Costs Vs. New Jersey
| Item | Palisades Park | New Jersey |
|---|---|---|
| Shampoo | $1.67 | $1.06 |
| Movie | $16.31 | $10.68 |
| Bowling | $20.49 | $14.67 |
| Haircut | $23.25 | $18.62 |
| Beauty Salon | $60.79 | $39.05 |
Detailed Palisades Park Groceries Costs Vs. New Jersey
| Item | Palisades Park | New Jersey |
|---|---|---|
| Ground Beef | $6.4 | $4.22 |
| Fried Chicken | $2.65 | $1.39 |
| Milk | $3.11 | $2.05 |
| Potatoes | $4.16 | $3.29 |
| Pizza | $12.33 | $10.62 |
| Beer | $12.01 | $9.38 |
| Toothpaste | $4.42 | $2.34 |
Detailed Palisades Park Health Costs Vs. New Jersey
| Item | Palisades Park | New Jersey |
|---|---|---|
| Optometrist | $108.08 | $108.57 |
| Doctor | $106.72 | $116.17 |
| Dentist | $124.43 | $99.13 |
Detailed Palisades Park Transportation Costs Vs. New Jersey
| Item | Palisades Park | New Jersey |
|---|---|---|
| Gasoline | $2.62 | $2.22 |
| Tire Balancing | $80.22 | $50.07 |
Detailed Palisades Park Utilities Costs Vs. New Jersey
| Item | Palisades Park | New Jersey |
|---|---|---|
| All Electricity | $157.7 | $167.67 |
| Phone | $189.52 | $175.64 |
Palisades Park SnackAbility
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Cost Of Living In Cities Around Palisades Park
The cost of living varies in the cities and towns around Palisades Park. Here's a quick look at the cost of living in the most populous nearby places:
Fort Lee, NJ has a cost of living index of 141, 0.9x Palisades Park.
Cliffside Park, NJ has a cost of living index of 152, 0.9x Palisades Park.
North Valley Stream, NY has a cost of living index of 148, 0.9x Palisades Park.
| City | Population | Cost Of Living | Vs. Palisades Park |
|---|---|---|---|
| Fort Lee, NJ | 39,701 | 141 | 0.9x |
| Cliffside Park, NJ | 25,515 | 152 | 0.9x |
| North Valley Stream, NY | 18,345 | 148 | 0.9x |
| Port Washington, NY | 16,807 | 185 | 1.1x |
| North New Hyde Park, NY | 15,125 | 170 | 1.0x |
| Fairview, NJ | 14,918 | 140 | 0.9x |
| Edgewater, NJ | 14,234 | 171 | 1.1x |
| Ridgefield Park, NJ | 13,202 | 141 | 0.9x |
| Ridgefield, NJ | 11,477 | 155 | 1.0x |
| Little Ferry, NJ | 10,973 | 140 | 0.9x |
