Pennington, NJ, has a higher cost of living index compared to the nationwide average. The overall cost of living in Pennington is 114, indicating that residents pay 14% more than the national average. Among various categories, housing costs the most, at 41% above the national average, while groceries and utilities remain relatively close to the national average.
Considering these factors, potential job seekers in Pennington should be aware of the increased expenses, especially in housing. Understanding these details can help them make informed decisions about relocating or budgeting.
Pennington, New Jersey, shows a cost of living index above the nationwide average in several key areas. Housing costs in Pennington stand at 141, which is 41% higher than the national average of 100. This suggests that housing expenses, such as rent or mortgage payments, are significantly greater here. Groceries cost 108, an 8% increase over the average, meaning food and household supplies are a bit more expensive. Utilities, however, are slightly below average at 103, only a 3% increase, offering some relief.
Transportation costs in Pennington are at 109, which is 9% higher than the national average. This reflects slightly elevated prices for car maintenance, fuel, and public transport. Healthcare costs are also higher, with an index of 112, marking an increase of 12%. This indicates that medical services and health insurance may cost more here. Miscellaneous expenses, however, are close to the average at 102, showing a mere 2% increase. Overall, Pennington's higher housing and healthcare costs are notable, but other areas remain relatively close to the national norm.
