Fort Lee, NJ

Very High · 147

New Jersey · Population 39,818 · Updated March 2026

$2,255
Median Rent / Month
$105,535
Median Income
$422,200
Median Home Value
$2,055
Owner Costs / Month

Affordability

How far your income goes in Fort Lee

25.6%
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

$27,060
Annual Rent
$11,345
State Income Tax
$9,415
Property Tax (est.)

Cost of Living Overview

Fort Lee has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 147 (where 100 equals the national median), Fort Lee residents can expect to pay median rent of $2,255/month while earning a median household income of $105,535/year.

The median home value in Fort Lee, NJ is $422,200, with typical monthly owner costs around $2,055 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.6%, Fort Lee 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 Fort Lee.

Frequently Asked Questions

Common questions about living costs in Fort Lee

What is the cost of living in Fort Lee, NJ?
The cost of living index in Fort Lee, NJ is 147 (US average = 100). Median monthly rent is $2,255, median household income is $105,535/year, and the median home value is $422,200.
Is Fort Lee, NJ affordable?
No, Fort Lee is more expensive than the national average with a cost index of 147. The rent-to-income ratio is 25.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Fort Lee, NJ?
The median gross rent in Fort Lee, NJ is $2,255 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $27,060.
What is the median household income in Fort Lee?
The median household income in Fort Lee, NJ is $105,535 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%.