Cost of Living: Ridgewood, NJ vs Otsego, MI
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Ridgewood | Otsego |
|---|---|---|
| Housing Index | 120.0 | 90.1 |
| Median Home Price | $978,500 | $208,000 |
| Average Rent (2 BR Apartment) | $2200 | $1200 |
| Average Rent (2 BR House) | $2250 | $1230 |
Housing Comparison: Ridgewood vs Otsego
- In Ridgewood, the median home price is higher at $978,500, while in Otsego it is $208,000.
- Renting a two-bedroom apartment costs more in Ridgewood at $2,200 than in Otsego 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 | Ridgewood | Otsego |
|---|---|---|
| Electricity Price | $19.88 | $19.88 |
| Natural Gas Price | $14.01 | $15.42 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Ridgewood vs Otsego
- Electricity costs are the same in both Ridgewood and Otsego at $19.88 per kWh.
- Otsego experiences higher natural gas costs at $15.42 per unit, with costs at $14.01 in Ridgewood.
- Utility expenses are equal in both Ridgewood and Otsego averaging $250.