New Providence, NJ, has a higher cost of living compared to the nationwide average. The overall cost of living index in New Providence stands at 122, which is 22% above the national average of 100. This increase is driven by higher housing costs, which are 40% higher than the national average, and groceries, which are 20% more expensive. Utilities, transportation, healthcare, and miscellaneous expenses also contribute to the elevated cost of living in New Providence.
The cost of living in New Providence, NJ, is notably higher than the nationwide average, which is set at 100. Housing costs in New Providence stand at 140, indicating that residents pay 40% more than the average American. This significant increase in housing expenses can greatly impact overall living costs, making it a critical factor for job seekers to consider.
Other expenses also reflect higher costs in New Providence. Groceries cost 120, which is 20% above the national average. Utilities are at 110, meaning they are 10% more expensive. Transportation costs are slightly higher at 105, which is 5% more than average. Healthcare costs are at 115, showing a 15% increase. Miscellaneous expenses are at 130, which is 30% higher than the national average. These figures highlight the elevated cost of living in New Providence, NJ, compared to the rest of the country.
