Cost of Living in Mountain Lakes, NJ

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F
91%
Overall NAT. AVG.
10%
Groceries NAT. AVG.
270%
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 Mountain Lakes New Jersey National
Cost of living191125100
Groceries110108100
Health care112112100
Housing370157100
Transportation120114100
Utilities112111100
Lifestyle & Entertainment112113100
Household Items110107100
Education & Childcare128120100
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Homes For Sale In Mountain Lakes, NJ

property for sale

430 Morris Ave

Mountain Lakes, NJ
property for sale

41 Lakewood Dr

Mountain Lakes, NJ
property for sale

7 Fernwood Trl

Mountain Lakes, NJ
property for sale

181 Boulevard

Mountain Lakes, NJ

Cost Of Living Quick Facts

  • The cost of living in Mountain Lakes is 53% higher than the New Jersey average
  • The cost of living in Mountain Lakes is 91% higher than the national average
  • Mountain Lakes housing is 270% 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 Mountain Lakes

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      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
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$362,520$30,210$8,458$10,877
      Renters$0$0$0$0
      A good way to judge both the affordability of the housing and the cost of living in Mountain Lakes is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Mountain Lakes has a median income of about $362,520 for people who own homes. Based on that number, a maximum of $8,458 should be spent on expenses related to housing. Renters have a slightly different median income, which is $0. Based on this average, renters should spend no more than $0 on all rental costs if they want to maintain a non-impoverished standard of living.

      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.
      Victory Gardens, NJ1,6541087.7%
      East Orange, NJ66,65511515.1%
      Silver Lake CDP (Warren County), NJ32611717.3%
      Newark, NJ290,76412019.8%
      Ogdensburg, NJ2,23512121.2%
      Mountain Lakes, NJ4,39819191.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Spring Valley Village, TX4,39819796.9%
      Pantops, VA4,39612727.2%
      Chinle, AZ4,4007723.3%
      Magnolia, NJ4,4001066.1%
      Plymouth, NH4,3951033.2%
      Mountain Lakes, NJ4,39819191.1%
      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.
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