Fort Lee, NJ vs New Milford, NJ

Fort Lee, NJ and New Milford, NJ have a very similar cost of living, with only a 3.9% difference in their overall index. Fort Lee scores 142 while New Milford scores 137 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Fort Lee is $2,255/month compared to $1,722/month in New Milford — a 31% difference. Interestingly, home values tell a different story: while New Milford has cheaper rent, Fort Lee actually has lower median home values ($422,200 vs $554,800).

Median household income in Fort Lee is $105,535 compared to $113,513 in New Milford (-7%). New Milford offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Fort Lee spend roughly 25.6% of their income on rent, more than the 18.2% in New Milford.