Cost of Living in Preakness, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
211.1
100 = national avg
+111.1 vs national average
Living Wage (1 Adult)
$92,887
per year
Living Wage (Family of 4)
$219,550
per year
Cost Index by Category
Housing275.7
Food151.8
Transportation203.6
Healthcare141.4
Utilities166.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$2,024
per month
2 Bedroom
$2,324
per month
The overall cost of living index in Preakness is 211.1, which is 111.1% above the national average. Housing costs are above the national average at an index of 275.7. A single adult needs to earn approximately $92,887 per year to cover basic expenses.