Princeton, NJ vs Upper Montclair, NJ

Princeton, NJ and Upper Montclair, NJ have a very similar cost of living, with only a 3.8% difference in their overall index. Princeton scores 195 while Upper Montclair scores 188 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 Princeton is $2,448/month compared to $2,290/month in Upper Montclair — a 7% difference. Home values follow the same pattern: Upper Montclair is more affordable at $968,200 median vs $1,040,400.

Median household income in Princeton is $184,113 compared to $250,001 in Upper Montclair (-26.4%). Upper Montclair offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Princeton spend roughly 16% of their income on rent, more than the 11% in Upper Montclair.