Cost of Living in Park Ridge
Summary: If you are thinking about moving to Park Ridge, here is an overview of the cost of living there.
Park Ridge, is a small borough located in Bergen County, known for its suburban charm and proximity to New York City. The cost of living in Park Ridge is generally higher than the national average, reflecting the overall trend in the region. Housing prices in Park Ridge 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 Park Ridge is around $600,000 to $700,000. For a 3-bedroom home, prices typically range from $500,000 to $650,000, while 4-bedroom homes can range from $650,000 to $800,000 or more, depending on the property's features and location.
Apartment rentals in Park Ridge also reflect the higher cost of living. A 1-bedroom apartment might rent for between $1,800 and $2,200 per month, while a 2-bedroom apartment could cost between $2,300 and $3,000 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 $600,000 or more for luxury units with more amenities.
Dining out in Park Ridge can cater to a variety of tastes and budgets. 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. For those who enjoy fine dining, there are several upscale restaurants where the cost per person can exceed $100, especially if including wine or cocktails.
Utilities, including electricity, heating, cooling, water, and garbage, for a standard 85m² apartment in Park Ridge, can range from $150 to $250 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 Park Ridge varies by the level of education and the institution. Preschool tuition can range from $10,000 to $20,000 per year. Elementary and middle schools can cost between $15,000 and $30,000 annually, while private high schools can be even more expensive, with some tuitions exceeding $35,000 per year. These costs can be higher for schools with specialized programs or prestigious reputations.
| Item | Cost |
|---|---|
| 3-Bedroom Home Purchase | $500,000 - $650,000 |
| 4-Bedroom Home Purchase | $650,000 - $800,000+ |
| 1-Bedroom Apartment Rental | $1,800 - $2,200/month |
| 2-Bedroom Apartment Rental | $2,300 - $3,000/month |
| Apartment Purchase | $300,000 - $600,000+ |
| Inexpensive Restaurant Meal | $15 - $25/person |
| Mid-Range Restaurant 3-Course Meal | $50 - $70/person |
| Utilities (Monthly for 85m² Apartment) | $150 - $250 |
| Internet (Monthly) | $60 - $100 |
| Private Preschool Tuition (Annual) | $10,000 - $20,000 |
| Private Elementary School Tuition (Annual) | $15,000 - $30,000 |
| Private Middle School Tuition (Annual) | $15,000 - $30,000 |
| Private High School Tuition (Annual) | $35,000+ |
About the Author
Betsy Burlingame is one of the founders of BlueBurbia and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and BlueBurbia, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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