salaryRent is lower than in 56% of U.S. cities. Household incomes are higher than in 94% of U.S. cities. A typical house costs about 3.4 years of household income. Most homes (92.9%) are owned, so rentals can be hard to find. It is a highly educated city: 56.8% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $61,040 a year. That is $29 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 28 of 291 cities from cheapest to most expensive.
How much do households earn in Oakland?
Share of households by yearly income. 62.9% of households earn $100,000 or more.
Rent by apartment size in Oakland
| Size | Oakland | U.S. average |
|---|---|---|
| 1 bedroom | $910 | $1,324 |
| 2 bedrooms | $1,582 | $1,509 |
| 3 bedrooms | $1,853 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Oakland 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 Oakland, so the New Jersey figure is shown.
Taxes and bills in Oakland
Life in Oakland
Is it cheaper to rent or buy in Oakland?
Renting is cheaper right now: about $2,577 a month less.
Owning assumes a typical $591,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $59,130 for the down payment.
Frequently asked questions
What is the average rent in Oakland, NJ?
Renting in Oakland costs a median of about $1,526 a month in 2026, including utilities. The New Jersey median is $2,240.
How much do I need to make to live in Oakland?
To keep rent under 30% of income, you need about $61,040 a year, or $29 an hour at a full-time job.
Is Oakland cheap or expensive?
Oakland is rated Cheap: rent takes 10.5% of the typical household income of $174,737. It ranks 28th cheapest of 291 New Jersey cities we track.
How much are property taxes in Oakland?
The median homeowner in Oakland pays $10,000+ a year in property taxes, about 1.69% of the median home value.
Is Oakland 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 Oakland?
The median home value in Oakland is $591,300, about 3.4 times the typical yearly household income.
12,768 people live in Oakland. Numbers are typical (middle) values.