| Index | River Edge | New Jersey | National |
| Cost of living | 151 | 125 | 100 |
| Groceries | 106 | 108 | 100 |
| Health care | 112 | 112 | 100 |
| Housing | 246 | 157 | 100 |
| Transportation | 112 | 114 | 100 |
| Utilities | 113 | 111 | 100 |
| Lifestyle & Entertainment | 110 | 113 | 100 |
| Household Items | 104 | 107 | 100 |
| Education & Childcare | 121 | 120 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in River Edge? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in River Edge stands at 151, making it 51% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
The cost of living in River Edge is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, River Edge falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs are a major factor in the River Edge cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 146.5% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Is River Edge 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 River Edge is 181.2% higher than the national average, while the average monthly rent prices are 65.4% higher than average. The affordability of any location can also be influenced by median income levels. River Edge has a median household income of $191,541, which is 135.5% higher than the national average.
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in River Edge, is 146.5% higher than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In River Edge, the transportation index is 11.8% higher than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
The cost of living data for River Edge shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $256,762 | $21,397 | $5,991 | $7,704 |
| Renters | $113,184 | $9,432 | $2,641 | $3,396 |
| 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. |
| Greenville CDP (Greene County), NY | 616 | 106 | 6.1% |
| East Orange, NJ | 66,655 | 115 | 15.1% |
| Silver Lake CDP (Warren County), NJ | 326 | 117 | 17.3% |
| Newark, NJ | 290,764 | 120 | 19.8% |
| Paterson, NJ | 149,118 | 122 | 21.5% |
| River Edge, NJ | 11,771 | 151 | 51.3% |
| City | Population | Cost of Living Index | National Avg. |
| Cantley, QC | 11,767 | n/a | |
| Chino Valley, AZ | 11,776 | 111 | 10.7% |
| Fenton, MI | 11,776 | 95 | 5.3% |
| Emmaus, PA | 11,776 | 104 | 3.9% |
| Guymon, OK | 11,761 | 91 | 9.0% |
| River Edge, NJ | 11,771 | 151 | 51.3% |
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