Cost of Living in Bernardsville

Bernardsville, is a borough in Somerset County known for its affluent community and picturesque landscapes. The cost of living in Bernardsville is significantly higher than the national average, reflecting the area's desirability and high-income demographics. Housing prices in Bernardsville vary depending on the location, size, and condition of the property. As of my knowledge cutoff in early 2023, the median home value in Bernardsville is well above the national average. For a 3-bedroom home, prices typically start around $500,000 and can go up to over $1 million, depending on the property's features and location. A 4-bedroom home in Bernardsville can range from approximately $600,000 to well over $1.5 million. These prices are indicative of the premium real estate market in the area.

Apartment rentals in Bernardsville also reflect the upscale nature of the borough. A 1-bedroom apartment can cost anywhere from $1,500 to $2,500 per month, while larger 2-bedroom apartments may range from $2,500 to $3,500 or more. Apartment purchases are less common, as the housing market is predominantly composed of single-family homes, but condos and townhouses that do go on sale can range from $300,000 to $800,000 or more, depending on the size and amenities offered.

Dining out in Bernardsville can cater to a range of budgets, but many restaurants are on the higher end of the spectrum. A meal at a mid-range restaurant can cost between $15 and $30 per person, while a dinner for two at a higher-end establishment can easily exceed $100, not including wine or drinks. Utilities, including electricity, heating, cooling, water, and garbage, for a standard 85m² apartment, can cost around $250 to $350 per month, depending on usage and the time of year.

Private school tuition in Bernardsville is another significant expense for families. Preschool costs can vary widely, but on average, you might expect to pay between $10,000 and $20,000 per year for a private preschool. 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 reaching upwards of $40,000 per year. These costs reflect the premium educational opportunities available in the area, with many schools boasting small class sizes, advanced curricula, and a wide range of extracurricular activities.