Housing costs in Red Bank?
A typical home costs
$547,500, which is 61.9% more expensive than the national average of
$338,100 and 26.7% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Red Bank costs
$1,740 per month, which is 21.7% more than the national average of
$1,430 and close to the state average of
$1,710.
Can I afford Red Bank?
To live comfortably in Red Bank, New Jersey, a minimum annual income of
$104,760 for a family, and
$55,600 for a single person is recommended.
What does A.I. say about Red Bank?
The cost of living in Red Bank, NJ is relatively high compared to other areas in the state. The median home value in the city is $438,700, which is significantly higher than the median home value of $283,400 statewide. Additionally, the cost of groceries and healthcare are both above average when compared to other locations in New Jersey. However, there are some opportunities for savings with taxes being slightly lower than the rest of the state. Overall, living in Red Bank can be expensive but with some careful financial planning and research, it can be made affordable.