Cost of Living in Somers point, NJ
Housing
The housing market plays a significant role in determining the cost of living in Somers point, NJ.
- Housing Index: 125.4 / 100
- Median Home Price is: $292,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1866 per month
Considering the current data for Somers point, NJ, with a housing index of 125.4, it's clear that the market is relatively competitive. The median home price stands at 292000, suggesting a moderate level of affordability compared to national benchmarks. The average rent for a 2-bedroom apartment is 1800, while the rent for a 2-bedroom house is slightly higher at 1866. With these factors in mind, potential movers should weigh these costs against their budget and long-term plans, as well as the overall economic outlook for the area.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Somers point, NJ.
- Electricity Price: $19.88 USD (median by state)
- Natural Gas Price: $14.01 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Somers point, NJ could entail higher utility costs. Electricity costs sit at $19.88, while natural gas is priced at $14.01 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Somers point is a financially viable option for your relocation.