Cost of Living in Victory Gardens, NJ

With a cost of living index of 101, Victory Gardens, NJ is right around the national average in cost. Living here is 1% more expensive than the national average and 26% below the New Jersey state average of 128. Victory Gardens is a small community of 1,891 residents.

Housing costs are the biggest factor in Victory Gardens's cost of living. The median monthly rent is $1,430 (8% above the US median of $1,319), and the median home value sits at $224,800 (26% below the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Victory Gardens is $52,235, which is 30% lower than the national median of $75,149. Residents spend roughly 33% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened.

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.