Cost of Living in Rumson
Summary: If you are thinking about moving to Rumson, here is an overview of the cost of living there.
Rumson, is known for its affluent community and picturesque suburban setting. The cost of living in Rumson is significantly higher than the national average, reflecting the upscale nature of this coastal town. Housing prices in Rumson are among the most substantial expenses for residents. As of my knowledge cutoff in early 2023, the median home value in Rumson is well above $1 million. For 3-bedroom homes, prices typically start around $700,000 and can go up to several million dollars depending on the property's size, location, and amenities. 4-bedroom homes are even more costly, with starting prices around $1 million and can exceed several million for luxury estates with expansive grounds and waterfront views.
Apartment rentals in Rumson are not as common as home ownership, but for those available, a 1-bedroom apartment can start at around $1,500 per month, with larger apartments commanding higher rents. Apartment purchases are also on the higher end, with prices depending on the location, size, and condition of the unit. Dining out in Rumson can cater to a range of budgets, but many restaurants are upscale, with dinner for two at a mid-range restaurant costing around $75 to $100 without alcoholic beverages. Utilities for a standard household can average between $250 and $400 per month, depending on usage and the time of year, with winters typically requiring more heating expenses.
Private school tuition in Rumson varies widely based 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 $15,000 and $30,000 annually, while high school tuition can be even higher, often exceeding $30,000 per year. These costs reflect the premium educational facilities and personalized attention that private schools in the Rumson area are known for. It's important to note that these figures are approximate and can vary significantly based on the specific school and any additional fees or contributions required.
| Item | Cost |
|---|---|
| 3-Bedroom Home Purchase | $700,000 - Several Million |
| 4-Bedroom Home Purchase | $1 Million - Several Million |
| 1-Bedroom Apartment Rental | From $1,500/month |
| Apartment Purchase | Varies |
| Dinner for Two (Mid-Range Restaurant) | $75 - $100 |
| Monthly Utilities | $250 - $400 |
| Private Preschool Tuition (Annual) | $10,000 - $20,000 |
| Private Elementary School Tuition (Annual) | $15,000 - $30,000 |
| Private Middle School Tuition (Annual) | $15,000 - $30,000 |
| Private High School Tuition (Annual) | Over $30,000 |
About the Author
Betsy Burlingame is one of the founders of BlueBurbia and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and BlueBurbia, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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