Hillsdale, NJ

Very High · 173

New Jersey · Population 10,086 · Updated March 2026

$1,720
Median Rent / Month
$169,862
Median Income
$656,800
Median Home Value
$2,944
Owner Costs / Month

Affordability

How far your income goes in Hillsdale

12.2%
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

$20,640
Annual Rent
$18,260
State Income Tax
$14,647
Property Tax (est.)

Cost of Living Overview

Hillsdale has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 173 (where 100 equals the national median), Hillsdale residents can expect to pay median rent of $1,720/month while earning a median household income of $169,862/year.

The median home value in Hillsdale, NJ is $656,800, with typical monthly owner costs around $2,944 including mortgage, insurance, and taxes. The median rent-to-income ratio of 12.2% 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 Hillsdale.

Frequently Asked Questions

Common questions about living costs in Hillsdale

What is the cost of living in Hillsdale, NJ?
The cost of living index in Hillsdale, NJ is 173 (US average = 100). Median monthly rent is $1,720, median household income is $169,862/year, and the median home value is $656,800.
Is Hillsdale, NJ affordable?
No, Hillsdale is more expensive than the national average with a cost index of 173. The rent-to-income ratio is 12.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Hillsdale, NJ?
The median gross rent in Hillsdale, NJ is $1,720 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,640.
What is the median household income in Hillsdale?
The median household income in Hillsdale, NJ is $169,862 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%.