Cost of Living in Passaic, NJ

With a cost of living index of 115, Passaic, NJ is somewhat more expensive than average. Living here is 15% more expensive than the national average and 13% below the New Jersey state average of 128. With a population of 69,651, Passaic 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 Passaic's cost of living. The median monthly rent is $1,392 (6% above the US median of $1,319), and the median home value sits at $406,500 (33% above the national median of $304,900). At current prices, the median home costs roughly 7.2x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Passaic is $56,780, which is 24% lower than the national median of $75,149. Residents spend roughly 29% 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.