Palisades Park, NJ Cost Of Living

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

Cost Of Living In Palisades Park, NJ Summary

Cost of living in Palisades Park 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 Palisades Park 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 Palisades Park is 162, with 100 being the average.

  • The cost of living index in Palisades Park is 1.6x higher than the national average.

  • Palisades Park ranks as the #216 cheapest in New Jersey out of 251.

  • Palisades Park ranks as the #6,023 cheapest out of 6,412 in the US.

  • The median home value in Palisades Park is $604,500.

  • The median income in Palisades Park is $76,297.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
162
Palisades Park's Overall Cost Of Living
1.6x
Higher Than The National Average

What is the cost of living in Palisades Park, NJ?

According to the most recent data on the cost of living, Palisades Park has an overall cost of living index of 162, which is 1.6x higher than the national index of 100.

Compared to New Jersey, Palisades Park has a cost of living index that's 1.5x higher than New Jersey's index of 111.

The standard of living in Palisades Park ranks as #216 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Palisades Park ranks as the #35 most expensive place in the Garden State.

For more reading on life in Palisades Park, check out:

216 out of 251
In New Jersey
6,023 out of 6,412
In America

Palisades Park Cost Of Living Vs. New Jersey

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

  • The Services index in Palisades Park is 133.

  • The Groceries index in Palisades Park is 147.

  • The Health index in Palisades Park is 112.

  • The Housing index in Palisades Park is 238.

  • The Transportation index in Palisades Park is 130.

  • The Utilities index in Palisades Park is 99.

Living Expense Palisades Park New Jersey National Average
Overall 162 111 100
Services 133 104 100
Groceries 147 104 100
Health 112 95 100
Housing 238 130 100
Transportation 130 106 100
Utilities 99 108 100
For more reading on cost of living around New Jersey, check out:
Palisades Park Cost of Living Vs. NJ

Palisades Park, 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 Palisades Park is $604,500.

  • The Median Rent in Palisades Park is $1,697.

  • The Median Income in Palisades Park is $76,297.

  • The Home Value To Income in Palisades Park is 7.9x.

  • The Rent To Monthly Income in Palisades Park is 0.27x.

Statistic Palisades Park New Jersey United States
Median Home Value $604,500 $355,700 $244,900
Median Rent $1,697 $1,436 $1,163
Median Income $76,297 $89,703 $69,021
Home Value To Income 7.9x 4.0x 3.5x
Rent To Monthly Income 0.27x 0.19x 0.2x
Search Homes For Sale In Palisades Park, NJ
$604,500
Median Home Value
$1,697
Median Rent
$76,297
Median Income

Palisades Park, NJ Costs By Category

Detailed Palisades Park Services Costs Vs. New Jersey

Item Palisades Park New Jersey
Shampoo $1.67 $1.06
Movie $16.31 $10.68
Bowling $20.49 $14.67
Haircut $23.25 $18.62
Beauty Salon $60.79 $39.05

Detailed Palisades Park Groceries Costs Vs. New Jersey

Item Palisades Park New Jersey
Ground Beef $6.4 $4.22
Fried Chicken $2.65 $1.39
Milk $3.11 $2.05
Potatoes $4.16 $3.29
Pizza $12.33 $10.62
Beer $12.01 $9.38
Toothpaste $4.42 $2.34

Detailed Palisades Park Health Costs Vs. New Jersey

Item Palisades Park New Jersey
Optometrist $108.08 $108.57
Doctor $106.72 $116.17
Dentist $124.43 $99.13

Detailed Palisades Park Transportation Costs Vs. New Jersey

Item Palisades Park New Jersey
Gasoline $2.62 $2.22
Tire Balancing $80.22 $50.07

Detailed Palisades Park Utilities Costs Vs. New Jersey

Item Palisades Park New Jersey
All Electricity $157.7 $167.67
Phone $189.52 $175.64

Palisades Park SnackAbility

8.5
/10
Overall SnackAbility
Jobs
8/10
Housing
9.5
Affordability
4
Diversity
9
Safety
9
Amenities
9.5
Education
8
Commute
3

Cost Of Living In Cities Around Palisades Park

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

  • Fort Lee, NJ has a cost of living index of 141, 0.9x Palisades Park.

  • Cliffside Park, NJ has a cost of living index of 152, 0.9x Palisades Park.

  • North Valley Stream, NY has a cost of living index of 148, 0.9x Palisades Park.

City Population Cost Of Living Vs. Palisades Park
Fort Lee, NJ 39,701 141 0.9x
Cliffside Park, NJ 25,515 152 0.9x
North Valley Stream, NY 18,345 148 0.9x
Port Washington, NY 16,807 185 1.1x
North New Hyde Park, NY 15,125 170 1.0x
Fairview, NJ 14,918 140 0.9x
Edgewater, NJ 14,234 171 1.1x
Ridgefield Park, NJ 13,202 141 0.9x
Ridgefield, NJ 11,477 155 1.0x
Little Ferry, NJ 10,973 140 0.9x

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