| Index | Pompton Lakes | New Jersey | National |
| Cost of living | 131 | 125 | 100 |
| Groceries | 110 | 108 | 100 |
| Health care | 112 | 112 | 100 |
| Housing | 169 | 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 |
Knowing the cost of living in Pompton Lakes allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Pompton Lakes stands at 131, marking it 31% higher than the national average.
If you prioritize affordability when seeking a new place to live, Pompton Lakes may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Pompton Lakes falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs are a very significant part of the Pompton Lakes cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 69.2% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
The cost of groceries continues to rise at an alarming rate. Over the last two years, grocery prices have increased by more than 10%! Unfortunately, in Pompton Lakes, the news isn't any better as grocery prices are 10.3% higher than the national average.
Is Pompton Lakes affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Pompton Lakes, for instance, where the median home price falls 75.7% higher than the national average, and monthly rent rates are 54% higher than usual. Additionally, median income levels contribute to the equation, with Pompton Lakes flaunting a median household income of $146,552, 80.2% higher than the national norm.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Pompton Lakes, the transportation index is 20% higher than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Pompton Lakes, the groceries index is 10.3% higher than the national average.
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
The Pompton Lakes cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| 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 | $176,896 | $14,741 | $4,127 | $5,307 |
| Renters | $134,194 | $11,183 | $3,131 | $4,026 |
| 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% |
| Victory Gardens, NJ | 1,654 | 108 | 7.7% |
| Hamburg, NJ | 3,231 | 116 | 15.6% |
| Highland Lakes, NJ | 4,801 | 118 | 18.2% |
| Paterson, NJ | 149,118 | 122 | 21.5% |
| Pompton Lakes, NJ | 11,276 | 131 | 30.9% |
| City | Population | Cost of Living Index | National Avg. |
| Munhall, PA | 11,275 | 88 | 12.4% |
| Poulsbo, WA | 11,279 | 135 | 35.1% |
| Blackfalds, AB | 11,272 | n/a | |
| Kings Mountain, NC | 11,271 | 92 | 8.3% |
| Asbury Lake, FL | 11,267 | 112 | 12.4% |
| Pompton Lakes, NJ | 11,276 | 131 | 30.9% |
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