F
Overall 32%
Goods & Services 14%
Housing 84%
Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
IndexWoodland ParkNew JerseyNational
Cost of living132123100
Goods & Services114111100
Groceries108110100
Health care107102100
Housing184158100
Transportation111110100
Utilities105100100

Key findings

  • The cost of living in Woodland Park is 7% higher than the New Jersey average
  • The cost of living in Woodland Park is 32% higher than the national average
  • Woodland Park housing is 84% higher than the national average
  • New Jersey general sales tax is 30% higher than the national average
  • New Jersey state income tax is 43% lower than the national average

Most Affordable Places to Live in and Around Woodland Park

See all the best places to live around Woodland Park

Compare Woodland Park, NJ Cost of Living

      vs
      How would you rate the cost of living in Woodland Park?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Woodland Park?
      Write a review to give others more information about this area.
      See all Woodland Park poll results

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$96,350$8,029$2,248$2,891
      Renters$50,360$4,197$1,175$1,511
      The affordability of the housing market in Woodland Park, NJ as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Woodland Park homeowners, the median income is $96,350. This indicates that a monthly maximum of $2,248 should be spent by homeowners on all housing related costs. Renters have a median income of $50,360. This indicates that renters would have a maximum of $1,175 for their rent related monthly costs.

      New Jersey Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      New Jersey6.625%12.625%

      New Jersey Income Tax

      StateIncome Tax (Low)Income Tax (High)
      New Jersey1.4%10.75%

      Goods & Services

      ItemWoodland ParkNational avg.Difference
      Haircut $24.00$17.4937.2%
      Beauty Salon $39.00$38.172.2%
      Toothpaste $2.01$2.3213.4%
      Shampoo $1.09$1.017.7%
      Movie $12.14$10.7213.2%
      Bowling $18.40$13.8632.7%

      Groceries

      ItemWoodland ParkNational avg.Difference
      Ground Beef $3.85$3.901.3%
      Fried Chicken $1.66$1.4018.9%
      Milk $2.21$1.9612.6%
      Potatoes $3.39$3.186.5%
      Pizza $11.99$10.3915.4%
      Beer $8.99$9.232.6%

      Health Care

      ItemWoodland ParkNational avg.Difference
      Optometrist $113.00$106.346.3%
      Doctor $96.67$115.2516.1%
      Dentist $121.00$98.3823.0%
      Ibuprofen $8.95$9.263.4%
      Lipitor $537.05$466.4715.1%

      Housing

      ItemWoodland ParkNational avg.Difference
      Home Price $371,000.00$184,700.00100.9%
      Avg. Mortgage Payment $2,311.62$1,273.3281.5%
      Apartment Rent $1,362.00$949.0043.5%

      Transportation

      ItemWoodland ParkNational avg.Difference
      Gasoline $2.77$2.597.0%
      Tire Balancing $59.00$48.9020.7%

      Utilities

      ItemWoodland ParkNational avg.Difference
      All Electricity$184.45$167.6010.1%
      Phone $177.03$163.428.3%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City, StatePopulationCost of Living IndexNational Avg.
      East Orange, NJ64,62111111%
      Newark, NJ280,13911212%
      Silver Lake, NJ4,00711414%
      Paterson, NJ146,89411515%
      Silver Lake CDP (Warren County), NJ32011717%
      Woodland Park, NJ12,35813232%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Beatrice, NE12,35886-14%
      Mount Sinai, NY12,36215454%
      Glenpool, OK12,35189-11%
      Plover, WI12,35094-6%
      Cleveland, MS12,34679-21%
      Woodland Park, NJ12,35813232%
      Source: The Woodland Park, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.