| Index | Hackensack | New Jersey | National |
| Cost of living | 126 | 125 | 100 |
| Groceries | 106 | 108 | 100 |
| Health care | 112 | 112 | 100 |
| Housing | 163 | 157 | 100 |
| Transportation | 112 | 114 | 100 |
| Utilities | 113 | 111 | 100 |
| Lifestyle & Entertainment | 110 | 113 | 100 |
| Household Items | 104 | 107 | 100 |
| Education & Childcare | 121 | 120 | 100 |
Understanding the cost of living in Hackensack can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Hackensack cost of living index is 126, which is 26% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Hackensack is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Hackensack falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs significantly influence the Hackensack cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 63%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
When it comes to knowing a city, its residents are the experts. We conducted a survey with 6 locals to understand their opinions on the cost of living in Hackensack. The results indicated that 67% found it reasonably priced with decreasing prices of goods and services, while 33% viewed it as quite expensive, with increasing prices.
Wondering if Hackensack 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 Hackensack, for example, the median home price is 66.9% higher than what folks pay nationally, and monthly rent is 53.9% higher than the usual rates. Plus, income levels matter too, with Hackensack boasting a median household income of $107,851, which is 32.6% higher than the national average.
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Hackensack, healthcare costs are 12% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Hackensack, the baseline sales tax rate begins at 6.625%, and income tax rates start at 1.4%.
The cost of living data for Hackensack 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 | $153,063 | $12,755 | $3,571 | $4,592 |
| Renters | $83,784 | $6,982 | $1,955 | $2,514 |
| 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. |
| Greenville CDP (Greene County), NY | 616 | 106 | 6.1% |
| East Orange, NJ | 66,655 | 115 | 15.1% |
| Silver Lake CDP (Warren County), NJ | 326 | 117 | 17.3% |
| Newark, NJ | 290,764 | 120 | 19.8% |
| Paterson, NJ | 149,118 | 122 | 21.5% |
| Hackensack, NJ | 46,005 | 126 | 26.3% |
| City | Population | Cost of Living Index | National Avg. |
| Plainfield, IL | 45,974 | 124 | 24.1% |
| Quinte West, ON | 46,045 | n/a | |
| Farmington, NM | 46,071 | 99 | 1.5% |
| San Bruno, CA | 45,907 | 214 | 114.2% |
| Oakland Park, FL | 45,907 | 113 | 12.8% |
| Hackensack, NJ | 46,005 | 126 | 26.3% |
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