Cost of Living in Ramsey
Summary: If you are thinking about moving to Ramsey, here is an overview of the cost of living there.
Ramsey, is a borough in Bergen County with a relatively high cost of living compared to the national average, reflecting the general cost of living in the New York metropolitan area. Housing prices in Ramsey vary depending on the location, size, and condition of the property. As of my knowledge cutoff in early 2023, the median home value in Ramsey 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 over $800,000, with some properties exceeding this range, especially for new construction or homes with premium features.
Apartment rentals in Ramsey 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 can range from $2,300 to $3,000 or more per month. Apartment purchases, on the other hand, can vary widely based on the location, amenities, and size of the unit. A condo or townhouse might start at around $300,000 and can go up to $600,000 or more for a luxury unit with multiple bedrooms and high-end amenities.
When it comes to dining out, Ramsey 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 between $50 and $70 per person, not including drinks, tax, or tip. Utilities, including electricity, heating, cooling, water, and garbage, for a standard 85m² apartment, can cost around $150 to $250 per month, depending on usage and the time of year.
Private school tuition in Ramsey can be a significant expense for families. Preschool costs can range from $1,000 to $2,000 per month, depending on the program's quality and duration. Elementary and middle schools can cost between $10,000 and $30,000 per year, while private high schools can range from $15,000 to over $40,000 per year, with some of the more prestigious institutions being at the higher end of the spectrum.
| Item | Cost |
|---|---|
| 3-Bedroom Home Purchase | $500,000 - $650,000 |
| 4-Bedroom Home Purchase | $650,000 - $800,000+ |
| 1-Bedroom Apartment Rental | $1,800 - $2,500/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 |
| Private Preschool Tuition (Monthly) | $1,000 - $2,000 |
| Private Elementary School Tuition (Yearly) | $10,000 - $30,000 |
| Private Middle School Tuition (Yearly) | $10,000 - $30,000 |
| Private High School Tuition (Yearly) | $15,000 - $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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