F
38%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
113%
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 Hasbrouck Heights New Jersey National
Cost of living138121100
Goods & Services107106100
Groceries102102100
Health care9699100
Housing213158100
Transportation108103100
Utilities111107100

An Overview of Cost of Living in Hasbrouck Heights, NJ

The cost of living in Hasbrouck Heights affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Hasbrouck Heights is 138, which is 38% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Hasbrouck Heights is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Hasbrouck Heights falls into this category, which may not be suitable for those seeking an economically favorable living environment.

When it comes to the cost of living in Hasbrouck Heights, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 112.8% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Is Hasbrouck Heights Affordable?

Is Hasbrouck Heights an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Hasbrouck Heights is 133.9% higher than the national average, while the average monthly rent prices are 63.6% higher than average. The affordability of any location can also be influenced by median income levels. Hasbrouck Heights has a median household income of $95,784, which is 73.1% higher than the national average.

What Factors can Influence the Cost of Living in Hasbrouck Heights?

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Hasbrouck Heights, the housing index comes in at 112.8% higher than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Hasbrouck Heights, healthcare costs are 4.1% lower than the national average.

Where is the Data From?

The Hasbrouck Heights 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 Hasbrouck Heights is 14% higher than the New Jersey average
  • The cost of living in Hasbrouck Heights is 38% higher than the national average
  • Hasbrouck Heights housing is 113% 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 Hasbrouck Heights

See all the best places to live around Hasbrouck Heights

Compare Hasbrouck Heights, 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$122,250$10,188$2,852$3,668
      Renters$42,742$3,562$997$1,282
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Hasbrouck Heights, NJ, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Hasbrouck Heights homeowners, is $122,250. This would allow for a maximum of $2,852 per month to be spent on housing costs. For renters, the median monthly income is $42,742 which would result in a maximum of $997 to be spent on rental costs.

      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 Hasbrouck Heights 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 Hasbrouck Heights 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 Hasbrouck Heights 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 Hasbrouck Heights National avg. Difference
      Home Price $432,000.00$184,700.00133.9%
      Avg. Mortgage Payment $3,568.94$2,346.6952.1%
      Apartment Rent $1,553.00$949.0063.6%

      Transportation

      Item Hasbrouck Heights National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $82.67$59.9238.0%

      Utilities

      Item Hasbrouck Heights 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.
      Greenville CDP (Greene County), NY6041066.1%
      East Orange, NJ64,65011111.1%
      Roselle, NJ21,69911212.0%
      Silver Lake CDP (Warren County), NJ32011313.2%
      Newark, NJ281,91711414.0%
      Hasbrouck Heights, NJ12,02613838.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Green River, WY12,0251032.7%
      Home Gardens, CA12,02713534.5%
      Somersworth, NH12,02711716.5%
      Rawdon, QC12,021n/a 
      Adjala-Tosorontio, ON12,021n/a 
      Hasbrouck Heights, NJ12,02613838.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.