Hackensack, NJ

Above Avg · 125

New Jersey · Population 45,768 · Updated March 2026

$1,794
Median Rent / Month
$82,212
Median Income
$370,300
Median Home Value
$1,908
Owner Costs / Month

Affordability

How far your income goes in Hackensack

26.2%
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

$21,528
Annual Rent
$8,838
State Income Tax
$8,258
Property Tax (est.)

Cost of Living Overview

Hackensack has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 125 (where 100 equals the national median), Hackensack residents can expect to pay median rent of $1,794/month while earning a median household income of $82,212/year.

The median home value in Hackensack, NJ is $370,300, with typical monthly owner costs around $1,908 including mortgage, insurance, and taxes. With a rent-to-income ratio of 26.2%, Hackensack 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 Hackensack.

Frequently Asked Questions

Common questions about living costs in Hackensack

What is the cost of living in Hackensack, NJ?
The cost of living index in Hackensack, NJ is 125 (US average = 100). Median monthly rent is $1,794, median household income is $82,212/year, and the median home value is $370,300.
Is Hackensack, NJ affordable?
No, Hackensack is more expensive than the national average with a cost index of 125. The rent-to-income ratio is 26.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Hackensack, NJ?
The median gross rent in Hackensack, NJ is $1,794 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $21,528.
What is the median household income in Hackensack?
The median household income in Hackensack, NJ is $82,212 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%.