Woodland Park, NJ

Very High · 137

New Jersey · Population 13,284 · Updated March 2026

$1,773
Median Rent / Month
$85,638
Median Income
$475,400
Median Home Value
$1,934
Owner Costs / Month

Affordability

How far your income goes in Woodland Park

24.8%
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

$21,276
Annual Rent
$9,206
State Income Tax
$10,601
Property Tax (est.)

Cost of Living Overview

Woodland Park has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 137 (where 100 equals the national median), Woodland Park residents can expect to pay median rent of $1,773/month while earning a median household income of $85,638/year.

The median home value in Woodland Park, NJ is $475,400, with typical monthly owner costs around $1,934 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.8% 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 Woodland Park.

Frequently Asked Questions

Common questions about living costs in Woodland Park

What is the cost of living in Woodland Park, NJ?
The cost of living index in Woodland Park, NJ is 137 (US average = 100). Median monthly rent is $1,773, median household income is $85,638/year, and the median home value is $475,400.
Is Woodland Park, NJ affordable?
No, Woodland Park is more expensive than the national average with a cost index of 137. The rent-to-income ratio is 24.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Woodland Park, NJ?
The median gross rent in Woodland Park, NJ is $1,773 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $21,276.
What is the median household income in Woodland Park?
The median household income in Woodland Park, NJ is $85,638 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%.