10 Most Expensive Places To Live In New Jersey For 2019


We used science and data to determine which cities in New Jersey that will put a big dent in your wallet.

Editor’s Note: We updated this article for 2019. This is our fourth time ranking the most expensive places to live in New Jersey.

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Everyone wants a home that mixes affordability with comfort and New Jersey does this very well. Families love the Garden State’s beaches, midlands, and mountains as tourists before moving here and calling it home.

But before you decide to relocate, you have to do some research into the exact cost of living around the state — and that’s how we’re going to help you.

These are the places in New Jersey that cost a pretty penny — the most expensive cities in the state.

After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in New Jersey for 2019.

So where is the most expensive place to live in New Jersey? That would be Englewood Cliffs.

So hopefully Audubon (the cheapest place to live in New Jersey) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.

And if you already knew these places were expensive, check out some more reading about New Jersey and the most expensive cities in the country:

The 10 Most Expensive Places To Live In New Jersey For 2019

Englewood Cliffs, NJ

Source: Public domain
Overall SnackAbility

10
/10

Population: 5,435
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 7.4x (7th most expensive)
Income To Rent Ratio: 42.3x (23rd most expensive)
More on Englewood Cliffs: Real Estate | Data | Photos

The median income in Englewood Cliffs comes in at $134,629 and the median home value is $995,300 for 2019.

Palisades Park, NJ

Overall SnackAbility

9
/10

Population: 20,716
Rank Last Year: 2 (No Change)
Home Price To Income Ratio: 8.1x (3rd most expensive)
Income To Rent Ratio: 45.5x (30th most expensive)
More on Palisades Park: Real Estate | Data | Photos

The median income in Palisades Park comes in at $64,589 and the median home value is $521,400 for 2019.

Ridgefield, NJ

Source: Public domain
Overall SnackAbility

9
/10

Population: 11,369
Rank Last Year: 8 (Up 5)
Home Price To Income Ratio: 6.7x (10th most expensive)
Income To Rent Ratio: 41.9x (21st most expensive)
More on Ridgefield: Real Estate | Data | Photos

Ridgefield is a borough in Bergen County, New Jersey, United States. As of the 2010 United States Census, the borough’s population was 11,032, reflecting an increase of 202 from the 10,830 counted in the 2000 Census, which had in turn increased by 834 from the 9,996 counted in the 1990 Census.

The median income in Ridgefield comes in at $66,690 and the median home value is $447,300 for 2019.

Edgewater, NJ

Overall SnackAbility

7
/10

Population: 12,165
Rank Last Year: 10 (Up 6)
Home Price To Income Ratio: 5.4x (34th most expensive)
Income To Rent Ratio: 45.6x (31st most expensive)
More on Edgewater: Real Estate | Data | Photos

Edgewater is a borough located along the Hudson River in Bergen County, New Jersey, United States. As of the 2010 United States Census, the borough had a population of 11,513, reflecting an increase of 3,836 from the 7,677 counted in the 2000 Census, which had in turn increased by 2,676 from the 5,001 counted in the 1990 Census.

The median income in Edgewater comes in at $103,505 and the median home value is $560,000 for 2019.

Asbury Park, NJ

Overall SnackAbility

4
/10

Population: 15,830
Rank Last Year: 5 (No Change)
Home Price To Income Ratio: 8.5x (2nd most expensive)
Income To Rent Ratio: 33.9x (9th most expensive)
More on Asbury Park: Real Estate | Data | Photos

Asbury Park is a city in Monmouth County, New Jersey, United States, located on the Jersey Shore and part of the New York City Metropolitan Area. As of the 2010 United States Census, the city’s population was 16,116, reflecting a decline of 814 from the 16,930 counted in the 2000 Census, which had in turn increased by 131 from the 16,799 counted in the 1990 Census.

The median income in Asbury Park comes in at $39,324 and the median home value is $335,500 for 2019.

Belmar, NJ

Overall SnackAbility

8
/10

Population: 5,719
Rank Last Year: 3 (Down 3)
Home Price To Income Ratio: 7.5x (5th most expensive)
Income To Rent Ratio: 53.8x (72nd most expensive)
More on Belmar: Real Estate | Data | Photos

The median income in Belmar comes in at $74,942 and the median home value is $560,100 for 2019.

Passaic, NJ

Source: Public domain
Overall SnackAbility

6
/10

Population: 71,057
Rank Last Year: 6 (Down 1)
Home Price To Income Ratio: 8.9x (1st most expensive)
Income To Rent Ratio: 30.5x (4th most expensive)
More on Passaic: Real Estate | Data | Photos

Passaic is a city in Passaic County, New Jersey, United States. As of the 2010 United States Census, the city had a total population of 69,781, maintaining its status as the 15th largest municipality in New Jersey with an increase of 1,920 residents from the 2000 Census population of 67,861, which had in turn increased by 9,820 from the 58,041 counted in the 1990 Census. Passaic is the tenth most densely populated municipality in the entire United States with 22,000+ people per square mile.

