Ridgefield Park cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexRidgefield ParkNew JerseyNational
Cost of living index143131100
IndexRidgefield ParkNew JerseyNational
Goods & Services index127118100
Groceries index132116100
Health care index115111100
Housing index174166100
Transportation index134118100
Utilities index133110100
A general summary of the cost of living index in Ridgefield Park, NJ is shown above. Compared to the state average of New Jersey the cost of living index in Ridgefield Park, NJ is 143, which is 9% higher than the average in New Jersey and compared to the national average it is 43% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Ridgefield Park, NJ goods and services come in at 8% higher than the average in New Jersey and are 27% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Ridgefield Park is 9% higher than the New Jersey average.
  • The cost of living in Ridgefield Park is 43% higher than the national average.
  • The cost of housing in Ridgefield Park is 74% higher than the national average.
  • New Jersey general sales tax is 37% higher than the national average.
  • New Jersey state income tax is 37% lower than the national average.

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Compare Ridgefield Park, NJ Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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The salary calculator is used in order to provide a comparison of your current salary in Ridgefield Park, NJ to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Ridgefield Park, NJ, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Ridgefield Park, NJ salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$92,500$7,708$2,158$2,775
Renters$46,472$3,873$1,084$1,394
If you want to find a good determining factor for the cost of living and the general affordability of housing in Ridgefield Park, NJ, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Ridgefield Park, NJ, the median monthly income is $92,500 for those who own their own homes. Under the standard rule, that income level would allow for $2,158 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $46,472, per the median income in the area. That would allow for renters to spend up to $1,084 on monthly rental expenses.

New Jersey Sales Tax

StateGeneral Sales TaxWith Max Surtax
New Jersey7%7%

New Jersey Income Tax

StateIncome Tax (Low)Income Tax (High)
New Jersey1.4%8.97%
When you are determining the total cost of living in Ridgefield Park, NJ you will want to make sure you consider both the New Jersey sales tax and the New Jersey income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in New Jersey is 7%, with the highest surtax being 7%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in New Jersey have a range from 1.4% to 8.97%.

Goods & Services

ItemRidgefield ParkNational avg.Difference
Haircut $20.00$14.5937.0%
Beauty Salon $65.00$34.6887.4%
Toothpaste $3.89$2.4757.3%
Shampoo $0.99$1.023.1%
Movie $14.00$9.8741.9%
Bowling $12.00$4.39173.2%

Groceries

ItemRidgefield ParkNational avg.Difference
Ground Beef $4.49$4.480.3%
Fried Chicken $1.94$1.4632.5%
Milk $1.96$2.3616.8%
Potatoes $4.89$3.0659.7%
Pizza $11.50$9.2424.4%
Beer $9.89$8.6314.6%

Health Care

ItemRidgefield ParkNational avg.Difference
Optometrist $99.50$99.780.3%
Doctor $115.00$105.039.5%
Dentist $112.88$88.7027.3%
Ibuprofen $12.39$9.4131.6%
Lipitor $298.37$298.500.0%

Housing

ItemRidgefield ParkNational avg.Difference
Home Price $333,800.00$175,700.0090.0%
Avg. Mortgage Payment $3,389.29$1,081.03213.5%
Apartment Rent $1,256.00$920.0036.5%

Transportation

ItemRidgefield ParkNational avg.Difference
Gasoline $2.64$2.0926.2%
Tire Balancing $69.96$45.2954.5%

Utilities

ItemRidgefield ParkNational avg.Difference
All Electricity$259.37$170.8051.9%
Phone $30.33$28.267.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Greenville, NY5731044%
East Orange, NJ64,53811313%
Newark, NJ278,75011414%
Roselle, NJ21,34811414%
Silver Lake, NJ3,59412323%
Ridgefield Park, NJ12,87514343%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Port Neches, TX12,87791-9%
Rochester, MI12,8721099%
Centralia, IL12,88083-17%
Hamilton Square, NJ12,87012828%
Ardmore, PA12,86712828%
Ridgefield Park, NJ12,87514343%
Source: The Ridgefield Park, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.