Cost of Living in Watchung

Watchung, is a small affluent borough located in Somerset County, known for its picturesque landscapes and high quality of life. The cost of living in Watchung is significantly higher than the national average, primarily due to the upscale housing market and the overall affluence of the area. Housing prices in Watchung vary depending on the location, size, and condition of the property. As of my knowledge cutoff in early 2023, the median home value in Watchung is well above the national average, with 3-bedroom homes typically starting around $550,000 and can go up to $800,000 or more, depending on the specific features and location. For 4-bedroom homes, prices are even higher, often ranging from $650,000 to well over $1 million for luxury properties with extensive amenities.

Apartment rentals in Watchung are also on the pricier side, with a 1-bedroom apartment generally starting at around $1,500 per month, while larger 2 or 3-bedroom apartments can cost upwards of $2,500 to $3,500 per month or more. Apartment purchases are less common, as the area is predominantly composed of single-family homes, but condos and townhouses that do go on sale can range from $300,000 to $600,000 or more, depending on the size and location. Dining out in Watchung can also be a costly affair, with mid-range restaurants typically charging between $50 and $70 for a three-course meal for two people, while upscale dining experiences can exceed $100 per person.

Utilities, including electricity, heating, cooling, water, and garbage services, for a standard 85m² apartment in Watchung, can average between $250 and $350 per month, depending on usage and the time of year. Private school tuition varies widely based on the institution and the level of education. Preschools in the area, for example, can range from $1,000 to $2,000 per month. Elementary and middle schools can cost anywhere from $10,000 to $25,000 per year, while private high schools can be even more expensive, with annual tuition fees ranging from $15,000 to $40,000 or more, depending on the school's prestige and program offerings.