The median income in Passaic comes in at $34,920 and the median home value is $309,700 for 2019.

Lodi, NJ

Overall SnackAbility

7
/10

Population: 24,805
Rank Last Year: 14 (Up 6)
Home Price To Income Ratio: 6.5x (15th most expensive)
Income To Rent Ratio: 46.6x (37th most expensive)
More on Lodi: Real Estate | Data | Photos

The median income in Lodi comes in at $57,188 and the median home value is $369,800 for 2019.

Rumson, NJ

Overall SnackAbility

10
/10

Population: 6,874
Rank Last Year: 4 (Down 5)
Home Price To Income Ratio: 6.6x (12th most expensive)
Income To Rent Ratio: 61.1x (115th most expensive)
More on Rumson: Real Estate | Data | Photos

Rumson is a borough in Monmouth County, New Jersey, United States and is part of the New York Metropolitan Area. As of the 2010 census, the borough’s population was 7,122, reflecting a decline of 15 from 7,137 in 2000, which had in turn increased by 436 from 6,701 in 1990.

The median income in Rumson comes in at $158,229 and the median home value is $1,048,500 for 2019.

Overall SnackAbility

8
/10

Population: 14,422
Rank Last Year: 12 (Up 2)
Home Price To Income Ratio: 6.3x (21st most expensive)
Income To Rent Ratio: 44.4x (27th most expensive)
More on Fairview: Real Estate | Data

The median income in Fairview comes in at $56,057 and the median home value is $351,400 for 2019.

How We Determined The Most Expensive Places To Live In The Garden State For 2019

Map Of The Cheapest Places To Live In New Jersey
The two most important things to think about when it comes to being able to afford if you can live comes down to:

  1. How much do money do I make?
  2. How much do I have spend to live there?

You need to understand your costs in the context of how much money you make.

For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.

With that example in mind, we derived several statistics from the latest Census American Community Survey 2013-2017 around incomes and costs. They are:

  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (Higher is better)
  • Median Home Price

We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).

You can then compare these metrics in each of the places in New Jersey to figure out which is the most expensive.

What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.

So we used that cost of living index in order to rank all of the 187 places in New Jersey that have more than 5,000 people.

The place with the highest cost of living in New Jersey according to the data is Englewood Cliffs.

Taking A Chunk Out Of Your Paycheck In New Jersey For 2019

Well there you have it, the places in New Jersey that have the highest cost of living, with Englewood Cliffs ranking as the most expensive city in the Garden State.

Here’s a look at the most affordable cities in New Jersey according to the data:

  1. Audubon
  2. Stratford
  3. Barrington

For more New Jersey reading, check out:

