Millburn, NJ, features a cost of living that exceeds the nationwide average in several key areas. The housing index stands at 151, indicating housing costs are 51% higher than the national average. Additionally, groceries, utilities, transportation, healthcare, and miscellaneous costs are also above average, ranging from 8% to 30% higher. Prospective residents should consider these elevated costs when planning their budgets.
Millburn, NJ, presents a higher cost of living compared to the nationwide average, which is set at 100. The cost of housing in Millburn is notably higher, with an index of 151. This means that housing costs in Millburn are 51% higher than the national average. Such a significant increase can greatly impact potential residents, as housing is often one of the largest expenses in a household budget.
When considering other expenses, Millburn also shows elevated costs in various categories. For example, groceries have an index of 118, meaning they are 18% more expensive than the national average. Utilities, which include electricity, gas, water, and internet, have an index of 106, which is 6% above average. Transportation costs are also higher, with an index of 113, indicating a 13% increase. While healthcare and miscellaneous costs, at 110 and 120 respectively, show smaller increases of 10% and 20%, they still contribute to the overall higher cost of living in Millburn. These increases highlight the importance of considering all aspects of living expenses when evaluating a move to this area.
