Pennington, NJ, has a higher cost of living compared to the nationwide average. The cost of living index in Pennington stands at 125, which is 25% higher than the national average of 100. This increase is noticeable in areas like housing, utilities, and healthcare, where the index values are significantly above the average.
Pennington's housing index of 140 shows a 40% increase over the national average. Utilities and healthcare also show higher costs, with indexes at 120 and 125, respectively. These factors contribute to the overall cost of living in Pennington being notably higher than the national average.
Pennington, New Jersey, has a higher cost of living compared to the nationwide average, which is set at 100. The housing index in Pennington stands at 140, indicating that housing costs are 40% higher than the national average. This significant increase suggests that potential residents should budget more for housing expenses.
Other areas also show higher costs in Pennington. For instance, groceries cost 10% more, with an index of 110. Utilities are 20% higher, at 120, while transportation costs are 15% above the national average, with an index of 115. Healthcare costs are 25% higher, at 125, and miscellaneous expenses are 30% higher, with an index of 130. These figures highlight that Pennington residents face elevated costs in multiple areas of daily living.
