Cost of Living in Montvale

Montvale, is a small borough in Bergen County, known for its suburban charm and proximity to New York City. The cost of living in Montvale is generally higher than the national average, reflecting the overall trend in the region. Housing prices in Montvale 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 Montvale for a 3-bedroom home is approximately $550,000 to $700,000, while a 4-bedroom home may range from $650,000 to over $1,000,000, depending on the aforementioned factors.

Apartment rentals in Montvale also reflect the higher cost of living. A 1-bedroom apartment might rent for between $1,800 and $2,500 per month, while a 2-bedroom apartment could cost between $2,300 and $3,000 per month. Purchasing an apartment or a condo in Montvale can also be quite costly, with prices typically starting around $300,000 and going up to $600,000 or more for a 2-bedroom unit.

When it comes to dining out, Montvale 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 priced between $50 and $75 per person. For utilities, including electricity, heating, cooling, water, and garbage, residents can expect to pay around $150 to $300 per month, depending on the size of the home and usage.

Private school tuition in Montvale can be a significant expense for families. Preschool costs can range from $1,000 to $2,000 per month. Elementary and middle schools may charge tuition ranging from $10,000 to $30,000 per year, while private high schools can cost even more, with some tuitions exceeding $40,000 annually. These costs can vary widely based on the institution's reputation, facilities, and the educational programs offered.