Cost of living in Red Bank
Red Bank, NJ, is a vibrant town known for its cultural scene and proximity to New York City. Understanding the cost of living here is crucial for anyone considering a move or planning to budget effectively.
This guide provides a detailed breakdown of expenses in Red Bank, covering everything from dining and groceries to housing and transportation.
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 $15 and $50.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $80, with prices ranging from $55 to $125.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $9.65, with a range between $9 and $14.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $4 to $8, imported beer $5 to $10, cappuccino $4.9 to $9, and Coke/Pepsi $2 to $4.
Grocery Prices
- Milk - Milk is priced between $1 and $1.85 per liter, averaging $1.37.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $2.2 and $5.51, with an average price of $3.94.
- Eggs (Dozen) - A dozen eggs range from $2.5 to $6, averaging $4.14.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.2 to $8.82 per kg, while oranges range from $1.65 to $13.21 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.66 and $4.41 per kg, and lettuce costs $3 to $3.08 per head.
Transportation
- Fuel (Gasoline) - Gasoline is priced between $0.81 and $1.06 per liter.
- Taxi Fares - Taxi fares start at $3, with a cost of $1.55 to $3.11 per km and $22 to $32 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre averages $3000.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $2500.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $141.67 and $425, averaging $257.49.
- Internet - Internet services range from $49 to $120, with an average cost of $70.5.
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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Childcare
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"Key Takeaways"
Red Bank, NJ, offers a diverse range of living costs, with dining and housing being significant expenses.
While restaurant prices can vary widely, grocery costs remain relatively stable.
Transportation costs are moderate, with gasoline prices being quite reasonable compared to other regions.
Conclusion
Overall, Red Bank, NJ, presents a mixed cost of living landscape. While housing and dining can be on the higher side, other expenses like groceries and transportation are more manageable.
Prospective residents should consider these factors when planning their budget, especially if they are moving from areas with different cost structures.