Cost of Living in Monmouth Junction, NJ
Population 9,457 · New Jersey · Data vintage 2023
(100 = US avg)
Monmouth Junction is a smaller New Jersey community of around 9000 residents, where median household incomes of $125,892 and housing costs ($497,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape.
Monmouth Junction is about 30 miles southwest of Elizabeth, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 26% higher than Elizabeth's $394,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Monmouth Junction
The median home value in Monmouth Junction is $497,100 — 63% above the national median of $305,000. Median rent runs $1,880/month, 43% higher than the national median of $1,314/month. The median household income of $125,892/year is 69% higher than the US median of $74,580. The local unemployment rate is 4.3%, 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 63.4°F and lows of 44.8°F, with about 26.6" of annual snowfall. Overall, Monmouth Junction has a cost of living index of 155 versus the US average of 100, meaning it is 55% more expensive.
Monmouth Junction has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 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 | 40 | 43 | 51 | 63 | 72 | 81 | 86 | 84 | 77 | 66 | 55 | 44 |
| Low °F | 24 | 26 | 33 | 42 | 52 | 61 | 67 | 65 | 58 | 46 | 36 | 29 |
| Precip" | 3.29 | 2.65 | 4.00 | 3.63 | 3.99 | 4.35 | 4.42 | 4.22 | 4.05 | 3.79 | 3.20 | 4.04 |
| Snow" | 8.2 | 8.7 | 4.0 | 0.5 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.5 | 4.6 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Monmouth Junction, NJ?
Monmouth Junction has a cost index of 155 (100 = national average). It is 55% above the national average.
What is average rent in Monmouth Junction, NJ?
The median gross rent in Monmouth Junction is $1,880 per month based on 2023 Census data.
What is the average home price in Monmouth Junction?
The median home value in Monmouth Junction is $497,100 according to Zillow and Census data.
What is the median income in Monmouth Junction?
The median household income in Monmouth Junction is $125,892 per year (2023 ACS 5-year estimates).
What is the sales tax in Monmouth Junction, NJ?
The combined state and local sales tax rate in Monmouth Junction is 6.6%. The New Jersey state income tax top rate is 10.8%.
Is Monmouth Junction, NJ affordable?
Monmouth Junction is above average in cost of living, with an index of 155 — about 55% higher than the national average.
What is the weather like in Monmouth Junction?
Monmouth Junction has average high temperatures of 63.4°F and average lows of 44.8°F. Annual precipitation is 45.6". Average annual snowfall is 26.6". Data from NOAA 1991–2020 Climate Normals.
Monmouth Junction at a Glance
- Population
- 9,457
- Median Income
- $125,892
- Home Value
- $497,100
- Median Rent
- $1,880/mo
- Unemployment
- 4.3%
- Avg High Temp
- 63.4°F
- Sales Tax
- 6.6%
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