States › New Jersey › Towaco

Is Towaco, NJ expensive to live in?

CheapRent takes 12 cents of every $1 people earn here.
🏠 Rent per month (2026)$2,15223% higher than U.S. average
💵 Families earn per year (2026)$221,778about $18,482/month · 155% higher than U.S. average
🔑 House price$701,300111% higher than U.S. average

Rent is higher than in 75% of U.S. cities. Household incomes are higher than in 98% of U.S. cities. A typical house costs about 3.2 years of household income. Commutes are long, about 35.7 minutes each way. Most homes (93%) are owned, so rentals can be hard to find. It is a highly educated city: 73.3% of adults have a college degree.

How much money do I need?

To rent here comfortably, you should earn about $86,080 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 131 of 291 cities from cheapest to most expensive.

Towaco
$2,152
Cape May Court House
$1,577
Neshanic Station
$2,366
Somerdale
$1,225
Union Beach
$2,832
Norwood
$2,311
Leisure Village
$3,051

How much do households earn in Towaco?

Under $25k
6.7%
$25k–50k
18.6%
$50k–100k
13.7%
$100k–150k
9.7%
$150k+
52.5%

Share of households by yearly income. 62.2% of households earn $100,000 or more.

How expensive is Towaco 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 Towaco, so the New Jersey figure is shown.

Taxes and bills in Towaco

🏛️ Property tax$10,000+a year · 1.43% of home value · U.S. $3,119
⚡ Electric bill$152a month (typical) · U.S. $156

Life in Towaco

Commute to work35.7 minU.S.: 26.4 min
College degree73.3%U.S.: 35.7%
Own their home93%U.S.: 65.2%
Below poverty line2.5%U.S.: 12.5%
Unemployment2%U.S.: 5.2%

Is it cheaper to rent or buy in Towaco?

Renting is cheaper right now: about $2,714 a month less.

Renting
$2,152
Owning
$4,866

Owning assumes a typical $701,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $70,130 for the down payment.

Frequently asked questions

What is the average rent in Towaco, NJ?

Renting in Towaco costs a median of about $2,152 a month in 2026, including utilities. The New Jersey median is $2,240.

How much do I need to make to live in Towaco?

To keep rent under 30% of income, you need about $86,080 a year, or $41 an hour at a full-time job.

Is Towaco cheap or expensive?

Towaco is rated Cheap: rent takes 11.6% of the typical household income of $221,778. It ranks 131st cheapest of 291 New Jersey cities we track.

How much are property taxes in Towaco?

The median homeowner in Towaco pays $10,000+ a year in property taxes, about 1.43% of the median home value.

Is Towaco 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 Towaco?

The median home value in Towaco is $701,300, about 3.2 times the typical yearly household income.

5,612 people live in Towaco. Numbers are typical (middle) values.