Cost of Living in Peapack and Gladstone, NJ

With a cost of living index of 164, Peapack and Gladstone, NJ is one of the most expensive cities in the United States. Living here is 64% more expensive than the national average and 36% above the New Jersey state average of 128. Peapack and Gladstone is a small community of 2,547 residents.

Housing costs are the biggest factor in Peapack and Gladstone's cost of living. The median monthly rent is $1,827 (39% above the US median of $1,319), and the median home value sits at $843,400 (177% above the national median of $304,900). At current prices, the median home costs roughly 4.6x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Peapack and Gladstone is $184,231, which is 145% higher than the national median of $75,149. Residents spend roughly 12% 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 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.