Cost of living in Princeton
Princeton, NJ, is a vibrant city known for its prestigious university and rich cultural heritage. Understanding the cost of living here is crucial for potential residents and students alike.
This guide provides a detailed breakdown of expenses, including housing, dining, transportation, and more, to help you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $20 on average, with a range between $6.6 and $40.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $80, with prices ranging from $50 to $140.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $15, with a range between $10 and $17.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $6 to $10, imported beer $4.5 to $12, cappuccino $4 to $8, and Coke/Pepsi $1.99 to $3.
Grocery Prices
- Milk - Milk is priced between $0.92 and $1.31 per liter, averaging $1.08.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $2.19 and $5.51, with an average price of $4.04.
- Eggs (Dozen) - A dozen eggs range from $2.99 to $5, averaging $4.23.
- Fruits (e.g., Apples, Oranges) - Apples cost $4.41 to $11.02 per kg, while oranges range from $3.31 to $8.82 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.07 and $4.41 per kg, and lettuce costs $1.07 to $4 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs $1.6.
- Monthly Pass - A monthly pass for public transport is priced at $199.
- Fuel (Gasoline) - Gasoline is priced between $0.82 and $1.06 per liter.
- Taxi Fares - Taxi fares start at $6, with a cost of $2.43 per km and $42 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $2300 to $3300, averaging $2700.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1800 to $2100, averaging $1925.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $3500 to $6600, averaging $4650.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $2700 to $3700, averaging $3125.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $4305.56 to $6888.9, averaging $5597.23.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $3229.17 to $3713.55, averaging $3471.36.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $150 and $300, averaging $180.
- Internet - Internet services range from $29 to $100, with an average cost of $57.33.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Princeton offers a diverse range of dining options, from affordable casual meals to upscale dining experiences.
Grocery prices in Princeton are relatively high, with significant variation in the cost of basic items like bread and eggs.
Transportation costs are moderate, with affordable public transport options and competitive fuel prices.
Housing in Princeton is expensive, particularly in the city centre, reflecting its desirability and proximity to amenities.
Utilities and internet services are reasonably priced, contributing to the overall cost of living.
Conclusion
Living in Princeton, NJ, comes with a higher cost of living, especially in terms of housing and dining.
However, the city's vibrant culture, educational opportunities, and quality of life make it a desirable place to live.
Prospective residents should budget carefully, considering the high costs of housing and groceries, while taking advantage of the city's amenities and services.