Dover, NJ

Above Avg · 120

New Jersey · Population 18,420 · Updated March 2026

$1,743
Median Rent / Month
$70,519
Median Income
$347,100
Median Home Value
$1,831
Owner Costs / Month

Affordability

How far your income goes in Dover

29.7%
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

$20,916
Annual Rent
$7,581
State Income Tax
$7,740
Property Tax (est.)

Cost of Living Overview

Dover has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 120 (where 100 equals the national median), Dover residents can expect to pay median rent of $1,743/month while earning a median household income of $70,519/year.

The median home value in Dover, NJ is $347,100, with typical monthly owner costs around $1,831 including mortgage, insurance, and taxes. With a rent-to-income ratio of 29.7%, Dover 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 Dover.

Frequently Asked Questions

Common questions about living costs in Dover

What is the cost of living in Dover, NJ?
The cost of living index in Dover, NJ is 120 (US average = 100). Median monthly rent is $1,743, median household income is $70,519/year, and the median home value is $347,100.
Is Dover, NJ affordable?
No, Dover is more expensive than the national average with a cost index of 120. The rent-to-income ratio is 29.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Dover, NJ?
The median gross rent in Dover, NJ is $1,743 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,916.
What is the median household income in Dover?
The median household income in Dover, NJ is $70,519 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%.