Cost of Living in Ridgewood
Summary: If you are thinking about moving to Ridgewood, here is an overview of the cost of living there.
Ridgewood, is a suburban village in Bergen County known for its high quality of life, excellent schools, and a vibrant downtown area. The cost of living in Ridgewood is generally higher than the national average, reflecting the desirability of the area and its proximity to New York City. Housing costs in Ridgewood are a significant factor in the overall cost of living. As of my knowledge cutoff in 2023, the median home value for a 3-bedroom home in Ridgewood is approximately $700,000 to $900,000, while a 4-bedroom home can range from $900,000 to well over $1 million, depending on the location, size, and condition of the property.
Apartment rentals in Ridgewood can also be quite costly. A 1-bedroom apartment typically rents for around $1,800 to $2,500 per month, while a 2-bedroom apartment can range from $2,500 to $3,500 or more per month. Apartment purchases vary widely based on size, location, and amenities, but buyers should expect to pay a premium for condominiums or co-ops in this sought-after area.
When it comes to dining out, Ridgewood offers a variety of restaurants ranging from casual eateries to upscale dining experiences. A meal at an inexpensive restaurant might cost around $15 to $25 per person, while a three-course meal at a mid-range restaurant could be between $50 and $75 per person, excluding drinks and gratuity.
Utilities, including electricity, heating, cooling, water, and garbage, can cost around $200 to $300 per month for a standard family home, though this can fluctuate based on usage and the time of year. Internet and cable services typically add another $100 to $150 to monthly expenses.
Private school tuition in Ridgewood varies depending on the institution and the level of education. Preschool tuition can range from $10,000 to $20,000 per year. Elementary and middle schools can cost between $20,000 and $30,000 annually, while private high schools can be even more expensive, with some tuitions exceeding $40,000 per year. These costs reflect the high demand for private education and the quality of the schools in the area.
| Item | Cost |
|---|---|
| 3-Bedroom Home Purchase | $700,000 - $900,000 |
| 4-Bedroom Home Purchase | $900,000 - $1,000,000+ |
| 1-Bedroom Apartment Rental | $1,800 - $2,500 / month |
| 2-Bedroom Apartment Rental | $2,500 - $3,500 / month |
| Apartment Purchase | Varies widely |
| Inexpensive Restaurant Meal | $15 - $25 |
| Mid-Range Restaurant 3-Course Meal | $50 - $75 |
| Utilities (Monthly) | $200 - $300 |
| Internet and Cable | $100 - $150 / month |
| Private Preschool Tuition (Annual) | $10,000 - $20,000 |
| Private Elementary/Middle School Tuition (Annual) | $20,000 - $30,000 |
| Private High School Tuition (Annual) | $30,000 - $40,000+ |
About the Author
Joshua Wood, LPC is one of the Founders of BlueBurbia and serves as Co-President of Expat Exchange. Prior to Expat Exchange and BlueBurbia, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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