Housing costs in New Vernon?
A typical home costs
$2,054,500, which is 507.7% more expensive than the national average of
$338,100 and 375.5% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in New Vernon costs
$1,870 per month, which is 30.8% more than the national average of
$1,430 and 8.6% more than the state average of
$1,710.
Can I afford New Vernon?
To live comfortably in New Vernon (zip 07976), New Jersey, a minimum annual income of
$393,480 for a family, and
$62,400 for a single person is recommended.
What does A.I. say about New Vernon?
The cost of living in 07976 New Vernon, NJ is quite high when compared to the national average. According to data from BestPlaces.net, the overall cost of living index for this area is 148.9, which is 48.9% higher than the US average of 100. This means that goods and services here are more expensive than they would be in an average American city. Housing costs are particularly high, with the median home price estimated at $740,000, making it one of the most expensive places to live in the state. In addition to these higher prices, residents also have to contend with higher taxes as well as a higher cost of food and transportation expenses.