Oak Ridge, NJ

Above Avg · 122

New Jersey · Population 10,860 · Updated March 2026

$1,320
Median Rent / Month
$118,718
Median Income
$417,300
Median Home Value
$2,190
Owner Costs / Month

Affordability

How far your income goes in Oak Ridge

13.3%
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

$15,840
Annual Rent
$12,762
State Income Tax
$9,306
Property Tax (est.)

Cost of Living Overview

Oak Ridge has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 122 (where 100 equals the national median), Oak Ridge residents can expect to pay median rent of $1,320/month while earning a median household income of $118,718/year.

The median home value in Oak Ridge, NJ is $417,300, with typical monthly owner costs around $2,190 including mortgage, insurance, and taxes. The median rent-to-income ratio of 13.3% 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 Oak Ridge.

Frequently Asked Questions

Common questions about living costs in Oak Ridge

What is the cost of living in Oak Ridge, NJ?
The cost of living index in Oak Ridge, NJ is 122 (US average = 100). Median monthly rent is $1,320, median household income is $118,718/year, and the median home value is $417,300.
Is Oak Ridge, NJ affordable?
No, Oak Ridge is more expensive than the national average with a cost index of 122. The rent-to-income ratio is 13.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Oak Ridge, NJ?
The median gross rent in Oak Ridge, NJ is $1,320 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,840.
What is the median household income in Oak Ridge?
The median household income in Oak Ridge, NJ is $118,718 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%.