Westwood, NJ, exhibits a cost of living index higher than the nationwide average in several key areas. Housing stands at 38% above the national average, while groceries are 12% higher. Utilities and healthcare in Westwood are also higher, with utilities at 7% and healthcare at 10% above the average. Transportation costs, however, are slightly lower at 5% below the national average.
The overall cost of living in Westwood, NJ, reflects its desirability for potential residents and job seekers. With housing and groceries being the most significant contributors to the elevated cost of living, individuals need to factor these expenses into their budget planning. Despite higher costs in some areas, Westwood offers a balanced living experience with lower transportation costs.
Westwood, New Jersey, exhibits a cost of living index that is higher than the nationwide average, which is indexed at 100. Housing costs in Westwood are 38% higher than the national average, with an index of 138. This elevated index reflects the greater expenses residents face when renting or buying homes in Westwood compared to the average U.S. location.
Beyond housing, other expenses also exceed the national norm. For instance, groceries in Westwood are priced at 12% more than the national average, with an index of 112. Utilities in Westwood also show a slight increase, costing 7% more with an index of 107. Transportation costs, however, are relatively lower, with an index of 95, indicating 5% less than the nationwide average. Healthcare and miscellaneous expenses also present a moderate rise, with indices of 110 and 119 respectively. This translates to healthcare costs being 10% higher and miscellaneous costs being 19% higher than the national average. Overall, these metrics illustrate a higher cost of living in Westwood, New Jersey, compared to the national average.
