| Index | Harrison | New Jersey | National |
| Cost of living | 135 | 125 | 100 |
| Groceries | 108 | 108 | 100 |
| Health care | 110 | 112 | 100 |
| Housing | 184 | 157 | 100 |
| Transportation | 119 | 114 | 100 |
| Utilities | 111 | 111 | 100 |
| Lifestyle & Entertainment | 115 | 113 | 100 |
| Household Items | 107 | 107 | 100 |
| Education & Childcare | 129 | 120 | 100 |
Understanding the cost of living in Harrison 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 Harrison cost of living index is 135, which is 35% 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.
If you're in pursuit of an economical living environment, Harrison 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, Harrison falls within this bracket.
When it comes to the cost of living in Harrison, 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 84% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Harrison an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Harrison is 91.2% higher than the national average, while the average monthly rent prices are 67.2% higher than average. The affordability of any location can also be influenced by median income levels. Harrison has a median household income of $101,214, which is 24.4% higher than the national average.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Harrison, the general sales tax rate starts at 6.625%, and income tax rates begin at 1.4%.
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 Harrison, the housing index is 84% higher than the national average.
The cost of living data for Harrison 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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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $133,824 | $11,152 | $3,122 | $4,015 |
| Renters | $89,851 | $7,488 | $2,096 | $2,696 |
| 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. |
| East Orange, NJ | 66,655 | 115 | 15.1% |
| Roselle, NJ | 22,321 | 116 | 15.7% |
| Silver Lake CDP (Warren County), NJ | 326 | 117 | 17.3% |
| Newark, NJ | 290,764 | 120 | 19.8% |
| Paterson, NJ | 149,118 | 122 | 21.5% |
| Harrison, NJ | 18,732 | 135 | 34.6% |
| City | Population | Cost of Living Index | National Avg. |
| Sudley, VA | 18,730 | 123 | 22.7% |
| Schofield Barracks, HI | 18,724 | 175 | 75.1% |
| St. Marys, GA | 18,720 | 108 | 7.8% |
| North Aurora, IL | 18,754 | 113 | 13.0% |
| Burlington, KY | 18,755 | 96 | 3.6% |
| Harrison, NJ | 18,732 | 135 | 34.6% |
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