Cost of Living in Hope, NJ

With a cost of living index of 100, Hope, NJ is right around the national average in cost. Living here is 0% cheaper than the national average and 28% below the New Jersey state average of 128. Hope is a small community of 214 residents.

Housing costs are the biggest factor in Hope's cost of living. The median monthly rent is $1,303 (1% below the US median of $1,319), and the median home value sits at $312,500 (2% above the national median of $304,900). At current prices, the median home costs roughly 4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Hope is $78,750, which is 5% higher than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Allentown-Bethlehem-Easton, PA-NJ (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower 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.