Cost of Living: Paramus, NJ vs Owatonna, MN
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Paramus | Owatonna |
|---|---|---|
| Housing Index | 135.0 | 90.0 |
| Median Home Price | $570,000 | $269,000 |
| Average Rent (2 BR Apartment) | $2700 | $1200 |
| Average Rent (2 BR House) | $2750 | $1280 |
Housing Comparison: Paramus vs Owatonna
- In Paramus, the median home price is higher at $570,000, while in Owatonna it is $269,000.
- Renting a two-bedroom apartment costs more in Paramus at $2,700 than in Owatonna at $1,200.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Paramus | Owatonna |
|---|---|---|
| Electricity Price | $19.88 | $16.38 |
| Natural Gas Price | $14.01 | $14.87 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Paramus vs Owatonna
- Electricity costs are higher in Paramus at $19.88 per kWh, compared to $16.38 in Owatonna.
- Owatonna experiences higher natural gas costs at $14.87 per unit, with costs at $14.01 in Paramus.
- Utility expenses are equal in both Paramus and Owatonna averaging $250.