Cost of Living in Garfield, NJ

With a cost of living index of 126, Garfield, NJ is a notably expensive place to live. Living here is 26% more expensive than the national average and in line with the New Jersey state average. With a population of 32,502, Garfield is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Garfield's cost of living. The median monthly rent is $1,612 (22% above the US median of $1,319), and the median home value sits at $454,300 (49% above the national median of $304,900). At current prices, the median home costs roughly 6x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Garfield is $75,701, which is 1% higher than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

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.