Cost of Living in Elwood, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
118.0
100 = national avg
+18.0 vs national average
Living Wage (1 Adult)
$51,901
per year
Living Wage (Family of 4)
$122,675
per year
Cost Index by Category
Housing142.5
Food102.5
Transportation105.0
Healthcare102.0
Utilities110.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,537
per month
2 Bedroom
$1,867
per month
The overall cost of living index in Elwood is 118.0, which is 18.0% above the national average. Housing costs are above the national average at an index of 142.5. A single adult needs to earn approximately $51,901 per year to cover basic expenses.