Here we can see a simple outline of the cost of living in Oakland, NJ. As you can see, with the average cost of living in Oakland, NJ being 142, that puts it 13% higher than the average of New Jersey and 42% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Oakland, NJ, the price of goods and services are 1% higher than the average of New Jersey as well as 13% higher than the nation's average.