Freehold, NJ vs Medford Lakes, NJ

Freehold, NJ and Medford Lakes, NJ have a very similar cost of living, with only a 2.5% difference in their overall index. Freehold scores 128 while Medford Lakes scores 131 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 Freehold is $1,818/month compared to $2,136/month in Medford Lakes — a 15% difference. Interestingly, home values tell a different story: while Freehold has cheaper rent, Medford Lakes actually has lower median home values ($368,200 vs $401,900).

Median household income in Freehold is $82,183 compared to $151,190 in Medford Lakes (-45.6%). While Medford Lakes is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Freehold spend roughly 26.5% of their income on rent, more than the 17% in Medford Lakes.