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)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Monmouth County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Monmouth County ranks #3,085 of 3,142 counties for affordability (bottom 2%)
Sourced county brief
Monmouth County median home value reaches $606,100 in ACS estimate
The median home value in Monmouth County is $606,100, which is higher than the New Jersey unweighted county mean of $430,014. According to the 2020-2024 ACS 5-Year Estimates, the median gross rent in the county is $1,827 per month, exceeding the state unweighted county mean of $1,635. For renter households, the median income is $62,592. The official ACS B25071 gross rent as a percentage of household income (GRAPI) is 31.6%. This canonical rent-to-income percentage is 0.2 percentage points higher than the New Jersey unweighted county mean of 31.4%. Median selected monthly owner costs for all owner-occupied units are $2,406, compared to the state unweighted county mean of $2,126. These metrics represent the official statistical record for the county during the specified five-year survey period. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Monmouth County
Affordability Verdict
ACS B25071 estimates median gross rent at 31.6% of renter household income in Monmouth County, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,827 per month; median selected monthly owner costs are $2,406. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $73,080 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The New Jersey unweighted mean of county median rents is $1,635 per month. Monmouth County's $1,827 median is 11.7% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Monmouth County
Rent Burden
17.6%
of gross income
Max Housing (28% Rule)
$2,913
per month
Owner Cost Burden
23.1%
of gross income
The median home in Monmouth County may be a stretch
Median home value is $606,100. Estimated monthly cost: $4,839 vs. your max of $2,913.
Rent Affordability Guide
Income Needed Calculator
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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 (2020-2024). Data is informational only and is not personalized financial advice.
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