Cost of Living in Wood-Ridge
Summary: If you are thinking about moving to Wood-Ridge, here is an overview of the cost of living there.
Wood-Ridge, is a borough in Bergen County with a relatively high cost of living compared to the national average, largely due to its proximity to New York City. Housing prices in Wood-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 Wood-Ridge is around $450,000 to $500,000. For a 3-bedroom home, prices typically range from $400,000 to $550,000, while 4-bedroom homes can cost anywhere from $500,000 to $650,000 or more, depending on the property's features and location within the borough.
Apartment rentals in Wood-Ridge also reflect the high demand for housing in the area. A 1-bedroom apartment might rent for between $1,500 and $2,000 per month, while a 2-bedroom apartment can range from $2,000 to $2,500 or more. Apartment purchases, on the other hand, can vary widely, with condos and townhouses starting at around $300,000 and going up to $500,000 or more for luxury units with more amenities.
When it comes to dining out, Wood-Ridge offers a variety of restaurants ranging from casual eateries to more upscale dining experiences. A meal at an inexpensive restaurant might cost around $15 to $20 per person, while a three-course meal at a mid-range restaurant could be priced at $50 to $70 per person, excluding drinks and gratuity.
Utilities, including electricity, heating, cooling, water, and garbage, for a standard 85m² apartment in Wood-Ridge, can cost around $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 Wood-Ridge can be a significant expense for families. Preschool (or kindergarten) can range from $10,000 to $20,000 per year. Elementary schools might charge between $10,000 and $25,000 per year, while middle and high schools can cost even more, with some tuitions reaching upwards of $30,000 to $40,000 annually. These costs can vary greatly depending on the institution's reputation, facilities, and the educational programs offered.
| Item | Cost |
|---|---|
| 3-bedroom home purchase | $400,000 - $550,000 |
| 4-bedroom home purchase | $500,000 - $650,000+ |
| 1-bedroom apartment rental | $1,500 - $2,000/month |
| 2-bedroom apartment rental | $2,000 - $2,500+/month |
| Apartment purchase | $300,000 - $500,000+ |
| Inexpensive restaurant meal | $15 - $20/person |
| Mid-range restaurant 3-course meal | $50 - $70/person |
| Monthly utilities | $150 - $250 |
| Internet (monthly) | $60 - $100 |
| Private preschool tuition (annual) | $10,000 - $20,000 |
| Private elementary school tuition (annual) | $10,000 - $25,000 |
| Private middle school tuition (annual) | $10,000 - $30,000 |
| Private high school tuition (annual) | $20,000 - $40,000+ |
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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