| Index | Waldwick | New Jersey | National |
| Cost of living | 147 | 125 | 100 |
| Groceries | 108 | 108 | 100 |
| Health care | 108 | 112 | 100 |
| Housing | 232 | 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 |
Knowing the cost of living in Waldwick 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 Waldwick stands at 147, marking it 47% higher than the national average.
If you're in pursuit of an economical living environment, Waldwick 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, Waldwick falls within this bracket.
Housing costs are a very significant part of the Waldwick cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 131.8% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Is Waldwick 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 Waldwick is 153.5% higher than the national average, while the average monthly rent prices are 81.2% higher than average. The affordability of any location can also be influenced by median income levels. Waldwick has a median household income of $188,198, which is 131.4% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Waldwick, the baseline sales tax rate begins at 6.625%, and income tax rates start at 1.4%.
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 Waldwick, is 131.8% higher than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Waldwick, the utilities index is 8.2% higher than the national average.
The Waldwick cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as 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 | $199,609 | $16,634 | $4,657 | $5,989 |
| Renters | $112,808 | $9,401 | $2,632 | $3,385 |
| 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. |
| Greenwood Lake, NY | 3,168 | 118 | 17.7% |
| Paterson, NJ | 149,118 | 122 | 21.5% |
| Mount Ivy, NY | 7,675 | 120 | 20.1% |
| Haverstraw, NY | 12,431 | 121 | 21.4% |
| West Haverstraw, NY | 10,539 | 121 | 21.4% |
| Waldwick, NJ | 10,422 | 147 | 46.7% |
| City | Population | Cost of Living Index | National Avg. |
| Sleepy Hollow, NY | 10,423 | 171 | 70.7% |
| Winterville, NC | 10,424 | 95 | 5.3% |
| Orange Cove, CA | 10,425 | 109 | 9.0% |
| Tipp City, OH | 10,425 | 94 | 6.3% |
| Warr Acres, OK | 10,425 | 87 | 12.8% |
| Waldwick, NJ | 10,422 | 147 | 46.7% |
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