Rent, home prices, and cost of living in New Jersey

Among the cities we track, Crestwood Village stands out as the most affordable option in New Jersey. The median home value there is $96,500, and monthly rent typically runs around $2,283. The local median household income is $38,091, which tends to go further here than in much of the state.

Englewood Cliffs is currently the priciest market in NJ. Homes there are valued at a median of $1,813,590, and renters can expect to pay around $2,282/month. Incomes are higher too — the median household earns $230,611 — but whether that fully offsets the cost premium depends on your lifestyle.

New Jersey uses a progressive model; 10.75% is top marginal-rate context. The state-level effective owner-occupied property-tax proxy is 1.88% and is not an individual bill. State plus average local sales-tax context is 6.6%.

There's a huge range. In Crestwood Village, the median home costs around $96,500. In Englewood Cliffs, that number jumps to $1,813,590 — roughly 18x more. Rents follow a similar pattern: approximately $2,283/month vs. $2,282/month. Where you choose to settle within NJ can make a dramatic difference in your monthly budget.

It depends on your priorities and budget. New Jersey has a wide range of living costs depending on the city. Typical home values range from around $96,500 in lower-cost tracked places to $1,813,590 in higher-cost tracked places. Use the city comparison tool to compare housing, rent, state-level tax proxies, and everyday cost pressure across locations in NJ.