Cost of Living in Boonton, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
171.4
100 = national avg
+71.4 vs national average
Living Wage (1 Adult)
$75,403
per year
Living Wage (Family of 4)
$178,226
per year
Cost Index by Category
Housing243.0
Food126.8
Transportation117.9
Healthcare121.4
Utilities144.6
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,822
per month
2 Bedroom
$2,205
per month
The overall cost of living index in Boonton is 171.4, which is 71.4% above the national average. Housing costs are above the national average at an index of 243.0. A single adult needs to earn approximately $75,403 per year to cover basic expenses.