Pennington, NJ, shows a higher cost of living compared to the nationwide average, with an overall index of 109. This means that living expenses in Pennington are about 9% higher than the average U.S. cost of living. Housing costs stand out, with an index of 115, indicating a 15% increase above the national average.
Pennington, New Jersey, shows a cost of living index that is notably higher than the nationwide average. The housing index stands at 115, indicating that housing costs are 15% higher than the national average. This increase can significantly impact the budget of those considering a move to Pennington, as housing is a major expense.
Other areas also reflect higher costs. Groceries in Pennington have a cost of living index of 105, which means they are 5% more expensive than the national average. Utilities follow closely with an index of 110, showing a 10% increase. While transportation costs are slightly lower, with an index of 95, meaning they are 5% cheaper, the overall picture shows that living in Pennington involves higher expenses in key areas. Healthcare costs are particularly high, with an index of 120, indicating a 20% increase over the national average. Miscellaneous costs also reflect a higher index of 108, which is 8% above the national average.
