An overview of the general cost of living index for Montvale, NJ is displayed above for your reference. Residents in Montvale, NJ enjoy a cost of living index of 181. This index is 45% higher than the New Jersey average, and 81% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Montvale, NJ, the average cost of goods and services is 33% higher than it is in New Jersey, and it is 49% higher than the national average.