| Index | Cherry Hill | Virginia | National |
| Cost of living | 128 | 111 | 100 |
| Groceries | 103 | 103 | 100 |
| Health care | 103 | 103 | 100 |
| Housing | 184 | 129 | 100 |
| Transportation | 108 | 105 | 100 |
| Utilities | 106 | 104 | 100 |
| Lifestyle & Entertainment | 108 | 103 | 100 |
| Household Items | 101 | 102 | 100 |
| Education & Childcare | 107 | 109 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Cherry Hill? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Cherry Hill stands at 128, making it 28% 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're in pursuit of an economical living environment, Cherry Hill 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, Cherry Hill falls within this bracket.
Housing costs make up a big chunk of the cost of living in Cherry Hill, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 83.8% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Wondering if Cherry Hill is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Cherry Hill, for example, the median home price is 86.7% higher than what folks pay nationally, and monthly rent is 76.8% higher than the usual rates. Plus, income levels matter too, with Cherry Hill boasting a median household income of $133,217, which is 63.8% higher than the national average.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Cherry Hill, the housing index is 83.8% higher than the national average.
Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Cherry Hill, the utilities index registers 5.5% 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 Cherry Hill, the groceries index is 2.7% higher than the national average.
The cost of living data for Cherry Hill shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $180,782 | $15,065 | $4,218 | $5,424 |
| Renters | $82,970 | $6,914 | $1,936 | $2,489 |
| State | General Sales Tax | With Max Surtax |
| Virginia | 5.3% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Virginia | 2% | 5.75% |
| City | Population | Cost of Living Index | National Avg. |
| Port Tobacco Village, MD | 4 | 110 | 10.1% |
| Potomac Heights, MD | 1,295 | 90 | 10.5% |
| Woodlawn CDP (Carroll County), VA | 2,334 | 89 | 11.3% |
| Boswell's Corner, VA | 1,479 | 94 | 5.6% |
| Belle Haven town, VA | 578 | 99 | 1.4% |
| Cherry Hill, VA | 20,952 | 128 | 28.5% |
| City | Population | Cost of Living Index | National Avg. |
| Woodbridge, NJ | 20,955 | 127 | 27.0% |
| Albany, CA | 20,944 | 207 | 106.5% |
| La Crescenta-Montrose, CA | 20,963 | 199 | 98.7% |
| Payson, UT | 20,937 | 111 | 11.0% |
| Wade Hampton, SC | 20,936 | 105 | 5.0% |
| Cherry Hill, VA | 20,952 | 128 | 28.5% |
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