Cost of Living in Toms River, NJ

With a cost of living index of 121, Toms River, NJ is a notably expensive place to live. Living here is 21% more expensive than the national average and 6% below the New Jersey state average of 128. With a population of 93,915, Toms River 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 Toms River's cost of living. The median monthly rent is $1,678 (27% above the US median of $1,319), and the median home value sits at $377,800 (24% above the national median of $304,900). At current prices, the median home costs roughly 3.9x the median household income — a moderately affordable ratio by today's standards.

The median household income in Toms River is $95,759, which is 27% higher than the national median of $75,149. Residents spend roughly 21% 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.