Cost of Living in Red Bank, NJ
Population 12,864 · New Jersey · Data vintage 2023
(100 = US avg)
Red Bank sits on the smaller end of the New Jersey city distribution. That scale shapes the housing market, the labor pool, and the services available to residents in ways the data below makes visible.
Located 25 miles south of New York, Red Bank falls within that metro's commuting orbit. Median home values run roughly 37% lower than New York's $752,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Red Bank
The median home value in Red Bank is $477,000 — 56% above the national median of $305,000. Median rent runs $1,985/month, 51% higher than the national median of $1,314/month. The median household income of $101,738/year is 36% higher than the US median of $74,580. The local unemployment rate is 3.1%, 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 63.8°F and lows of 47.1°F, with about 31.5" of annual snowfall. Overall, Red Bank has a cost of living index of 154 versus the US average of 100, meaning it is 54% 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 | 40 | 43 | 51 | 63 | 73 | 82 | 87 | 85 | 78 | 66 | 55 | 45 |
| Low °F | 26 | 27 | 34 | 44 | 54 | 64 | 69 | 68 | 61 | 49 | 39 | 31 |
| Precip" | 3.42 | 2.98 | 4.13 | 3.87 | 3.97 | 4.34 | 4.66 | 4.15 | 3.82 | 3.79 | 3.33 | 4.14 |
| Snow" | 9.1 | 10.1 | 5.6 | 0.5 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.2 | 0.6 | 5.4 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Red Bank, NJ?
Red Bank has a cost index of 154 (100 = national average). It is 54% above the national average.
What is average rent in Red Bank, NJ?
The median gross rent in Red Bank is $1,985 per month based on 2023 Census data.
What is the average home price in Red Bank?
The median home value in Red Bank is $477,000 according to Zillow and Census data.
What is the median income in Red Bank?
The median household income in Red Bank is $101,738 per year (2023 ACS 5-year estimates).
What is the sales tax in Red Bank, NJ?
The combined state and local sales tax rate in Red Bank is 6.6%. The New Jersey state income tax top rate is 10.8%.
Is Red Bank, NJ affordable?
Red Bank is above average in cost of living, with an index of 154 — about 54% higher than the national average.
What is the weather like in Red Bank?
Red Bank has average high temperatures of 63.8°F and average lows of 47.1°F. Annual precipitation is 46.6". Average annual snowfall is 31.5". Data from NOAA 1991–2020 Climate Normals.
Red Bank at a Glance
- Population
- 12,864
- Median Income
- $101,738
- Home Value
- $477,000
- Median Rent
- $1,985/mo
- Unemployment
- 3.1%
- Avg High Temp
- 63.8°F
- Sales Tax
- 6.6%
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