| Index | Freehold | New Jersey | National |
| Cost of living | 129 | 125 | 100 |
| Groceries | 106 | 108 | 100 |
| Health care | 113 | 112 | 100 |
| Housing | 166 | 157 | 100 |
| Transportation | 116 | 114 | 100 |
| Utilities | 115 | 111 | 100 |
| Lifestyle & Entertainment | 114 | 113 | 100 |
| Household Items | 106 | 107 | 100 |
| Education & Childcare | 125 | 120 | 100 |
Knowing the cost of living in Freehold allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Freehold stands at 129, marking it 29% higher than the national average.
If you value affordability in your search for a new place to live, Freehold may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Freehold falls into this category, which may not align with your desire for an affordable place to call home.
When it comes to the cost of living in Freehold, 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 65.6% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Wondering if Freehold 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 Freehold, for example, the median home price is 68.1% higher than what folks pay nationally, and monthly rent is 59.6% higher than the usual rates. Plus, income levels matter too, with Freehold boasting a median household income of $88,621, which is 9% higher than the national average.
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday household expenses like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Freehold starts at 6.625% and the income tax rates start at 1.4%.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Freehold, is 65.6% higher than the national average.
The cost of living estimates displayed for Freehold are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $138,554 | $11,546 | $3,233 | $4,157 |
| Renters | $56,885 | $4,740 | $1,327 | $1,707 |
| State | General Sales Tax | With Max Surtax |
| New Jersey | 6.625% | 12.625% |
| State | Income Tax (Low) | Income Tax (High) |
| New Jersey | 1.4% | 10.75% |
| City | Population | Cost of Living Index | National Avg. |
| Cedar Glen West, NJ | 1,846 | 87 | 13.5% |
| Leisure Village, NJ | 4,863 | 102 | 2.3% |
| Rossmoor, NJ | 2,769 | 104 | 3.7% |
| Leisure Village West, NJ | 3,853 | 107 | 7.4% |
| Leisure Village East, NJ | 3,893 | 109 | 9.2% |
| Freehold, NJ | 12,020 | 129 | 28.5% |
| City | Population | Cost of Living Index | National Avg. |
| Kings, Subd. B, NS | 12,020 | n/a | |
| Evanston, WY | 12,021 | 97 | 3.2% |
| Rawdon, QC | 12,021 | n/a | |
| Adjala-Tosorontio, ON | 12,021 | n/a | |
| Okmulgee, OK | 12,018 | 81 | 19.0% |
| Freehold, NJ | 12,020 | 129 | 28.5% |
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