Cost of Living in New Jersey in 2025

New Jersey Cost of Living: Quick Takeaways

• Housing Costs: Average rent for a one-bedroom apartment in New Jersey reached about $2,016 in 2025.
• Transportation Expenses: Public transit monthly passes cost around $100, with fuel prices averaging $3.21 per gallon.
• Healthcare Costs: Employer-sponsored health insurance premiums are approximately $150 monthly, while silver plan coverage averages $500 monthly.
• Income Levels: Median household income is expected to hit $101,050 in 2025.

New Jersey's cost of living reflects its dense population and proximity to major metropolitan areas. This overview breaks down key cost components to help residents and prospective movers plan financially.

We provide insights into housing, transportation, utilities, food healthcare and more to give a clearer picture of living expenses in New Jersey in 2025.

1. Housing Costs in New Jersey

Housing is one of the biggest expenses residents face in New Jersey. Here's a look at the average rent for a one-bedroom apartment over the years:

• 2010: Approximately $1,200
• 2015: Around $1,400
• 2020: Approximately $1,600
• 2024: Reached $2,000
• 2025: Estimated at $2,016

These numbers indicate a steady rise in rental prices, highlighting the increasing demand and limited supply in the state’s housing market.

For those exploring hospitality real estate opportunities in New Jersey, understanding general market trends is crucial. Check out the hospitality real estate market trends to align your strategies effectively.

2. Homeownership and Real Estate Trends in New Jersey

For those interested in purchasing property, median home prices have also escalated:

• 2010: Median home price was approximately $300,000
• 2015: Increased to around $350,000
• 2020: Approximately $400,000
• 2024: Rose significantly to $540,000
• 2025: Expected to reach $564,794

This trend underscores New Jersey's competitive real estate market and its appeal for homeowners and investors alike.

3. Transportation Expenses in New Jersey

Transportation costs are an important consideration for New Jersey residents. Key figures include:

• Public Transit: One-way fare averages $2.75 with monthly passes costing about $100.
• Fuel Costs: Gasoline prices average $3.21 per gallon as of 2025.
• Vehicle Maintenance: Annual maintenance expenses average $1,200.

These costs fluctuate based on commuting habits and regional differences within the state.

4. Utility Costs in New Jersey

Monthly utility bills for a standard household include:

• Electricity: Around $114.87
• Internet Services: Approximately $60.00
• Total Utilities: Roughly $174.87 monthly

Utility costs are influenced by seasonal usage and provider rates but remain relatively moderate compared to housing expenses.

5. Grocery and Food Expenses in New Jersey

Grocery expenses per person amount to about $379.92 monthly on average.

Dining out options vary, with casual meals typically costing around $15 and mid-range restaurant meals averaging $50.

For restaurant owners and managers in New Jersey, understanding hiring and staffing challenges is key to maintaining profitability amid these costs. Learn more about common pain points of restaurant owners to strategize better.

6. Healthcare Costs in New Jersey

Healthcare expenses include insurance premiums and out-of-pocket costs:

• Employer-Sponsored Health Insurance: Approximately $150 monthly
• Silver Plan Health Insurance: Roughly $500 monthly

These figures reflect typical expenditures but can vary widely depending on individual circumstances and coverage.

7. Educational Expenses in New Jersey

New Jersey offers a variety of educational options:

• Public Schools: Funded through taxes with no tuition fees
• Private Schools: Average tuition around $15,000 per year
• In-State University Tuition: Approximately $14,000 annually at public institutions

Costs vary based on specific schools and programs chosen by families and students.

8. Entertainment and Leisure in New Jersey

Leisure expenses include:

• Movie Tickets: Average price of $12 each
• Gym Memberships: Approximately $50 monthly
• Dining Out: Mid-range restaurant meals cost around $50

The annual spending on entertainment is estimated at around $2,400, with personal care services accounting for about $900.

9. Taxes and Miscellaneous Fees in New Jersey

New Jersey residents encounter several taxes:

• State Income Tax: Ranges from 1.4% to 10.75%
• Sales Tax: Fixed at 6.625%
• Property Tax: Averaging 2.23%

These tax rates affect overall affordability and should be factored into budgeting.

10. Childcare and Family Expenses in New Jersey

Family-related costs include:

• Daycare Services: Averaging $1,200 per month
• After-School Programs: Roughly $500 monthly
• Extracurricular Activities: Around $200 monthly

These expenses reflect the financial commitment families must consider when planning their budgets.

11. Clothing and Personal Care in New Jersey

Monthly spending on personal necessities includes:

• Clothing: Approximately $100
• Personal Care Products and Services: About $75

These figures can fluctuate based on lifestyle and personal choices.

12. Insurance Costs in New Jersey

Insurance policies contribute considerably to expenses:

• Health Insurance: Average monthly premium for a Silver plan is $500
• Auto Insurance: Annual premium roughly $1,901
• Homeowners Insurance: Averages $1,200 annually
• Renters Insurance: Around $180 annually

Insurance costs vary by coverage, location, and individual risk factors.

Restaurant owners should also consider liability and operational insurances. Discover more about restaurant insurance costs to protect your investment adequately.

13. Miscellaneous Expenses in New Jersey

Other living costs include:

• Entertainment: Roughly $2,400 annually
• Personal Care Services: Around $900 annually
• Miscellaneous Goods and Services: Estimated $1,000 annually

These contribute to overall quality of life and personal budget considerations.

14. Income and Salaries in New Jersey

Median household incomes have risen steadily over time:

• 2010: Approximately $65,000
• 2015: Around $70,000
• 2020: About $75,000
• 2023: Reached $85,751
• 2025: Projected to be $101,050

This upward trend reflects economic growth and the increasing cost of living.

Understanding typical earnings in hospitality can guide staffing and wage offers. For example, if you're looking to hire bartenders or understand their compensation, see the bartender salary guide and interview insights on bartender interview questions.

15. Comparison with National Averages

New Jersey’s cost of living compared to U.S. averages reveals:

• Overall: Approximately 15% higher
• Housing: Roughly 36% above national average
• Utilities: About 2% higher
• Food: Around 6% above average
• Healthcare: Approximately 9% higher
• Transportation: Roughly 6% above national average
• Goods and Services: About 7% higher

These comparisons highlight New Jersey as a relatively expensive state to live in, especially in terms of housing costs.

To better manage operational expenses, hospitality businesses might explore restaurant revenue statistics and restaurant sales growth insights to optimize profitability despite higher costs.

Our Methodology for New Jersey Cost of Living Figures

We compile data from reputable sources including government agencies, real estate platforms, transportation services, and health insurance providers. When exact information is unavailable, reasonable estimates are applied to maintain accuracy and relevance.

New Jersey Cost of Living: Conclusion

In 2025, New Jersey presents a high but varied cost of living landscape with particularly elevated housing and healthcare expenses.

While incomes generally keep pace with rising costs, prospective residents should carefully consider housing, taxes, and transportation when budgeting for life in the Garden State.

Staying informed about these factors helps individuals and families make wiser financial decisions and better navigate the economic realities of living in New Jersey.