F
25%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
64%
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 Woodbridge New Jersey National
Cost of living125121100
Goods & Services111106100
Groceries103102100
Health care10299100
Housing164158100
Transportation105103100
Utilities108107100

An Overview of Cost of Living in Woodbridge, NJ

The cost of living in Woodbridge affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Woodbridge is 125, which is 25% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

If you're in pursuit of an economical living environment, Woodbridge may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Woodbridge falls within this bracket.

When it comes to the cost of living in Woodbridge, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 63.5% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Woodbridge, these items will cost you 11.3% more than what most folks pay, making it a bit more expensive to live here.

Is Woodbridge Affordable?

Is Woodbridge 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 Woodbridge is 53.3% higher than the national average, while the average monthly rent prices are 87.5% higher than average. The affordability of any location can also be influenced by median income levels. Woodbridge has a median household income of $93,837, which is 69.6% higher than the national average.

What Factors can Influence the Cost of Living in Woodbridge?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Woodbridge, the transportation index is 5.1% higher than the national average.

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 Woodbridge, the housing index stands at 63.5% higher than the national average.

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Where is the Data From?

The Woodbridge cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Woodbridge is 3% higher than the New Jersey average
  • The cost of living in Woodbridge is 25% higher than the national average
  • Woodbridge housing is 64% 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 Woodbridge

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Compare Woodbridge, 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$98,996$8,250$2,310$2,970
      Renters$90,573$7,548$2,113$2,717
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Woodbridge, NJ, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Woodbridge, homeowners have a median income of $98,996. Using that number, a maximum of $2,310 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $90,573, which means there is a maximum of $2,113 to be spent on the costs of renting a home or apartment.

      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 Woodbridge National avg. Difference
      Haircut $30.25$24.2624.7%
      Beauty Salon $53.00$45.5616.3%
      Toothpaste $3.75$3.701.3%
      Shampoo $1.53$1.2819.8%
      Movie $14.53$12.1319.7%
      Bowling $20.98$18.0016.6%

      Groceries

      Item Woodbridge National avg. Difference
      Ground Beef $6.13$5.845.0%
      Fried Chicken $1.41$1.5710.4%
      Milk $4.70$4.670.5%
      Potatoes $5.32$4.937.8%
      Pizza $12.59$12.094.2%
      Beer $11.12$10.416.8%

      Health Care

      Item Woodbridge National avg. Difference
      Optometrist $129.93$125.683.4%
      Doctor $124.10$135.788.6%
      Dentist $129.94$113.2914.7%
      Ibuprofen $11.14$10.654.6%
      Lipitor $440.70$468.606.0%

      Housing

      Item Woodbridge National avg. Difference
      Home Price $283,100.00$184,700.0053.3%
      Avg. Mortgage Payment $2,956.12$2,346.6926.0%
      Apartment Rent $1,779.00$949.0087.5%

      Transportation

      Item Woodbridge National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $72.38$59.9220.8%

      Utilities

      Item Woodbridge National avg. Difference
      All Electricity $223.08$193.9915.0%
      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.
      Zarephath, NJ941087.8%
      Keansburg, NJ9,69711010.4%
      East Orange, NJ64,65011111.1%
      Roselle, NJ21,69911212.0%
      Newark, NJ281,91711414.0%
      Woodbridge, NJ20,50012524.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      South Frontenac, ON20,491n/a 
      Grayslake, IL20,48211111.1%
      Marblehead, MA20,53017978.5%
      Palm Valley, FL20,54013635.8%
      Adrian, MI20,5508713.2%
      Woodbridge, NJ20,50012524.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.