Cost of Living in Mount Hope, NJ
Population 3,082 · New Jersey · Data vintage 2023
(100 = US avg)
Mount Hope skews considerably older than the national median, with an average age of 61. Reported household income of $87,927 often reflects pension and investment income rather than wages, which makes the local tax picture — especially property tax treatment — a larger factor than in working-age cities.
Geographically, Mount Hope sits roughly 20 miles west of Paterson. Median home values run roughly 16% higher than Paterson's $335,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Mount Hope
The median home value in Mount Hope is $387,800 — 27% above the national median of $305,000. Median rent runs $1,745/month, 33% higher than the national median of $1,314/month. The median household income of $87,927/year is 18% higher than the US median of $74,580. The local unemployment rate is 6.0%, above 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 60.7°F and lows of 40.2°F. Overall, Mount Hope has a cost of living index of 129 versus the US average of 100, meaning it is 29% more expensive.
Mount Hope 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 | 36 | 39 | 48 | 61 | 71 | 79 | 84 | 82 | 74 | 63 | 52 | 41 |
| Low °F | 19 | 20 | 28 | 38 | 48 | 57 | 62 | 60 | 52 | 42 | 32 | 25 |
| Precip" | 3.27 | 2.83 | 4.07 | 3.78 | 3.83 | 4.54 | 5.06 | 4.85 | 4.32 | 4.64 | 3.43 | 4.18 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Mount Hope, NJ?
Mount Hope has a cost index of 129 (100 = national average). It is 29% above the national average.
What is average rent in Mount Hope, NJ?
The median gross rent in Mount Hope is $1,745 per month based on 2023 Census data.
What is the average home price in Mount Hope?
The median home value in Mount Hope is $387,800 according to 2023 Census ACS data.
What is the median income in Mount Hope?
The median household income in Mount Hope is $87,927 per year (2023 ACS 5-year estimates).
What is the sales tax in Mount Hope, NJ?
The combined state and local sales tax rate in Mount Hope is 6.6%. The New Jersey state income tax top rate is 10.8%.
Is Mount Hope, NJ affordable?
Mount Hope is above average in cost of living, with an index of 129 — about 29% higher than the national average.
What is the weather like in Mount Hope?
Mount Hope has average high temperatures of 60.7°F and average lows of 40.2°F. Annual precipitation is 48.8". Data from NOAA 1991–2020 Climate Normals.
Mount Hope at a Glance
- Population
- 3,082
- Median Income
- $87,927
- Home Value
- $387,800
- Median Rent
- $1,745/mo
- Unemployment
- 6.0%
- Avg High Temp
- 60.7°F
- Sales Tax
- 6.6%
Nearby Cities
Explore county-level cost of living data
New Jersey Rankings
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