salaryRent is higher than in 73% of U.S. cities. Household incomes are higher than in 94% of U.S. cities. A typical house costs about 4.4 years of household income. Commutes are long, about 31.8 minutes each way. Most homes (75.8%) are owned, so rentals can be hard to find. It is a highly educated city: 67.6% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $84,240 a year. That is $41 an hour at a full-time job.
Is rent cheaper than other New Jersey cities?
Yes. Rent here is cheaper than in most of New Jersey. It is number 119 of 291 cities from cheapest to most expensive.
How much do households earn in New Providence?
Share of households by yearly income. 59.2% of households earn $100,000 or more.
Rent by apartment size in New Providence
| Size | New Providence | U.S. average |
|---|---|---|
| 1 bedroom | $1,928 | $1,324 |
| 2 bedrooms | $2,255 | $1,509 |
| 3 bedrooms | $3,058 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is New Providence overall?
Everyday prices in New Jersey overall are 9% above the U.S. average (index 108.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for New Providence, so the New Jersey figure is shown.
Taxes and bills in New Providence
Life in New Providence
Is it cheaper to rent or buy in New Providence?
Renting is cheaper right now: about $3,236 a month less.
Owning assumes a typical $769,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $76,990 for the down payment.
Frequently asked questions
What is the average rent in New Providence, NJ?
Renting in New Providence costs a median of about $2,106 a month in 2026, including utilities. The New Jersey median is $2,240.
How much do I need to make to live in New Providence?
To keep rent under 30% of income, you need about $84,240 a year, or $41 an hour at a full-time job.
Is New Providence cheap or expensive?
New Providence is rated Cheap: rent takes 14.5% of the typical household income of $174,285. It ranks 119th cheapest of 291 New Jersey cities we track.
How much are property taxes in New Providence?
The median homeowner in New Providence pays $10,000+ a year in property taxes, about 1.30% of the median home value.
Is New Providence 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 New Providence?
The median home value in New Providence is $769,900, about 4.4 times the typical yearly household income.
13,727 people live in New Providence. Numbers are typical (middle) values.