Cost of Living in Ridgewood, NJ
Housing
The housing market plays a significant role in determining the cost of living in Ridgewood, NJ.
- Housing Index: 120.0 / 100
- Median Home Price is: $978500
- Average Rent (2 BR Apartment): $2200 per month
- Average Rent (2 BR House): $2250 per month
When considering a move to Ridgewood, NJ, the housing market looks quite competitive with a housing index of 120.0. The median home price stands at 978500, suggesting that purchasing may be significant, particularly for first-time buyers. Renting options show a 2-bedroom apartment averaging 2200 and a 2-bedroom house at 2250. It’s essential to balance these costs with local employment opportunities and quality of life when weighing your options. The decision will increasingly hinge on whether ownership or renting aligns better with your financial goals and lifestyle preferences.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Ridgewood, 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 Ridgewood, 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 Ridgewood is a financially viable option for your relocation.