Cost of Living in New Village, NJ

With a cost of living index of 111, New Village, NJ is somewhat more expensive than average. Living here is 11% more expensive than the national average and 16% below the New Jersey state average of 128. New Village is a small community of 366 residents.

Housing costs are the biggest factor in New Village's cost of living. The median monthly rent is $1,654 (25% above the US median of $1,319), and the median home value sits at $325,000 (7% above the national median of $304,900). At current prices, the median home costs roughly 3x the median household income — well within traditional affordability guidelines.

The median household income in New Village is $108,661, which is 45% higher than the national median of $75,149. Residents spend roughly 18% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

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.