Cost of Living in Hopewell, NJ
Housing
The housing market plays a significant role in determining the cost of living in Hopewell, NJ.
- Housing Index: 118.8 / 100
- Median Home Price is: Data is updating
- Average Rent (2 BR Apartment): $2586 per month
- Average Rent (2 BR House): $2811 per month
Based on the provided data, it appears that Hopewell, NJ is experiencing unusual housing market conditions with a housing index of 118.8, indicating possible instability or a lack of available data. The median home price is 0, suggesting affordability or a need for further investigation into market trends. Also, average rents for 2-bedroom apartments and houses are both at 2586 and 2811 respectively, which might signal a stagnation in rental activity. Prospective movers should consider external factors such as local employment rates and amenities before making decisions.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hopewell, 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 Hopewell, 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 Hopewell is a financially viable option for your relocation.