States › New Jersey › Elmwood Park

Is Elmwood Park, NJ expensive to live in?

OKRent takes 27 cents of every $1 people earn here.
🏠 Rent per month (2026)$2,50843% higher than U.S. average
💵 Families earn per year (2026)$109,727about $9,144/month · 26% higher than U.S. average
🔑 House price$483,70045% higher than U.S. average

Rent is higher than in 86% of U.S. cities. A typical house costs about 4.4 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $100,320 a year. That is $48 an hour at a full-time job.

Is rent cheaper than other New Jersey cities?

No. Rent here is more expensive than in most of New Jersey. It is number 193 of 291 cities from cheapest to most expensive.

Elmwood Park
$2,508
Parsippany
$1,994
Lindenwold
$1,444
Secaucus
$3,558
Woodbridge
$2,699
Pleasantville
$2,340
Morristown
$2,735

How much do households earn in Elmwood Park?

Under $25k
11.1%
$25k–50k
18.1%
$50k–100k
31.6%
$100k–150k
19.6%
$150k+
17.7%

Share of households by yearly income. 37.3% of households earn $100,000 or more.

Rent by apartment size in Elmwood Park

SizeElmwood ParkU.S. average
1 bedroom$1,975$1,324
2 bedrooms$2,127$1,509
3 bedrooms$2,526$1,698
4 bedrooms$3,500+$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Elmwood Park overall?

Everyday prices in New Jersey overall are 9% above the U.S. average (index 108.8, U.S. = 100).

Housing
134
Goods (food, clothes…)
107
Utilities
114
Other services
104
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Elmwood Park, so the New Jersey figure is shown.

Taxes and bills in Elmwood Park

🏛️ Property tax$9,924a year · 2.05% of home value · U.S. $3,119
⚡ Electric bill$177a month (typical) · U.S. $156

Life in Elmwood Park

Commute to work27.1 minU.S.: 26.4 min
College degree35.1%U.S.: 35.7%
Own their home57.5%U.S.: 65.2%
Below poverty line11.6%U.S.: 12.5%
Unemployment7.4%U.S.: 5.2%

Is it cheaper to rent or buy in Elmwood Park?

Renting is cheaper right now: about $848 a month less.

Renting
$2,508
Owning
$3,356

Owning assumes a typical $483,700 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $48,370 for the down payment.

Frequently asked questions

What is the average rent in Elmwood Park, NJ?

Renting in Elmwood Park costs a median of about $2,508 a month in 2026, including utilities. The New Jersey median is $2,240.

How much do I need to make to live in Elmwood Park?

To keep rent under 30% of income, you need about $100,320 a year, or $48 an hour at a full-time job.

Is Elmwood Park cheap or expensive?

Elmwood Park is rated OK: rent takes 27.4% of the typical household income of $109,727. It ranks 193rd cheapest of 291 New Jersey cities we track.

How much are property taxes in Elmwood Park?

The median homeowner in Elmwood Park pays $9,924 a year in property taxes, about 2.05% of the median home value.

Is Elmwood Park more expensive than the national average?

Overall prices in New Jersey are 9% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Elmwood Park?

The median home value in Elmwood Park is $483,700, about 4.4 times the typical yearly household income.

21,412 people live in Elmwood Park. Numbers are typical (middle) values.