These are the 7 most expensive Somerset County towns to live in

Most residents already know that it's expensive to live in Somerset County.

But doxo, an app designed to help households manage their living expenses, has developed a Cost of Bills Index which compares the monthly cost of paying the 10 most common household bills – mortgage, rent, auto loan, utilities, home insurance, health insurance, life insurance, mobile phone, cable and alarm systems – with other communities. The index does not include the price of food.

The study found that:

• New Jersey is the fourth most expensive state in the country for household bills.
• The average New Jersey household pays $2,802 per month for those bills, or $33,672 per year.
• That's 32% more than the national average, or $8,114.

The cost of living is even more expensive in Somerset County:

• Somerset is the third most expensive county in New Jersey.
• The average Somerset County household pays $3,1233 per month for those bills, or $37,471 per year.
• That's $11,958, or 47%, more than the annual national average,.
• That amount is 26% of the county's average household income of $142,703.

The most expensive towns in Somerset County

• Basking Ridge, 16th most expensive community in New Jersey, $3,558 per month
• Warren, 43rd most expensive in the state, $3,160 per month
• Hillsborough, 46th most expensive, $3,152 per month
• Somerville, 84th most expensive, $2,961 per month
• Bridgewater, 111th most expensive, $2,824 per month
• Somerset (Franklin), 114th most expensive, $2,775 per month
• Bound Brook, 129th most expensive, $2,726 per month.

The most expensive community in New Jersey is Princeton, $4,530 per month. The least expensive is Manchester Township in Ocean County, $1,667.

The two more expensive counties in New Jersey are Morris, $3.377 per month, and Bergen, $3,123 per month. The least expensive is Salem, $2,192 per month.

Hunterdon ranks sixth among the counties at $3,033 with Union 10th at $2,790 and Middlesex 11th, at $2,789.

The numbers, however, may not be as distressing as they seem because the largest components of Somerset County bills are for mortgage or rent.

If you exclude those costs, Somerset County is only 14% above the national average.

And Somerset County is 40% below the national average of the percentage of household income that goes toward paying the bills.

Email: mdeak@mycentraljersey.com

Mike Deak is a reporter for mycentraljersey.com. To get unlimited access to his articles on Somerset and Hunterdon counties, please subscribe or activate your digital account today.