Fanwood, NJ Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Fanwood, NJ Summary

Cost of living in Fanwood research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Fanwood is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in New Jersey, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Fanwood is 149, with 100 being the average.

  • The cost of living index in Fanwood is 1.5x higher than the national average.

  • Fanwood ranks as the #199 cheapest in New Jersey out of 251.

  • Fanwood ranks as the #5,822 cheapest out of 6,412 in the US.

  • The median home value in Fanwood is $498,400.

  • The median income in Fanwood is $178,311.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
149
Fanwood's Overall Cost Of Living
1.5x
Higher Than The National Average

What is the cost of living in Fanwood, NJ?

According to the most recent data on the cost of living, Fanwood has an overall cost of living index of 149, which is 1.5x higher than the national index of 100.

Compared to New Jersey, Fanwood has a cost of living index that's 1.3x higher than New Jersey's index of 111.

The standard of living in Fanwood ranks as #199 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Fanwood ranks as the #52 most expensive place in the Garden State.

For more reading on life in Fanwood, check out:

199 out of 251
In New Jersey
5,822 out of 6,412
In America

Fanwood Cost Of Living Vs. New Jersey

Six factors go into calculating the cost of living index in Fanwood. Here is how it fairs on each of the criteria:

  • The Services index in Fanwood is 112.

  • The Groceries index in Fanwood is 109.

  • The Health index in Fanwood is 104.

  • The Housing index in Fanwood is 246.

  • The Transportation index in Fanwood is 108.

  • The Utilities index in Fanwood is 102.

Living Expense Fanwood New Jersey National Average
Overall 149 111 100
Services 112 104 100
Groceries 109 104 100
Health 104 95 100
Housing 246 130 100
Transportation 108 106 100
Utilities 102 108 100
For more reading on cost of living around New Jersey, check out:
Fanwood Cost of Living Vs. NJ

Fanwood, NJ Housing Cost Breakdown

Housing swings affordability the most between places in New Jersey, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Fanwood is $498,400.

  • The Median Rent in Fanwood is $1,869.

  • The Median Income in Fanwood is $178,311.

  • The Home Value To Income in Fanwood is 2.8x.

  • The Rent To Monthly Income in Fanwood is 0.13x.

Statistic Fanwood New Jersey United States
Median Home Value $498,400 $355,700 $244,900
Median Rent $1,869 $1,436 $1,163
Median Income $178,311 $89,703 $69,021
Home Value To Income 2.8x 4.0x 3.5x
Rent To Monthly Income 0.13x 0.19x 0.2x
Search Homes For Sale In Fanwood, NJ
$498,400
Median Home Value
$1,869
Median Rent
$178,311
Median Income

Fanwood, NJ Costs By Category

Detailed Fanwood Services Costs Vs. New Jersey

Item Fanwood New Jersey
Shampoo $1.03 $1.06
Movie $12.59 $10.68
Bowling $17.73 $14.67
Haircut $20.73 $18.62
Beauty Salon $36.4 $39.05

Detailed Fanwood Groceries Costs Vs. New Jersey

Item Fanwood New Jersey
Ground Beef $3.87 $4.22
Fried Chicken $1.67 $1.39
Milk $2.41 $2.05
Potatoes $3.09 $3.29
Pizza $11.4 $10.62
Beer $9.19 $9.38
Toothpaste $2.16 $2.34

Detailed Fanwood Health Costs Vs. New Jersey

Item Fanwood New Jersey
Optometrist $101.33 $108.57
Doctor $94.5 $116.17
Dentist $113.15 $99.13

Detailed Fanwood Transportation Costs Vs. New Jersey

Item Fanwood New Jersey
Gasoline $2.26 $2.22
Tire Balancing $56.66 $50.07

Detailed Fanwood Utilities Costs Vs. New Jersey

Item Fanwood New Jersey
All Electricity $174.26 $167.67
Phone $179.87 $175.64

Fanwood SnackAbility

10
/10
Overall SnackAbility
Jobs
8.5/10
Housing
9.5
Affordability
8.5
Diversity
8
Safety
9
Amenities
9
Education
9.5
Commute
1

Cost Of Living In Cities Around Fanwood

The cost of living varies in the cities and towns around Fanwood. Here's a quick look at the cost of living in the most populous nearby places:

  • Plainfield, NJ has a cost of living index of 114, 0.8x Fanwood.

  • Westfield, NJ has a cost of living index of 170, 1.1x Fanwood.

  • South Plainfield, NJ has a cost of living index of 126, 0.8x Fanwood.

City Population Cost Of Living Vs. Fanwood
Plainfield, NJ 54,183 114 0.8x
Westfield, NJ 30,950 170 1.1x
South Plainfield, NJ 24,251 126 0.8x
North Plainfield, NJ 22,635 119 0.8x
Summit, NJ 22,598 185 1.2x
Colonia, NJ 18,776 127 0.9x
Bradley Gardens, NJ 14,798 144 1.0x
Middlesex, NJ 14,513 123 0.8x
New Providence, NJ 13,570 154 1.0x
Florham Park, NJ 12,655 165 1.1x

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