Cost of Living in Florham Park, NJ
Population 13,134 · New Jersey · Data vintage 2023
(100 = US avg)
Florham Park's housing market reflects its status as a high-earning metro: $723,000 for a typical home, 137% above the US median, paired with household incomes around $147,714 that put it in the upper third of the state.
Located 12 miles west of Newark, Florham Park falls within that metro's commuting orbit. Median home values run roughly 114% higher than Newark's $338,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Florham Park
The median home value in Florham Park is $722,700 — 137% above the national median of $305,000. Median rent runs $3,009/month, 129% higher than the national median of $1,314/month. The median household income of $147,714/year is 98% higher than the US median of $74,580. The local unemployment rate is 4.6%, below the national average of 4.8%. New Jersey's top state income tax rate is 10.8% and the combined sales tax is 6.6%. The climate averages highs of 62.4°F and lows of 43.8°F. Overall, Florham Park has a cost of living index of 234 versus the US average of 100, meaning it is 134% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 38 | 41 | 49 | 62 | 72 | 81 | 85 | 84 | 76 | 65 | 53 | 43 |
| Low °F | 23 | 24 | 31 | 41 | 51 | 60 | 66 | 64 | 57 | 45 | 35 | 28 |
| Precip" | 3.04 | 2.55 | 4.07 | 3.71 | 3.39 | 4.27 | 4.33 | 4.49 | 3.72 | 3.97 | 3.30 | 4.04 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Florham Park, NJ?
Florham Park has a cost index of 234 (100 = national average). It is 134% above the national average.
What is average rent in Florham Park, NJ?
The median gross rent in Florham Park is $3,009 per month based on 2023 Census data.
What is the average home price in Florham Park?
The median home value in Florham Park is $722,700 according to Zillow and Census data.
What is the median income in Florham Park?
The median household income in Florham Park is $147,714 per year (2023 ACS 5-year estimates).
What is the sales tax in Florham Park, NJ?
The combined state and local sales tax rate in Florham Park is 6.6%. The New Jersey state income tax top rate is 10.8%.
Is Florham Park, NJ affordable?
Florham Park is above average in cost of living, with an index of 234 — about 134% higher than the national average.
What is the weather like in Florham Park?
Florham Park has average high temperatures of 62.4°F and average lows of 43.8°F. Annual precipitation is 44.9". Data from NOAA 1991–2020 Climate Normals.
Florham Park at a Glance
- Population
- 13,134
- Median Income
- $147,714
- Home Value
- $722,700
- Median Rent
- $3,009/mo
- Unemployment
- 4.6%
- Avg High Temp
- 62.4°F
- Sales Tax
- 6.6%
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Explore county-level cost of living data
New Jersey Rankings
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