Trenton, NJ

Very Low · 70

New Jersey · Population 89,966 · Updated March 2026

$1,224
Median Rent / Month
$47,102
Median Income
$122,500
Median Home Value
$1,224
Owner Costs / Month

Affordability

How far your income goes in Trenton

31.2%
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

$14,688
Annual Rent
$5,063
State Income Tax
$2,732
Property Tax (est.)

Cost of Living Overview

Trenton is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 70 (where 100 equals the national median), Trenton residents can expect to pay median rent of $1,224/month while earning a median household income of $47,102/year.

The median home value in Trenton, NJ is $122,500, with typical monthly owner costs around $1,224 including mortgage, insurance, and taxes. At 31.2% rent-to-income ratio, residents of Trenton are spending more than the recommended 30% of income on housing, indicating moderate cost burden.

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 Trenton.

Frequently Asked Questions

Common questions about living costs in Trenton

What is the cost of living in Trenton, NJ?
The cost of living index in Trenton, NJ is 70 (US average = 100). Median monthly rent is $1,224, median household income is $47,102/year, and the median home value is $122,500.
Is Trenton, NJ affordable?
Yes, Trenton is more affordable than the national average with a cost index of 70. The rent-to-income ratio is 31.2%—above the 30%% affordability threshold.
What is the average rent in Trenton, NJ?
The median gross rent in Trenton, NJ is $1,224 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,688.
What is the median household income in Trenton?
The median household income in Trenton, NJ is $47,102 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%.