Housing costs in Elwood?
A typical home costs
$175,500, which is 48.1% less expensive than the national average of
$338,100 and 59.4% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Elwood costs
$1,550 per month, which is 8.4% more than the national average of
$1,430 and 10.3% cheaper than the state average of
$1,710.
Can I afford Elwood?
To live comfortably in Elwood, New Jersey, a minimum annual income of
$33,480 for a family, and
$49,200 for a single person is recommended.
What does A.I. say about Elwood?
The cost of living in Elwood, NJ is relatively low compared to other areas in the state. The median home price in Elwood is $237,000 and the median rent is around $1,400 per month. Additionally, while groceries and utilities can be slightly higher than the national average, overall they remain reasonable. On top of that, property taxes are lower than average for New Jersey and the local sales tax rate of 6% is among the lowest in the state. All these factors combined make Elwood a great place to live for those looking to get more value out their money.