Cost of Living in Garwood, NJ

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

Get Access to 300+ Local Data Points
F
39%
Overall NAT. AVG.
8%
Groceries NAT. AVG.
108%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Garwood New Jersey National
Cost of living139125100
Groceries108108100
Health care111112100
Housing208157100
Transportation110114100
Utilities109111100
Lifestyle & Entertainment108113100
Household Items106107100
Education & Childcare118120100
Does this Area Fit Your Budget? Local Insights Report
  • Know the community before you call it home
  • Compare multiple areas side by side
  • Access over 300 data points for any address
Local Insights Report

Homes For Sale In Garwood, NJ

property for sale

431 Locust Ave

Garwood, NJ
property for sale

240 Beech Ave

Garwood, NJ
property for sale

350 Spruce Ave

Garwood, NJ
property for sale

451 Pine Ave

Garwood, NJ

Cost Of Living Quick Facts

  • The cost of living in Garwood is 11% higher than the New Jersey average
  • The cost of living in Garwood is 39% higher than the national average
  • Garwood housing is 108% 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 Garwood

See all the best places to live around Garwood

Compare Garwood, NJ Cost of Living

City Image
    City Default Image
      vs
      How would you rate the cost of living in Garwood?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Garwood?
      Write a review to give others more information about this area.
      See all Garwood poll results

      The best places in New Jersey

      Here are the best places to live in New JerseyMost Dangerous States In The USThese are the largest cities in New JerseyCheck out the 10 most dangerous cities in New Jersey
      Best Places in New Jersey

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$165,251$13,771$3,856$4,958
      Renters$128,767$10,731$3,004$3,863
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Garwood, NJ, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Garwood homeowners, is $165,251. This would allow for a maximum of $3,856 per month to be spent on housing costs. For renters, the median monthly income is $128,767 which would result in a maximum of $3,004 to be spent on rental costs.

      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%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Zarephath, NJ9811312.8%
      Keansburg, NJ10,05011414.1%
      East Orange, NJ66,65511515.1%
      Roselle, NJ22,32111615.7%
      Silver Lake CDP (Warren County), NJ32611717.3%
      Garwood, NJ4,42913939.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Littleton, NH4,4291000.1%
      Springville, NY4,429981.5%
      North Okanagan C, BC4,428n/a 
      Laurel, DE4,4301000.1%
      Grayson, GA4,43012221.6%
      Garwood, NJ4,42913939.2%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
      General
      For Professionals
      Follow Us
      AV on Twitter AV on Facebook
      © AreaVibes Inc. 2010-2026