Montvale, NJ vs Summit, NJ

Montvale is moderately more affordable than Summit, with a 13.3% lower cost of living index. Montvale scores 164 compared to 189 for Summit, where the US average is 100. This difference means residents of Summit can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Montvale is $2,241/month compared to $2,308/month in Summit — a 3% difference. Home values follow the same pattern: Montvale is more affordable at $688,500 median vs $969,900.

Median household income in Montvale is $183,664 compared to $199,107 in Summit (-7.8%). The higher salaries in Summit partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Montvale spend roughly 14.6% of their income on rent, more than the 13.9% in Summit.