Boonton, NJ vs Summit, NJ

The cost of living difference between Boonton, NJ and Summit, NJ is dramatic. Boonton is 30.2% cheaper than Summit, a gap that translates to thousands of dollars per year in household expenses. Boonton has a cost index of 132 while Summit sits at 189, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Boonton is $1,761/month compared to $2,308/month in Summit — a 24% difference. Home values follow the same pattern: Boonton is more affordable at $475,300 median vs $969,900.

Median household income in Boonton is $100,417 compared to $199,107 in Summit (-49.6%). While Summit is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Boonton spend roughly 21% of their income on rent, more than the 13.9% in Summit.