Cost of Living in Cranford, NJ

With a cost of living index of 155, Cranford, NJ is one of the most expensive cities in the United States. Living here is 55% more expensive than the national average and 27% above the New Jersey state average of 128. Cranford is a small community of 1,783 residents.

Housing costs are the biggest factor in Cranford's cost of living. The median monthly rent is $2,312 (75% above the US median of $1,319), and the median home value sits at $550,000 (80% above the national median of $304,900). At current prices, the median home costs roughly 6.7x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Cranford is $82,222, which is 9% higher than the national median of $75,149. Residents spend roughly 34% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened.

Everyday prices in the New York-Newark-Jersey City, NY-NJ (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.