Cost of Living in Westfield, NJ

Housing

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

• Housing Index: 120.0 / 100
• Median Home Price is: $725000
• Average Rent (2 BR Apartment): $2400 per month
• Average Rent (2 BR House): $2400 per month

Considering a move to Westfield, NJ? With a housing index of 120.0, it's essential to evaluate the livability and affordability. The median home price stands at 725000, indicative of a relatively high market. Meanwhile, the average rent for a 2-bedroom apartment and house both average 2400, putting rental costs on par with purchasing. Factors such as local amenities, community vibe, and long-term appreciation potential should be weighed in your decision. Keep in mind that investing in property here may yield a good return, given the current economic trends.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Westfield, 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 Westfield, 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 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: 115.2

Median Income

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

• Median Income: $203235

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 Westfield, 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.