Cost Of Living in Boonton, NJ

Get 300+ Local Insights for Any Address in Boonton, NJ

Get Access to 300+ Local Data Points

F

29%

Overall NAT. AVG.

0%

Goods & Services NAT. AVG.

97%

Housing NAT. AVG.

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	Boonton	New Jersey	National
Cost of living	129	121	100
Goods & Services	100	106	100
Groceries	102	102	100
Health care	99	99	100
Housing	197	158	100
Transportation	95	103	100
Utilities	102	107	100

Does this Area Fit Your Budget?

Know the community before you call it home
Compare multiple areas side by side
Access over 300 data points for any address

GET REPORT →

Cost Of Living Quick Facts

The cost of living in Boonton is 7% higher than the New Jersey average
The cost of living in Boonton is 29% higher than the national average
Boonton housing is 97% higher than the national average
New Jersey general sales tax is 30% higher than the national average
New Jersey state income tax is 46% lower than the national average

Most Affordable Places to Live in and Around Boonton

See all the best places to live around Boonton

Compare Boonton, NJ Cost of Living

Compare Neighborhoods & Addresses

Why stop at city-to-city? With Local Insights, you can compare neighborhoods, zip codes, or even exact addresses. Access 300+ hyperlocal data points—from schools and crime to housing and amenities—to see which area is the better fit.

UNLOCK FULL COMPARISON →

Write a review to give others more information about this area.

See all Boonton poll results

The best places in New Jersey

Here are the best places to live in New Jersey

See the best places to live in Boonton

Most Dangerous Cities In The US

Safest Cities In The US

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	$120,417	$10,035	$2,810	$3,613
Renters	$52,188	$4,349	$1,218	$1,566

To approximate the cost of living and the housing affordability in Boonton, 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 Boonton have a median income of $120,417. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,810 per month to avoid calamity and poverty. The renters in the city have an income of about $52,188, which would make their monthly maximum allowable rental costs $1,218.

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	Boonton	National avg.	Difference
Haircut	$29.17	$24.26	20.2%
Beauty Salon	$40.36	$45.56	11.4%
Toothpaste	$3.66	$3.70	1.2%
Shampoo	$1.44	$1.28	12.1%
Movie	$14.15	$12.13	16.6%
Bowling	$25.03	$18.00	39.0%

Groceries

Item	Boonton	National avg.	Difference
Ground Beef	$5.64	$5.84	3.5%
Fried Chicken	$1.55	$1.57	1.4%
Milk	$4.74	$4.67	1.5%
Potatoes	$5.21	$4.93	5.7%
Pizza	$11.49	$12.09	4.9%
Beer	$11.66	$10.41	12.0%

Health Care

Item	Boonton	National avg.	Difference
Optometrist	$105.11	$125.68	16.4%
Doctor	$117.94	$135.78	13.1%
Dentist	$121.22	$113.29	7.0%
Ibuprofen	$11.05	$10.65	3.7%
Lipitor	$427.79	$468.60	8.7%

Housing

Item	Boonton	National avg.	Difference
Home Price	$406,300.00	$184,700.00	120.0%
Avg. Mortgage Payment	$3,303.56	$2,346.69	40.8%
Apartment Rent	$1,348.00	$949.00	42.0%

Transportation

Item	Boonton	National avg.	Difference
Gasoline	$3.45	$3.46	0.2%
Tire Balancing	$77.33	$59.92	29.1%

Utilities

Item	Boonton	National avg.	Difference
All Electricity	$230.68	$193.99	18.9%
Phone	$186.61	$192.25	2.9%

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, NJ	1,604	101	1.2%
Franklin, NJ	4,737	102	1.9%
East Orange, NJ	64,650	111	11.1%
Silver Lake CDP (Warren County), NJ	320	113	13.2%
Newark, NJ	281,917	114	14.0%
Boonton, NJ	8,510	129	29.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Indian Harbour Beach, FL	8,509	114	14.2%
Park Hills, MO	8,512	81	18.7%
Reserve, LA	8,506	86	13.7%
West Haven-Sylvan, OR	8,505	155	54.9%
Cumberland Hill, RI	8,515	117	17.5%
Boonton, NJ	8,510	129	29.0%