Detailed List Of The Most Expensive Cities In New Jersey

Rank City ExpensiveScore Population Home/Income Ratio Income/Rent Ratio
1 Englewood Cliffs 10.67 5,435 7.4x 42.3x
2 Palisades Park 24.67 20,716 8.1x 45.5x
3 Ridgefield 27.0 11,369 6.7x 41.9x
4 Edgewater 33.67 12,165 5.4x 45.6x
5 Asbury Park 34.67 15,830 8.5x 33.9x
6 Belmar 37.33 5,719 7.5x 53.8x
7 Passaic 38.0 71,057 8.9x 30.5x
8 Lodi 41.67 24,805 6.5x 46.6x
9 Rumson 42.67 6,874 6.6x 61.1x
10 Fairview 43.0 14,422 6.3x 44.4x
11 Cliffside Park 45.0 24,861 6.4x 50.9x
12 Demarest 45.0 5,031 4.5x 47.4x
13 Union City 45.33 69,815 6.8x 36.9x
14 Long Branch 46.67 30,751 6.2x 43.9x
15 Florham Park 48.67 11,792 5.0x 53.6x
16 Garfield 49.0 31,808 6.1x 42.3x
17 West New York 49.33 53,345 6.3x 41.5x
18 Paramus 51.0 26,919 5.5x 56.4x
19 New Brunswick 52.33 56,792 6.7x 27.5x
20 Franklin Lakes 53.0 10,953 6.3x 65.2x
21 Margate City 54.67 6,200 6.9x 59.9x
22 Ocean City 55.33 11,328 7.8x 64.1x
23 Jersey City 56.33 265,932 5.5x 49.4x
24 Paterson 56.33 147,890 6.5x 31.4x
25 Old Tappan 57.0 5,999 5.4x 64.0x
26 Wildwood 57.0 5,136 7.4x 33.6x
27 Hoboken 57.67 54,117 5.1x 60.7x
28 Roseland 57.67 5,907 4.5x 49.1x
29 Wallington 58.33 11,701 5.6x 52.7x
30 Summit 59.0 22,155 6.4x 76.0x
31 Bayonne 59.0 66,719 5.6x 47.8x
32 Elizabeth 59.0 129,363 5.9x 40.7x
33 Brigantine 61.0 9,164 5.3x 52.0x
34 Little Ferry 61.33 10,942 5.3x 48.2x
35 Newark 61.33 282,803 6.4x 34.3x
36 Freehold 62.67 11,938 5.0x 41.0x
37 Woodland Park 62.67 12,542 5.0x 51.7x
38 Harrison 63.0 15,898 5.1x 45.8x
39 Atlantic City 63.0 39,075 6.5x 30.3x
40 Ventnor City 63.67 10,429 5.5x 46.8x
41 Upper Saddle River 64.67 8,339 5.2x 72.4x
42 Prospect Park 66.17 5,955 5.1x 37.6x
43 Guttenberg 66.33 11,733 5.0x 40.9x
44 Princeton 66.67 30,722 6.4x 87.6x
45 Red Bank 66.67 12,220 4.9x 53.7x
46 East Rutherford 67.33 9,433 4.9x 54.5x
47 Hackensack 67.67 44,673 4.9x 44.4x
48 Elmwood Park 68.67 20,293 4.5x 49.0x
49 Madison 69.33 16,080 5.5x 77.9x
50 Morristown 69.67 18,833 4.8x 56.8x
51 Watchung 71.33 5,961 5.9x 84.0x
52 Fort Lee 71.67 37,058 4.3x 46.0x
53 Montvale 71.67 8,440 5.1x 67.0x
54 Westwood 72.33 11,246 4.6x 56.7x
55 Leonia 72.33 9,191 5.4x 64.7x
56 Norwood 72.67 5,864 5.1x 73.0x
57 Kearny 73.0 42,487 5.0x 52.2x
58 Manasquan 73.0 5,824 6.1x 84.2x
59 Closter 73.33 8,710 4.8x 65.9x
60 Caldwell 74.0 8,032 5.1x 61.9x
61 Highland Park 74.67 14,250 4.7x 55.2x
62 Perth Amboy 75.0 52,563 4.8x 41.0x
63 Englewood 76.0 28,509 4.6x 56.4x
64 Tinton Falls 76.33 17,902 4.0x 39.1x
65 Tenafly 76.33 14,882 5.1x 89.6x
66 Park Ridge 78.0 8,905 5.1x 75.4x
67 Raritan 78.33 7,758 4.2x 48.0x
68 East Orange 78.33 65,151 4.9x 40.0x
69 Mountainside 78.67 6,907 4.8x 69.8x
70 Cresskill 79.0 8,811 4.4x 63.3x
71 Woodcliff Lake 81.33 5,868 4.8x 85.9x
72 South River 82.0 16,345 4.6x 50.1x
73 Eato 82.0 12,258 5.0x 57.0x
74 New Milford 82.33 16,760 4.7x 61.8x
75 Midland Park 82.33 7,336 4.6x 64.4x
76 North Arlington 83.0 15,877 4.7x 57.8x
77 Little Silver 83.33 5,917 4.2x 64.0x
78 Ridgewood 84.0 25,554 4.6x 82.3x
79 Hasbrouck Heights 84.33 12,205 4.6x 62.0x
80 Fanwood 85.33 7,648 3.3x 48.9x
81 North Haledon 85.33 8,564 4.4x 60.3x
82 Fair Haven 85.67 6,015 4.3x 74.2x
83 Rutherford 86.0 18,622 4.8x 67.8x
84 Emerson 86.0 7,668 4.2x 60.2x
85 Bernardsville 86.0 7,792 4.7x 87.5x
86 Ridgefield Park 86.33 13,070 4.5x 55.2x
87 Maywood 87.0 9,789 4.3x 58.9x
88 Wharton 87.33 6,591 4.3x 50.3x
89 Allendale 87.67 6,820 4.5x 79.7x
90 Clifton 88.0 86,207 4.4x 55.4x
91 Morris Plains 90.0 5,605 3.9x 59.2x
92 Secaucus 90.33 19,279 4.3x 62.7x
93 Westfield 90.33 30,591 4.5x 100.3x
94 Chatham 91.33 9,003 4.5x 96.5x
95 New Providence 93.33 12,716 4.5x 83.0x
96 Haledon 95.33 8,440 4.1x 48.0x
97 Plainfield 97.33 51,097 4.2x 48.2x
98 Bound Brook 97.67 10,510 4.2x 51.2x
99 Middlesex 99.5 13,875 4.0x 52.8x
100 Keyport 100.0 7,138 4.5x 54.3x

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.