Cost of living in Short Hills, NJ — Housing, Rent & Index

The median home value in Short Hills, NJ is $2,369,554 as of 2026-04. That places Short Hills above the US average for housing cost, with a cost index of approximately 667 versus a national baseline of 100.

Over the past 12 months, the median home value in Short Hills has climbed 6.9%, and over the past five years it has averaged +8.9% annual growth. The current price sits +0.0% from its 5-year peak in 2026-04.

Renters pay a median of $5,304 per month in Short Hills. Rents have changed — over the last year and averaged — per year over five years.

Beyond housing, day-to-day costs in Short Hills are shaped by state and local taxes, utility rates, transportation, and groceries. This page focuses on the housing component, which is the largest single line in most household budgets and the easiest to compare across cities using consistent national data.