F
42%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
124%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Fair Lawn New Jersey National
Cost of living142121100
Goods & Services107106100
Groceries102102100
Health care9699100
Housing224158100
Transportation108103100
Utilities111107100

An Overview of Cost of Living in Fair Lawn, NJ

Getting a feel for the cost of living in Fair Lawn is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Fair Lawn is 142, which is 42% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Fair Lawn is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Fair Lawn falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs are a major factor in the Fair Lawn cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 124.1% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Fair Lawn Affordable?

Is Fair Lawn an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Fair Lawn, the median home price is 137.7% higher than what most folks pay across the country, and monthly rent prices are 92.4% higher than the usual rates. Income levels in Fair Lawn come in at $129,965, which is 134.9% higher than the national average.

What Factors can Influence the Cost of Living in Fair Lawn?

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Fair Lawn, the utilities index registers at 10.7% higher than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Fair Lawn, healthcare costs are 4.1% lower than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Fair Lawn, the transportation index is 8.3% higher than the national average.

Where is the Data From?

The Fair Lawn cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Fair Lawn is 17% higher than the New Jersey average
  • The cost of living in Fair Lawn is 42% higher than the national average
  • Fair Lawn housing is 124% higher than the national average
  • New Jersey general sales tax is 30% higher than the national average
  • New Jersey state income tax is 46% lower than the national average

Most Affordable Places to Live in and Around Fair Lawn

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Compare Fair Lawn, NJ Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$148,971$12,414$3,476$4,470
      Renters$74,035$6,170$1,727$2,221
      To approximate the cost of living and the housing affordability in Fair Lawn, NJ, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Fair Lawn have a median income of $148,971. Therefore, the amount that a consumer should spend on housing costs should be no more than $3,476 per month to avoid calamity and poverty. The renters in the city have an income of about $74,035, which would make their monthly maximum allowable rental costs $1,727.

      New Jersey Sales Tax

      State General Sales Tax With Max Surtax
      New Jersey 6.625% 12.625%

      New Jersey Income Tax

      State Income Tax (Low) Income Tax (High)
      New Jersey 1.4% 10.75%

      Goods & Services

      Item Fair Lawn National avg. Difference
      Haircut $25.62$24.265.6%
      Beauty Salon $41.67$45.568.6%
      Toothpaste $3.72$3.700.4%
      Shampoo $1.48$1.2815.6%
      Movie $15.78$12.1330.1%
      Bowling $21.00$18.0016.7%

      Groceries

      Item Fair Lawn National avg. Difference
      Ground Beef $5.65$5.843.3%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.71$4.670.7%
      Potatoes $5.37$4.938.8%
      Pizza $11.49$12.094.9%
      Beer $11.33$10.418.8%

      Health Care

      Item Fair Lawn National avg. Difference
      Optometrist $157.11$125.6825.0%
      Doctor $115.59$135.7814.9%
      Dentist $124.27$113.299.7%
      Ibuprofen $11.15$10.654.6%
      Lipitor $451.73$468.603.6%

      Housing

      Item Fair Lawn National avg. Difference
      Home Price $439,100.00$184,700.00137.7%
      Avg. Mortgage Payment $3,568.94$2,346.6952.1%
      Apartment Rent $1,826.00$949.0092.4%

      Transportation

      Item Fair Lawn National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $82.67$59.9238.0%

      Utilities

      Item Fair Lawn National avg. Difference
      All Electricity $236.04$193.9921.7%
      Phone $186.61$192.252.9%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      East Orange, NJ64,65011111.1%
      Silver Lake CDP (Warren County), NJ32011313.2%
      Newark, NJ281,91711414.0%
      Paterson, NJ145,48411515.3%
      Haledon, NJ8,29811919.2%
      Fair Lawn, NJ32,98614241.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fort Erie, ON32,970n/a 
      Copperas Cove, TX32,9608713.0%
      Springfield, VA32,96015151.0%
      Andover, MN33,01911818.1%
      Walla Walla, WA32,9511054.7%
      Fair Lawn, NJ32,98614241.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.