Montvale, NJ vs Somerset, NJ

There is a significant gap in the cost of living between these two cities. Somerset is 21.3% cheaper than Montvale. With a cost index of 135 vs 164, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Somerset to Montvale should plan for substantially higher expenses across most categories.

On the housing front, median rent in Montvale is $2,241/month compared to $2,050/month in Somerset — a 9% difference. Home values follow the same pattern: Somerset is more affordable at $408,600 median vs $688,500.

Median household income in Montvale is $183,664 compared to $113,603 in Somerset (+61.7%). While Montvale is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Montvale spend roughly 14.6% of their income on rent, less than the 21.7% in Somerset.