Cost of Living in Hackensack, NJ

Housing

The housing market plays a significant role in determining the cost of living in Hackensack, NJ.

• Housing Index: 125.0 / 100
• Median Home Price is: $493500
• Average Rent (2 BR Apartment): $2400 per month
• Average Rent (2 BR House): $2480 per month

If you're considering a move to Hackensack, NJ, the current housing market presents interesting dynamics. With a housing index of 125.0, it reflects a relatively high demand in the area. The median home price stands at 493500, positioning it as an investment opportunity, albeit at a premium. For renters, expectations are set at an average of 2400 for a 2-bedroom apartment and 2480 for a 2-bedroom house. Understanding these figures is crucial, as they influence not just living costs but also lifestyle choices in this vibrant community.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hackensack, 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.): $280 per month

Living in Hackensack, 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 280 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 120.0

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $79133

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Hackensack, NJ, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.