Cost of Living in Monmouth County, New Jersey
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Monmouth County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Monmouth County ranks #1,997 of 3,144 counties for affordability (bottom 36%)
Data Story
About Cost of Living in Monmouth County, New Jersey
Monmouth's affluence eases housing costs
Monmouth County achieves a 17.3% rent-to-income ratio—well below New Jersey's 19.1% average—powered by a median household income of $122,727 and median rent of $1,771. This combination of strong earnings and relatively moderate rents makes Monmouth one of New Jersey's most affordable counties for renters.
Monmouth ranks among Jersey's best
At 17.3%, Monmouth's rent-to-income ratio ranks among New Jersey's lowest, significantly outperforming the state average of 19.1%. The county's high median income of $122,727 is the real affordability engine, allowing residents to handle coastal rents without strain.
Strongest income in Jersey's central coast
Monmouth's median income of $122,727 exceeds Middlesex ($109,028), Hudson ($90,032), and Ocean ($86,411), while its median rent of $1,771 stays competitive. This combination makes Monmouth the central-Jersey coastal option for affluent renters seeking affordability.
Coastal living without the squeeze
Renters pay $1,771 monthly while homeowners face $2,364, with the median household income of $122,727 easily supporting both. At 17.3% of income, Monmouth rents consume the smallest share of any county in this analysis, leaving room for savings and lifestyle choices.
Best coastal affordability in Jersey
Monmouth offers the rare combination of coastal New Jersey living with strong affordability—17.3% rent-to-income ratio and median income of $122,727. If you're seeking Jersey shore proximity without financial strain, Monmouth's towns provide the best balance statewide.
Cost of Living Advisory: Monmouth County
Affordability Verdict
For renters in Monmouth County, the market is affordable. Expect to pay around $1,771/month in gross rent, with 31.0% of renter households considered cost-burdened.
Rent vs. Own
Renters in Monmouth County pay $1,771/month on average, compared to $2,364/month for homeowners. This market favors renters by about 25%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $70,840/year. For owner costs at the 28% rule, the required income is roughly $101,314/year. With a median household income of $122,727, most households can comfortably afford rent here. Notably, 31.0% of renter households in Monmouth County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Hunterdon County where rent averages $1,707/month, Monmouth County is approximately 4% more expensive.
Affordability Calculator
See how your income compares to housing costs in Monmouth County
Rent Burden
17.3%
of gross income
Max Housing (28% Rule)
$2,864
per month
Owner Cost Burden
23.1%
of gross income
The median home in Monmouth County may be a stretch
Median home value is $566,500. Estimated monthly cost: $4,523 vs. your max of $2,864.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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