Cost of Living in River Edge

River Edge, is a small borough in Bergen County with a reputation for its family-friendly atmosphere and high quality of life. The cost of living in River Edge is generally higher than the national average, reflecting the overall trend in the Northeastern United States, particularly in the suburbs of New York City. Housing costs are a significant component of the overall cost of living in this area. For those looking to purchase a home, the prices can vary widely depending on the size, location, and condition of the property. As of my knowledge cutoff in early 2023, the median home value in River Edge is around $500,000 to $600,000. A typical 3-bedroom home might range from $450,000 to $650,000, while a 4-bedroom home could be priced between $550,000 and $750,000 or more, depending on various factors.

Apartment rentals in River Edge also reflect the higher cost of living. A 1-bedroom apartment might rent for between $1,500 and $2,000 per month, while a 2-bedroom apartment could cost between $2,000 and $2,500 per month or more. Apartment purchases, on the other hand, can vary greatly, but a condo or a townhouse might be priced anywhere from $300,000 to $500,000 or more, depending on the size and amenities offered. When it comes to dining out, River Edge offers a variety of restaurants ranging from casual eateries to upscale dining experiences. A typical meal at a mid-range restaurant might cost around $15 to $30 per person, while a three-course meal at a higher-end restaurant could be $50 per person or more.

Utilities, including electricity, heating, cooling, water, and garbage services, can cost around $200 to $300 per month for a standard family home, but this can fluctuate based on usage and the time of year. Private school tuition in River Edge varies widely depending on the institution and the level of education. Preschool costs can range from $10,000 to $20,000 per year. Elementary and middle schools might charge anywhere from $5,000 to $25,000 per year, and private high schools can be even more expensive, with tuition ranging from $10,000 to $40,000 or more annually. It's important to note that these figures are approximate and can change based on the specific school and any additional fees or costs associated with enrollment.