F
49%
Overall NAT. AVG.
27%
Goods & Services NAT. AVG.
121%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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.
Index Cliffside Park New Jersey National
Cost of living149121100
Goods & Services127106100
Groceries113102100
Health care12199100
Housing221158100
Transportation115103100
Utilities102107100

An Overview of Cost of Living in Cliffside Park, NJ

Getting a feel for the cost of living in Cliffside Park is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Cliffside Park is 149, which is 49% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If you're in pursuit of an economical living environment, Cliffside Park 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, Cliffside Park falls within this bracket.

Housing costs significantly influence the Cliffside Park 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 121.3%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Cliffside Park goods and services are 26.8% more expensive than the national average, leaving you with less money at the end of the month.

The cost of groceries continues to rise at an alarming rate. Over the last two years, grocery prices have increased by more than 10%! Unfortunately, in Cliffside Park, the news isn't any better as grocery prices are 13.4% higher than the national average.

Is Cliffside Park Affordable?

Is Cliffside Park an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Cliffside Park, the median home price is 146% higher than what most folks pay across the country, and monthly rent prices are 63.5% higher than the usual rates. Income levels in Cliffside Park come in at $83,989, which is 51.8% higher than the national average.

What Factors can Influence the Cost of Living in Cliffside Park?

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Cliffside Park, the transportation index is 15.2% higher than the national average.

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 Cliffside Park, healthcare costs are 20.6% higher than the national average.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Where is the Data From?

The Cliffside Park cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Cliffside Park is 24% higher than the New Jersey average
  • The cost of living in Cliffside Park is 49% higher than the national average
  • Cliffside Park housing is 121% 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

Most Affordable Places to Live in and Around Cliffside Park

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Compare Cliffside Park, NJ Cost of Living

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      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 Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$121,750$10,146$2,841$3,653
      Renters$52,759$4,397$1,231$1,583
      To approximate the cost of living and the housing affordability in Cliffside Park, NJ, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Cliffside Park have a median income of $121,750. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,841 per month to avoid calamity and poverty. The renters in the city have an income of about $52,759, which would make their monthly maximum allowable rental costs $1,231.

      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%

      Goods & Services

      Item Cliffside Park National avg. Difference
      Haircut $34.94$24.2644.0%
      Beauty Salon $64.07$45.5640.6%
      Toothpaste $3.96$3.707.0%
      Shampoo $1.69$1.2832.3%
      Movie $13.68$12.1312.8%
      Bowling $29.40$18.0063.3%

      Groceries

      Item Cliffside Park National avg. Difference
      Ground Beef $5.87$5.840.6%
      Fried Chicken $1.46$1.576.9%
      Milk $4.97$4.676.3%
      Potatoes $5.21$4.935.7%
      Pizza $12.57$12.094.0%
      Beer $11.87$10.4114.0%

      Health Care

      Item Cliffside Park National avg. Difference
      Optometrist $128.97$125.682.6%
      Doctor $162.24$135.7819.5%
      Dentist $149.64$113.2932.1%
      Ibuprofen $11.15$10.654.6%
      Lipitor $402.75$468.6014.1%

      Housing

      Item Cliffside Park National avg. Difference
      Home Price $454,400.00$184,700.00146.0%
      Avg. Mortgage Payment $6,916.73$2,346.69194.7%
      Apartment Rent $1,552.00$949.0063.5%

      Transportation

      Item Cliffside Park National avg. Difference
      Gasoline $3.55$3.462.5%
      Tire Balancing $86.43$59.9244.2%

      Utilities

      Item Cliffside Park National avg. Difference
      All Electricity $201.27$193.993.8%
      Phone $200.67$192.254.4%
      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 Population Cost of Living Index National Avg.
      Greenville CDP (Greene County), NY6041066.1%
      East Orange, NJ64,65011111.1%
      Roselle, NJ21,69911212.0%
      Silver Lake CDP (Warren County), NJ32011313.2%
      Newark, NJ281,91711414.0%
      Cliffside Park, NJ25,41014949.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Melrose Park, IL25,4041065.5%
      Carbondale, IL25,4008613.6%
      Woodstock, IL25,391954.6%
      Tarpon Springs, FL25,3891022.3%
      Thetford Mines, QC25,383n/a 
      Cliffside Park, NJ25,41014949.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.