Cost of Living in Basking Ridge, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
238.8
100 = national avg
+138.8 vs national average
Living Wage (1 Adult)
$105,081
per year
Living Wage (Family of 4)
$248,372
per year
Cost Index by Category
Housing228.3
Food200.0
Transportation306.3
Healthcare182.5
Utilities187.6
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,978
per month
2 Bedroom
$2,486
per month
The overall cost of living index in Basking Ridge is 238.8, which is 138.8% above the national average. Housing costs are above the national average at an index of 228.3. A single adult needs to earn approximately $105,081 per year to cover basic expenses.