Cost of Living in Caldwell

Caldwell, is a borough located in northwestern Essex County. It is a suburban community with a relatively high cost of living compared to the national average, largely due to its proximity to New York City. Housing prices in Caldwell can vary significantly based on the location, size, and condition of the property. As of my knowledge cutoff in early 2023, the median home value in Caldwell is around $500,000. For a 3-bedroom home, prices typically range from $400,000 to $600,000, while 4-bedroom homes can range from $500,000 to $700,000 or more, depending on the specific features and location within Caldwell.

Apartment rentals in Caldwell 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 can cost between $2,000 and $2,500 per month. Apartment purchases, on the other hand, can vary widely, with condos and townhomes starting in the $300,000 range and going up to $500,000 or more for luxury units with more amenities.

When it comes to dining out, Caldwell 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 $70 per person. Utilities, including electricity, heating, cooling, water, and garbage, for a standard 85m² apartment, typically range from $150 to $250 per month, depending on usage and the time of year.

Private school tuition in Caldwell can be a significant expense for families. Preschool (or kindergarten) can cost anywhere from $10,000 to $20,000 per year. Elementary schools, middle schools, and high schools can have tuition that ranges from $10,000 to $30,000 per year, depending on the institution's reputation and the level of education provided. Some of the most prestigious private schools in the area may charge even higher tuition fees.