Medford, NJ, stands out with a higher cost of living index compared to the nationwide average. Specifically, the overall cost of living in Medford is approximately 104% of the national average, reflecting slightly elevated expenses across various categories. Housing leads with a 20% increase, making it the most significant contributor to Medford's elevated cost of living.
Medford, NJ, has a higher cost of living index compared to the nationwide average, making it essential for job seekers to consider this factor when planning their move. Housing costs in Medford stand at 120, indicating that housing expenses are 20% higher than the national average. This significant increase suggests that prospective residents may need to budget more for rent or mortgage payments.
Additionally, while Medford's groceries index is slightly above the average at 105, it remains manageable at a 5% increase. Utilities in Medford are 5% below the national average, with an index of 95, offering some relief to residents. Transportation costs are also lower, with an index of 90, meaning they are 10% cheaper than the national average. Healthcare costs in Medford are 10% higher, with an index of 110. Miscellaneous costs align with the national average, sitting at 100. Altogether, these factors provide a detailed picture of what potential residents can expect in terms of living expenses in Medford.
