Cost of Living in Mountain Lakes
Summary: If you are thinking about moving to Mountain Lakes, here is an overview of the cost of living there.
Mountain Lakes, is known for its high quality of life, excellent schools, and beautiful landscapes, which contribute to its relatively high cost of living. Housing in Mountain Lakes is quite expensive, reflecting the desirability of the area. The price for a 3-bedroom home typically ranges from $600,000 to over $1 million, depending on the location, size, and condition of the property. A 4-bedroom home in Mountain Lakes can cost anywhere from $700,000 to well over $1.2 million. These prices are significantly higher than national averages, indicating the premium nature of the local real estate market.
Apartment rentals in Mountain Lakes are also on the higher end. A 1-bedroom apartment can cost between $1,500 and $2,500 per month, while a 2-bedroom apartment can range from $2,000 to $3,500 per month. For those interested in purchasing an apartment or a condo, prices can vary widely based on size, location, and amenities, but it's not uncommon to see prices starting at around $300,000 and going up to $600,000 or more for luxury units.
Dining out in Mountain Lakes can cater to a variety of budgets, but on average, 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 $75 per person. High-end dining experiences will, of course, come with a higher price tag.
Utilities, including electricity, heating, cooling, water, and garbage, for a standard 85m² apartment in Mountain Lakes, can range from $150 to $300 per month, depending on usage and the time of year. Internet services typically add another $60 to $100 to monthly expenses.
Private school tuition in Mountain Lakes varies by the level of education. Preschool costs can range from $1,000 to $2,000 per month. Elementary schools might charge between $10,000 and $25,000 per year, while middle and high schools can cost anywhere from $15,000 to $30,000 annually, with some of the more prestigious institutions possibly exceeding these figures.
| Item | Cost |
|---|---|
| 3-Bedroom Home Purchase | $600,000 - $1,000,000+ |
| 4-Bedroom Home Purchase | $700,000 - $1,200,000+ |
| 1-Bedroom Apartment Rental | $1,500 - $2,500 / month |
| 2-Bedroom Apartment Rental | $2,000 - $3,500 / month |
| Apartment Purchase | $300,000 - $600,000+ |
| Inexpensive Restaurant Meal | $15 - $25 |
| Mid-Range Restaurant 3-Course Meal | $50 - $75 |
| Utilities (Monthly for 85m² Apartment) | $150 - $300 |
| Internet (Monthly) | $60 - $100 |
| Private Preschool Tuition (Monthly) | $1,000 - $2,000 |
| Private Elementary School Tuition (Yearly) | $10,000 - $25,000 |
| Private Middle School Tuition (Yearly) | $15,000 - $30,000 |
| Private High School Tuition (Yearly) | $15,000 - $30,000+ |
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.
New Jersey Forum
Talk with other digital nomads and expats in New Jersey on our New Jersey forum - meet people, get advice and help others.
Contribute
Help others in New Jersey by answering questions about the challenges and adventures of living in New Jersey.
