Searching for a new apartment becomes much more challenging if you don’t know just how much it will cost to live in a particular area. Considering average rental costs, utility bills, transportation fees and other factors will help you decide if one apartment community is a better fit than another. Our guide to the cost of living in Somerset offers all the information you need to know if you’re contemplating a move to the area.
How Much Money Can You Make?
Obviously, your salary is a key factor when you’re searching for a new apartment. If you’d like to find a new job when you move, researching Somerset salaries is a good place to start your evaluation of the area. Somerset residents earn a median income of $95,968, with half making less and half making more, according to estimates from City-Data.
Of course, your salary will depend on the type of work you do. Family practice physicians earn an average income of $239,223 per year in New Jersey, according to Salary.com, while human resource generalists make $65,510 and database administrators make $73,773.
Are you a teacher? First-year teachers with bachelor’s degrees earn more than $51,000 in Franklin Township schools, while educators who have 10 years’ experience make $62,599, according to the agreement between the Board of Education and the Education Association.
How Much Does Rent Cost?
Rental costs vary significantly depending on the age, condition, size and location of the apartment. Obviously, you’ll pay more for a brand new luxury apartment than a rental that hasn’t been updated since 1985. Niche.com reports that the median rent in Somerset is $1,643 per month, although that site doesn’t note if the figure is for a one- or two-bedroom apartment.
What About Transportation?
Unless you’re lucky enough to live around the corner from work, transportation costs can consume a healthy chunk of your monthly budget. Fortunately, Somerset is close to many business and industrial centers in New Jersey and is particularly convenient to New Brunswick, NJ. In fact, you can reach the city in just 10 minutes. If you happen to work at Rutgers University, a hospital or one of the city’s other businesses, you may only need to buy gas once a week or less.
Do you work in Manhattan? You’ll pay about $13.75 to travel through the Holland Tunnel during peak times of the day and $11.75 during off-peak hours. Train service to New York’s Penn Station is available in New Brunswick at New Jersey Transit’s Jersey Avenue or New Brunswick Stations. You’ll pay about $12 per day to park in the lot at the train station. A one-way ticket during rush hour will cost you about $14 from New Brunswick. Monthly passes are also available. New Jersey Transit also offers bus service throughout New Jersey and to New York and Philadelphia. Fares vary depending on the length of your trip.
How Expensive Is Childcare?
Childcare can be almost as costly as rent in some cases. Average daycare costs can vary from $1,000 per month for infants to $945 for preschoolers in Somerset County. In the 75th percentile range, parents can expect to pay $1,425 monthly per infant and $1,135 per preschooler.
What About Utility Bills and Other Costs?
Life in Central New Jersey can be a little more expensive than in other parts of the U.S., although the benefits of living in one of the country’s biggest metropolitan area more than make up for the increased costs.
Numbeo estimates that you’ll pay about $130 in basic utility costs for a 950-square apartment. Internet fees may increase that amount by $52 or more. You’ll also need to consider food costs. Your monthly grocery bill will vary depending on your food preferences, but you can expect to pay $45 to dine in a mid-range restaurant in Somerset, according to Numbeo.
Do you enjoy hitting the gym after work? Depending on the gym and the type of membership you choose, costs can range from $10 to more than $100 per month. If you live at 745 Hamilton, use of the Fitness Center is complimentary, which can save you a little money every month.
745 Hamilton, one of Country Classics’ newest rental communities, is the ideal place to live if you want a luxurious apartment in the heart of Central New Jersey. The one- and two-bedroom apartments offer plenty of features that set them apart, including modern kitchens with quartz countertops and stainless steel appliances, spacious living areas and bedrooms, private balconies, in-unit washers and dryers, and on-site parking. Contact our leasing office for information on current availability.