Cost of Living in Mendham, NJ

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F
62%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
205%
Housing NAT. AVG.
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 Mendham New Jersey National
Cost of living162121100
Goods & Services100106100
Groceries102102100
Health care9999100
Housing305158100
Transportation95103100
Utilities102107100
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Cost Of Living Quick Facts

  • The cost of living in Mendham is 34% higher than the New Jersey average
  • The cost of living in Mendham is 62% higher than the national average
  • Mendham housing is 205% 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 Mendham

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Compare Mendham, 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$193,500$16,125$4,515$5,806
          Renters$57,826$4,819$1,349$1,735
          The affordability of the housing market in Mendham, 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 Mendham homeowners, the median income is $193,500. This indicates that a monthly maximum of $4,515 should be spent by homeowners on all housing related costs. Renters have a median income of $57,826. This indicates that renters would have a maximum of $1,349 for their rent related monthly costs.

          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 Mendham National avg. Difference
          Haircut $29.17$24.2620.2%
          Beauty Salon $40.36$45.5611.4%
          Toothpaste $3.66$3.701.2%
          Shampoo $1.44$1.2812.1%
          Movie $14.15$12.1316.6%
          Bowling $25.03$18.0039.0%

          Groceries

          Item Mendham National avg. Difference
          Ground Beef $5.64$5.843.5%
          Fried Chicken $1.55$1.571.4%
          Milk $4.74$4.671.5%
          Potatoes $5.21$4.935.7%
          Pizza $11.49$12.094.9%
          Beer $11.66$10.4112.0%

          Health Care

          Item Mendham National avg. Difference
          Optometrist $105.11$125.6816.4%
          Doctor $117.94$135.7813.1%
          Dentist $121.22$113.297.0%
          Ibuprofen $11.05$10.653.7%
          Lipitor $427.79$468.608.7%

          Housing

          Item Mendham National avg. Difference
          Home Price $679,500.00$184,700.00267.9%
          Avg. Mortgage Payment $3,303.56$2,346.6940.8%
          Apartment Rent $1,511.00$949.0059.2%

          Transportation

          Item Mendham National avg. Difference
          Gasoline $3.45$3.460.2%
          Tire Balancing $77.33$59.9229.1%

          Utilities

          Item Mendham National avg. Difference
          All Electricity $230.68$193.9918.9%
          Phone $186.61$192.252.9%
          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.
          Victory Gardens, NJ1,6041011.2%
          Upper Pohatcong, NJ1,7741033.1%
          Allamuchy, NJ1141065.8%
          Vienna, NJ1,0181076.8%
          Hopatcong, NJ14,22811211.7%
          Mendham, NJ4,88016261.6%

          Cities with similar population

          City Population Cost of Living Index National Avg.
          Michigan Center, MI4,8798712.6%
          Chisholm, MN4,8798812.4%
          Brookridge, FL4,8818613.5%
          Mayfair, CA4,8781055.5%
          Waynesboro, MS4,8827920.8%
          Mendham, NJ4,88016261.6%
          Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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