Medford Lakes, NJ vs Oakland, NJ

Medford Lakes, NJ and Oakland, NJ have a very similar cost of living, with only a 0.4% difference in their overall index. Medford Lakes scores 131 while Oakland scores 130 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 Medford Lakes is $2,136/month compared to $1,462/month in Oakland — a 46% difference. Interestingly, home values tell a different story: while Oakland has cheaper rent, Medford Lakes actually has lower median home values ($368,200 vs $567,200).

Median household income in Medford Lakes is $151,190 compared to $162,862 in Oakland (-7.2%). Oakland offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Medford Lakes spend roughly 17% of their income on rent, more than the 10.8% in Oakland.