Cost of Living in Mendham
Summary: If you are thinking about moving to Mendham, here is an overview of the cost of living there.
Mendham, is known for its picturesque landscapes, historic charm, and affluent community. The cost of living in Mendham is significantly higher than the national average, reflecting the quality of life and amenities available in this suburban town. Housing costs are a major factor in the overall cost of living, with prices for homes varying depending on size, location, and condition. As of my knowledge cutoff in early 2023, the median home value in Mendham is well above the national average, with 3-bedroom homes typically starting around $600,000 and can go well over $1 million, depending on the property's features and location. For 4-bedroom homes, the prices are even higher, often starting at around $700,000 and extending well into the multi-million dollar range for luxury properties with extensive grounds and amenities.
Apartment rentals in Mendham are less common than home ownership, but for those looking to rent, a 1-bedroom apartment might start around $1,500 per month, with larger apartments commanding higher rents. Apartment purchases, on the other hand, can vary widely based on the size and location of the unit, with prices often starting in the $300,000 range and going up from there. Dining out in Mendham can also reflect the town's upscale nature, with casual dining restaurants starting at about $15-20 per person for a meal, while fine dining experiences can easily exceed $50 per person before drinks, tax, and tip.
Utilities in Mendham, including electricity, heating, cooling, water, and garbage services, can cost around $250 to $400 per month, depending on the size of the home and usage. This is a rough estimate and can fluctuate based on individual consumption patterns and seasonal changes. Private school tuition is another significant expense for families in Mendham. Preschool costs can range from $10,000 to $20,000 per year, while elementary, middle, and high school tuitions can vary widely, often between $20,000 and $40,000 per year, depending on the institution's reputation and the level of education provided.
| Item | Cost |
|---|---|
| 3-Bedroom Home Purchase | $600,000 - $1,000,000+ |
| 4-Bedroom Home Purchase | $700,000 - Multi-million |
| Apartment Rental (1-bedroom) | $1,500+ per month |
| Apartment Purchase | $300,000+ |
| Casual Dining Restaurant Meal | $15 - $20 per person |
| Fine Dining Restaurant Meal | $50+ per person |
| Utilities (Monthly) | $250 - $400 |
| Private Preschool Tuition (Annual) | $10,000 - $20,000 |
| Private Elementary School Tuition (Annual) | $20,000 - $40,000 |
| Private Middle School Tuition (Annual) | $20,000 - $40,000 |
| Private High School Tuition (Annual) | $20,000 - $40,000 |
About the Author
Joshua Wood, LPC is one of the Founders of BlueBurbia and serves as Co-President of Expat Exchange. Prior to Expat Exchange and BlueBurbia, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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