Cost Of Living in Silver Lake, NJ

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F

26%

Overall NAT. AVG.

9%

Groceries NAT. AVG.

60%

Housing NAT. AVG.

Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.

The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index	Silver Lake	New Jersey	National
Cost of living	126	125	100
Groceries	109	108	100
Health care	112	112	100
Housing	160	157	100
Transportation	114	114	100
Utilities	110	111	100
Lifestyle & Entertainment	115	113	100
Household Items	108	107	100
Education & Childcare	118	120	100

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Homes For Sale In Silver Lake, NJ

155 Silver Lake Rd

Bridgeton, NJ

1 Johns Way

Bridgeton, NJ

Cost Of Living Quick Facts

The cost of living in Silver Lake is 1% higher than the New Jersey average
The cost of living in Silver Lake is 26% higher than the national average
Silver Lake housing is 60% higher than the national average
New Jersey general sales tax is 30% higher than the national average
New Jersey state income tax is 46% lower than the national average

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Price difference in compared to

Cost of living index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Lifestyle index
Household index
Educare index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$102,396	$8,533	$2,389	$3,072
Renters	$60,415	$5,035	$1,410	$1,813

A good indicator of the general affordability of housing in Silver Lake, NJ, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Silver Lake, the median monthly income is $102,396 for those who own their own homes. Under the standard rule, that income level would allow for $2,389 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $60,415, per the median income in the area. That would allow for renters to spend up to $1,410 on monthly rental expenses.

New Jersey Sales Tax

State	General Sales Tax	With Max Surtax
New Jersey	6.625%	12.625%

New Jersey Income Tax

State	Income Tax (Low)	Income Tax (High)
New Jersey	1.4%	10.75%

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
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%
Newark, NJ	290,764	120	19.8%
Paterson, NJ	149,118	122	21.5%
Silver Lake, NJ	4,069	126	26.4%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Rossville, GA	4,069	83	16.7%
Baie-D'Urfé, QC	4,068	n/a
Melwood, MD	4,070	127	27.5%
Presidio, TX	4,070	79	21.3%
Williamston, MI	4,067	96	3.7%
Silver Lake, NJ	4,069	126	26.4%