Housing costs in Randolph?
A typical home costs
$679,100, which is 100.9% more expensive than the national average of
$338,100 and 57.2% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Randolph costs
$1,730 per month, which is 21.0% more than the national average of
$1,430 and close to the state average of
$1,710.
Can I afford Randolph?
To live comfortably in Randolph, New Jersey, a minimum annual income of
$129,960 for a family, and
$57,600 for a single person is recommended.
What does A.I. say about Randolph?
The cost of living in Randolph, NJ is higher than the national average. Housing prices in Randolph are particularly high, with the median home costing around $450,000. Groceries and transportation costs are also above average for the area. However, the town does offer a few tax incentives that can help offset these costs. For example, Randolph residents may be eligible to receive a 50% reduction on their property taxes if they live in a designated specialty zone. Additionally, businesses located in the town enjoy lower corporate and sales taxes than other towns in New Jersey. All these factors make Randolph an attractive place to live for those who can afford it.