Medford, NJ, has a higher cost of living compared to the nationwide average. The overall cost of living index in Medford stands at 108, which is 8% higher than the national average of 100. This increase is driven by higher housing costs, which are 20% above the national average, and transportation costs, which are 10% higher.
While other categories like groceries, utilities, healthcare, and miscellaneous expenses are slightly above the national average, they contribute less to the overall higher cost of living. Job seekers considering Medford should weigh these factors when planning their budgets.
Medford, New Jersey, has a higher cost of living compared to the nationwide average. The housing index in Medford stands at 120, which means housing costs are 20% higher than the national average. This increase can significantly impact the budget of those looking to rent or buy a home in the area.
Other expenses in Medford also tend to be higher. For example, groceries cost 5% more, with an index of 105. Utilities are slightly lower, at 95, which means they are 5% cheaper. Transportation costs are 10% higher, with an index of 110. Healthcare costs are 7% above the national average, at 107. Miscellaneous items, such as clothing and entertainment, are 2% higher, with an index of 102. These figures show that while some areas have lower costs, overall expenses in Medford are above the national average.
