Cost of Living in Blackwood, NJ
Housing
The housing market plays a significant role in determining the cost of living in Blackwood, NJ.
- Housing Index: 118.8 / 100
- Median Home Price is: $300,000
- Average Rent (2 BR Apartment): $1886 per month
- Average Rent (2 BR House): $2050 per month
When considering a move to Blackwood, NJ, it’s important to note the housing index stands at 118.8, indicating that the cost of living is slightly above the national average. The median home price of 300000 makes buying a property a potentially viable long-term investment. Renters looking for space can expect to pay around 1886 for a 2-bedroom apartment or 2050 for a 2-bedroom house. Given these values, it may be wise to weigh the benefits of renting versus purchasing depending on your financial situation. Keep in mind that local amenities and future growth are also critical factors to buy or rent.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Blackwood, NJ.
- Electricity Price: $19.88 USD (median by state)
- Natural Gas Price: $14.01 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $261 per month
Living in Blackwood, NJ could entail higher utility costs. Electricity costs sit at $19.88, while natural gas is priced at $14.01 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $261 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Blackwood is a financially viable option for your relocation.