| Index | Oakland | New Jersey | National |
| Cost of living | 150 | 125 | 100 |
| Groceries | 110 | 108 | 100 |
| Health care | 112 | 112 | 100 |
| Housing | 233 | 157 | 100 |
| Transportation | 120 | 114 | 100 |
| Utilities | 112 | 111 | 100 |
| Lifestyle & Entertainment | 112 | 113 | 100 |
| Household Items | 110 | 107 | 100 |
| Education & Childcare | 128 | 120 | 100 |
The cost of living in Oakland affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Oakland is 150, which is 50% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
If you value affordability in your search for a new place to live, Oakland may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Oakland falls into this category, which may not align with your desire for an affordable place to call home.
Housing costs significantly influence the Oakland 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 133.2%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Oakland is even less favorable, with grocery prices here being 10.3% higher than the national average.
Is Oakland 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 Oakland is 159.9% higher than the national average, while the average monthly rent prices are 70.7% higher than average. The affordability of any location can also be influenced by median income levels. Oakland has a median household income of $206,516, which is 153.9% higher than the national average.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Oakland, healthcare costs are 11.9% higher than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Oakland, the groceries index is 10.3% higher than the national average.
The cost of living estimates displayed for Oakland are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $220,225 | $18,352 | $5,138 | $6,607 |
| Renters | $65,358 | $5,447 | $1,525 | $1,961 |
| 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. |
| Vernon Center, NJ | 1,518 | 103 | 3.2% |
| Greenwood Lake, NY | 3,168 | 118 | 17.7% |
| Highland Lakes, NJ | 4,801 | 118 | 18.2% |
| Paterson, NJ | 149,118 | 122 | 21.5% |
| Vernon Valley, NJ | 1,214 | 119 | 19.0% |
| Oakland, NJ | 13,303 | 150 | 50.1% |
| City | Population | Cost of Living Index | National Avg. |
| Suamico, WI | 13,303 | 110 | 10.1% |
| Cedar Lake, IN | 13,302 | 97 | 2.7% |
| West Carrollton, OH | 13,301 | 87 | 13.1% |
| Saint-Amable, QC | 13,300 | n/a | |
| Claremont, NH | 13,298 | 97 | 2.8% |
| Oakland, NJ | 13,303 | 150 | 50.1% |
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