Wood-Ridge, NJ

Very High · 151

New Jersey · Population 10,094 · Updated March 2026

$1,886
Median Rent / Month
$131,412
Median Income
$532,900
Median Home Value
$2,225
Owner Costs / Month

Affordability

How far your income goes in Wood-Ridge

17.2%
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

$22,632
Annual Rent
$14,127
State Income Tax
$11,884
Property Tax (est.)

Cost of Living Overview

Wood-Ridge has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 151 (where 100 equals the national median), Wood-Ridge residents can expect to pay median rent of $1,886/month while earning a median household income of $131,412/year.

The median home value in Wood-Ridge, NJ is $532,900, with typical monthly owner costs around $2,225 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.2% 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 Wood-Ridge.

Frequently Asked Questions

Common questions about living costs in Wood-Ridge

What is the cost of living in Wood-Ridge, NJ?
The cost of living index in Wood-Ridge, NJ is 151 (US average = 100). Median monthly rent is $1,886, median household income is $131,412/year, and the median home value is $532,900.
Is Wood-Ridge, NJ affordable?
No, Wood-Ridge is more expensive than the national average with a cost index of 151. The rent-to-income ratio is 17.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Wood-Ridge, NJ?
The median gross rent in Wood-Ridge, NJ is $1,886 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,632.
What is the median household income in Wood-Ridge?
The median household income in Wood-Ridge, NJ is $131,412 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%.