Cost of Living in Demarest

Demarest, is a small affluent borough located in Bergen County, known for its high quality of life, excellent schools, and proximity to New York City. The cost of living in Demarest is significantly higher than the national average, reflecting the desirability of the area and the affluence of many of its residents. Housing costs in Demarest are a major factor in the overall cost of living, with prices for homes being well above the national median.

For those looking to purchase a home, the housing market in Demarest is quite expensive. A 3-bedroom home in Demarest can range from approximately $600,000 to over $1 million, depending on the location, size, and condition of the property. A larger 4-bedroom home can command prices from around $800,000 to well over $2 million. These prices are indicative of the premium real estate market in the area, which is driven by the borough's attractiveness to families and professionals seeking a suburban lifestyle with easy access to New York City.

Apartment rentals in Demarest are also on the higher end. A 1-bedroom apartment can cost anywhere from $1,500 to $2,500 per month, while a 2-bedroom apartment can range from $2,000 to $3,500 per month or more. Apartment purchases are less common in Demarest, as the housing stock is predominantly single-family homes. However, for those available, prices can be quite steep, often exceeding half a million dollars for a 2-bedroom unit.

Dining out in Demarest can vary in cost, but many of the local restaurants cater to an upscale clientele. A meal at a mid-range restaurant can cost between $50 and $100 per person, not including drinks, tax, or tip. For utilities, including electricity, heating, cooling, water, and garbage, residents can expect to pay around $250 to $400 per month, depending on the size of the home and usage.

Private school tuition in Demarest is another significant expense for families. Preschool costs can range from $10,000 to $20,000 per year, depending on the institution. Elementary and middle schools can cost between $20,000 and $35,000 per year, while private high schools can be even more expensive, with tuition fees ranging from $30,000 to $45,000 annually. These costs reflect the high-quality education and facilities that these private institutions offer.