F
20%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
53%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Roselle Park New Jersey National
Cost of living120121100
Goods & Services107106100
Groceries102102100
Health care9699100
Housing153158100
Transportation108103100
Utilities111107100

An Overview of Cost of Living in Roselle Park, NJ

Are you thinking about relocating, but curious about the potential cost of living in Roselle Park? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Roselle Park stands at 120, making it 20% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If you prioritize affordability when seeking a new place to live, Roselle Park may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Roselle Park falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs are a major factor in the Roselle Park cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 53.2% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Roselle Park Affordable?

Is Roselle Park an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Roselle Park is 60.2% higher than the national average, while the average monthly rent prices are 36.9% higher than average. The affordability of any location can also be influenced by median income levels. Roselle Park has a median household income of $80,842, which is 46.1% higher than the national average.

What Factors can Influence the Cost of Living in Roselle Park?

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Roselle Park, the housing index stands at 53.2% higher than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Roselle Park, the transportation index is 8.3% higher than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Roselle Park, the groceries index is 2.1% higher than the national average.

Where is the Data From?

The Roselle Park cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Roselle Park is equal to the New Jersey average
  • The cost of living in Roselle Park is 20% higher than the national average
  • Roselle Park housing is 53% higher than the national average
  • New Jersey general sales tax is 30% higher than the national average
  • New Jersey state income tax is 38% lower than the national average

Most Affordable Places to Live in and Around Roselle Park

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Compare Roselle Park, NJ Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$110,513$9,209$2,578$3,316
      Renters$57,444$4,787$1,340$1,723
      To approximate the cost of living and the housing affordability in Roselle Park, NJ, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Roselle Park have a median income of $110,513. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,578 per month to avoid calamity and poverty. The renters in the city have an income of about $57,444, which would make their monthly maximum allowable rental costs $1,340.

      New Jersey Sales Tax

      State General Sales Tax With Max Surtax
      New Jersey 6.625% 12.625%

      New Jersey Income Tax

      State Income Tax (Low) Income Tax (High)
      New Jersey 1.4% 10.75%

      Goods & Services

      Item Roselle Park National avg. Difference
      Haircut $25.62$24.265.6%
      Beauty Salon $41.67$45.568.6%
      Toothpaste $3.72$3.700.4%
      Shampoo $1.48$1.2815.6%
      Movie $15.78$12.1330.1%
      Bowling $21.00$18.0016.7%

      Groceries

      Item Roselle Park National avg. Difference
      Ground Beef $5.65$5.843.3%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.71$4.670.7%
      Potatoes $5.37$4.938.8%
      Pizza $11.49$12.094.9%
      Beer $11.33$10.418.8%

      Health Care

      Item Roselle Park National avg. Difference
      Optometrist $157.11$125.6825.0%
      Doctor $115.59$135.7814.9%
      Dentist $124.27$113.299.7%
      Ibuprofen $11.15$10.654.6%
      Lipitor $451.73$468.603.6%

      Housing

      Item Roselle Park National avg. Difference
      Home Price $295,800.00$184,700.0060.2%
      Avg. Mortgage Payment $3,568.94$2,346.6952.1%
      Apartment Rent $1,299.00$949.0036.9%

      Transportation

      Item Roselle Park National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $82.67$59.9238.0%

      Utilities

      Item Roselle Park National avg. Difference
      All Electricity $236.04$193.9921.7%
      Phone $186.61$192.252.9%
      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 Population Cost of Living Index National Avg.
      Victory Gardens, NJ1,6041011.2%
      Keansburg, NJ9,69711010.4%
      East Orange, NJ64,65011111.1%
      Roselle, NJ21,69911212.0%
      Silver Lake CDP (Warren County), NJ32011313.2%
      Roselle Park, NJ13,57412020.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      South Glengarry, ON13,573n/a 
      Monroe, GA13,568937.2%
      Elizabethton, TN13,5689010.2%
      Olean, NY13,5808118.7%
      Ardmore, PA13,56712625.9%
      Roselle Park, NJ13,57412020.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.