| Index | Ridgewood | New Jersey | National |
| Cost of living | 181 | 125 | 100 |
| Groceries | 108 | 108 | 100 |
| Health care | 108 | 112 | 100 |
| Housing | 346 | 157 | 100 |
| Transportation | 110 | 114 | 100 |
| Utilities | 108 | 111 | 100 |
| Lifestyle & Entertainment | 114 | 113 | 100 |
| Household Items | 108 | 107 | 100 |
| Education & Childcare | 120 | 120 | 100 |
The cost of living in Ridgewood 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 Ridgewood is 181, which is 81% 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're in pursuit of an economical living environment, Ridgewood may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Ridgewood falls within this bracket.
Housing costs make up a big chunk of the cost of living in Ridgewood, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 245.8% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Wondering if Ridgewood is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Ridgewood, for example, the median home price is 301.8% higher than what folks pay nationally, and monthly rent is 115.1% higher than the usual rates. Plus, income levels matter too, with Ridgewood boasting a median household income of $266,584, which is 227.8% higher than the national average.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Ridgewood, the transportation index is 9.5% higher than the national average.
Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Ridgewood, healthcare costs are 8.1% higher than the national average.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Ridgewood, the prevailing sales tax rate starts at 6.625%, and income tax rates kick off at 1.4%.
The Ridgewood 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 | $316,179 | $26,348 | $7,377 | $9,486 |
| Renters | $144,927 | $12,077 | $3,381 | $4,348 |
| 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. |
| East Orange, NJ | 66,655 | 115 | 15.1% |
| Silver Lake CDP (Warren County), NJ | 326 | 117 | 17.3% |
| Paterson, NJ | 149,118 | 122 | 21.5% |
| Mount Ivy, NY | 7,675 | 120 | 20.1% |
| Haverstraw, NY | 12,431 | 121 | 21.4% |
| Ridgewood, NJ | 25,810 | 181 | 80.9% |
| City | Population | Cost of Living Index | National Avg. |
| Cave Spring, VA | 25,814 | 107 | 7.3% |
| Clinton, IA | 25,804 | 85 | 14.6% |
| De Pere, WI | 25,789 | 99 | 1.5% |
| Belvidere, IL | 25,831 | 89 | 10.7% |
| Edwardsville, IL | 25,839 | 106 | 6.1% |
| Ridgewood, NJ | 25,810 | 181 | 80.9% |
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