Cost of Living in Pennington, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
234.4
100 = national avg
+134.4 vs national average
Living Wage (1 Adult)
$103,130
per year
Living Wage (Family of 4)
$243,762
per year
Cost Index by Category
Housing268.6
Food180.9
Transportation261.8
Healthcare164.7
Utilities182.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,545
per month
2 Bedroom
$1,950
per month
The overall cost of living index in Pennington is 234.4, which is 134.4% above the national average. Housing costs are above the national average at an index of 268.6. A single adult needs to earn approximately $103,130 per year to cover basic expenses.