| Index | Upper Montclair | New Jersey | National |
| Cost of living | 184 | 125 | 100 |
| Groceries | 109 | 108 | 100 |
| Health care | 115 | 112 | 100 |
| Housing | 351 | 157 | 100 |
| Transportation | 113 | 114 | 100 |
| Utilities | 112 | 111 | 100 |
| Lifestyle & Entertainment | 113 | 113 | 100 |
| Household Items | 106 | 107 | 100 |
| Education & Childcare | 126 | 120 | 100 |
Knowing the cost of living in Upper Montclair 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 Upper Montclair stands at 184, marking it 84% higher than the national average.
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 Upper Montclair 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, Upper Montclair falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs significantly influence the Upper Montclair cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 251.1%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Is Upper Montclair 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 Upper Montclair, for instance, where the median home price falls 305% higher than the national average, and monthly rent rates are 125.2% higher than usual. Additionally, median income levels contribute to the equation, with Upper Montclair flaunting a median household income of $313,735, 285.7% higher than the national norm.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Upper Montclair, the transportation index stands at 13% higher than the national average.
Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Upper Montclair, healthcare costs are 15.2% higher than the national average.
The cost of living estimates displayed for Upper Montclair are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| 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 | $350,544 | $29,212 | $8,179 | $10,517 |
| Renters | $127,814 | $10,651 | $2,982 | $3,835 |
| 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% |
| 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% |
| Upper Montclair, NJ | 11,734 | 184 | 84.3% |
| City | Population | Cost of Living Index | National Avg. |
| Piedmont, CA | 11,734 | 351 | 251.3% |
| Mendota Heights, MN | 11,733 | 124 | 24.5% |
| Pontiac, IL | 11,732 | 88 | 12.5% |
| Gardnerville Ranchos, NV | 11,732 | 123 | 23.0% |
| Hamilton, ON | 11,739 | n/a | |
| Upper Montclair, NJ | 11,734 | 184 | 84.3% |
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