Freehold, NJ

Very High · 130

New Jersey · Population 12,504 · Updated March 2026

$1,818
Median Rent / Month
$82,183
Median Income
$401,900
Median Home Value
$1,923
Owner Costs / Month

Affordability

How far your income goes in Freehold

26.5%
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

$21,816
Annual Rent
$8,835
State Income Tax
$8,962
Property Tax (est.)

Cost of Living Overview

Freehold 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), Freehold residents can expect to pay median rent of $1,818/month while earning a median household income of $82,183/year.

The median home value in Freehold, NJ is $401,900, with typical monthly owner costs around $1,923 including mortgage, insurance, and taxes. With a rent-to-income ratio of 26.5%, Freehold 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 Freehold.

Frequently Asked Questions

Common questions about living costs in Freehold

What is the cost of living in Freehold, NJ?
The cost of living index in Freehold, NJ is 130 (US average = 100). Median monthly rent is $1,818, median household income is $82,183/year, and the median home value is $401,900.
Is Freehold, NJ affordable?
No, Freehold is more expensive than the national average with a cost index of 130. The rent-to-income ratio is 26.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Freehold, NJ?
The median gross rent in Freehold, NJ is $1,818 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $21,816.
What is the median household income in Freehold?
The median household income in Freehold, NJ is $82,183 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%.