Cherry Hill Mall, NJ

Very High · 130

New Jersey · Population 14,827 · Updated March 2026

$2,069
Median Rent / Month
$117,535
Median Income
$313,000
Median Home Value
$2,078
Owner Costs / Month

Affordability

How far your income goes in Cherry Hill Mall

21.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

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

$24,828
Annual Rent
$12,635
State Income Tax
$6,980
Property Tax (est.)

Cost of Living Overview

Cherry Hill Mall has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 130 (where 100 equals the national median), Cherry Hill Mall residents can expect to pay median rent of $2,069/month while earning a median household income of $117,535/year.

The median home value in Cherry Hill Mall, NJ is $313,000, with typical monthly owner costs around $2,078 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

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 Cherry Hill Mall.

Frequently Asked Questions

Common questions about living costs in Cherry Hill Mall

What is the cost of living in Cherry Hill Mall, NJ?
The cost of living index in Cherry Hill Mall, NJ is 130 (US average = 100). Median monthly rent is $2,069, median household income is $117,535/year, and the median home value is $313,000.
Is Cherry Hill Mall, NJ affordable?
No, Cherry Hill Mall is more expensive than the national average with a cost index of 130. The rent-to-income ratio is 21.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Cherry Hill Mall, NJ?
The median gross rent in Cherry Hill Mall, NJ is $2,069 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,828.
What is the median household income in Cherry Hill Mall?
The median household income in Cherry Hill Mall, NJ is $117,535 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%.