| Index | Short Hills | New Jersey | National |
| Cost of living | 262 | 125 | 100 |
| Groceries | 108 | 108 | 100 |
| Health care | 111 | 112 | 100 |
| Housing | 618 | 157 | 100 |
| Transportation | 110 | 114 | 100 |
| Utilities | 109 | 111 | 100 |
| Lifestyle & Entertainment | 108 | 113 | 100 |
| Household Items | 106 | 107 | 100 |
| Education & Childcare | 118 | 120 | 100 |
Getting a feel for the cost of living in Short Hills is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Short Hills is 262, which is 162% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Short Hills is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Short Hills falls into this category, which may not align with your goal of finding a budget-friendly living environment.
When it comes to the cost of living in Short Hills, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 518.5% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Short Hills 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 Short Hills is 651.6% higher than the national average, while the average monthly rent prices are 207.8% higher than average. The affordability of any location can also be influenced by median income levels. Short Hills has a median household income of $375,147, which is 361.2% higher than the national average.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Short Hills, the housing index comes in at 518.5% 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 Short Hills, the transportation index is 9.7% 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 Short Hills, the prevailing sales tax rate starts at 6.625%, and income tax rates kick off at 1.4%.
The cost of living data for Short Hills 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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| Groceries index | |
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $367,238 | $30,603 | $8,568 | $11,018 |
| Renters | $233,129 | $19,427 | $5,439 | $6,995 |
| 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. |
| Zarephath, NJ | 98 | 113 | 12.8% |
| Victory Gardens, NJ | 1,654 | 108 | 7.7% |
| East Orange, NJ | 66,655 | 115 | 15.1% |
| Roselle, NJ | 22,321 | 116 | 15.7% |
| Silver Lake CDP (Warren County), NJ | 326 | 117 | 17.3% |
| Short Hills, NJ | 14,190 | 262 | 162.3% |
| City | Population | Cost of Living Index | National Avg. |
| Jefferson Valley-Yorktown, NY | 14,192 | 143 | 42.5% |
| Alexandria, MN | 14,194 | 98 | 1.8% |
| Brandermill, VA | 14,184 | 116 | 16.5% |
| Lebanon, NH | 14,197 | 115 | 15.0% |
| D'Iberville, MS | 14,203 | 95 | 5.2% |
| Short Hills, NJ | 14,190 | 262 | 162.3% |
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