Asbury Park, NJ

Very High · 135

New Jersey · Population 15,239 · Updated March 2026

$1,679
Median Rent / Month
$71,080
Median Income
$508,800
Median Home Value
$1,754
Owner Costs / Month

Affordability

How far your income goes in Asbury Park

28.3%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in New Jersey

State-level tax rates that affect your costs

10.75%
Income Tax (Top Rate)
6.625%
Sales Tax
2.23%
Property Tax Rate

Estimated Annual Costs

$20,148
Annual Rent
$7,641
State Income Tax
$11,346
Property Tax (est.)

Cost of Living Overview

Asbury Park has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 135 (where 100 equals the national median), Asbury Park residents can expect to pay median rent of $1,679/month while earning a median household income of $71,080/year.

The median home value in Asbury Park, NJ is $508,800, with typical monthly owner costs around $1,754 including mortgage, insurance, and taxes. With a rent-to-income ratio of 28.3%, Asbury Park falls within the generally affordable range, though it's approaching the 30% burden threshold.

New Jersey's top income tax rate of 10.75% is among the highest in the nation, adding to the overall cost burden. Combined with a 6.625% sales tax rate and 2.23% effective property tax rate, the overall tax environment is a factor in the total cost of living in Asbury Park.

Frequently Asked Questions

Common questions about living costs in Asbury Park

What is the cost of living in Asbury Park, NJ?
The cost of living index in Asbury Park, NJ is 135 (US average = 100). Median monthly rent is $1,679, median household income is $71,080/year, and the median home value is $508,800.
Is Asbury Park, NJ affordable?
No, Asbury Park is more expensive than the national average with a cost index of 135. The rent-to-income ratio is 28.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Asbury Park, NJ?
The median gross rent in Asbury Park, NJ is $1,679 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,148.
What is the median household income in Asbury Park?
The median household income in Asbury Park, NJ is $71,080 per year. This compares to the national median of approximately $80,000.
What are the taxes like in New Jersey?
New Jersey has a top income tax rate of 10.75%, a sales tax of 6.625%, and an effective property tax rate of 2.23%.