Mount Laurel, NJ vs. Cherry Hill, NJ: Cost of Living Comparison (2025)
When deciding where to live in the Philadelphia metro area, many people find themselves comparing the cost of living between Mount Laurel and Cherry Hill – two popular New Jersey suburbs. While both offer a high quality of life and easy access to the city, there are some key differences in housing costs, taxes, and daily expenses that can impact your budget. In this article, we’ll break down the numbers to help you determine which town provides better value in 2025.
For families seeking more space, Mount Laurel’s larger homes and lots may be appealing, while young professionals might prefer Cherry Hill’s wider variety of apartments and townhomes closer to amenities. Ultimately, the decision often comes down to cost. As prices continue to rise across the region, understanding where your money goes furthest is crucial. Let’s dive into the data to see which suburb comes out ahead.
Housing Costs: Rents and Mortgages
Housing is the biggest expense for most households, and Mount Laurel has a slight edge over Cherry Hill in this category. The median home price in Mount Laurel is around $350,000, while Cherry Hill’s median is closer to $400,000. This means a typical mortgage payment would be about $200 less per month in Mount Laurel.
Renters will also find more affordable options in Mount Laurel. A 2-bedroom apartment averages $1,600 monthly, compared to $1,800 in Cherry Hill. Larger rental homes are scarce in both towns, but a 3-bedroom house in Mount Laurel might cost $2,200 vs. $2,500 or more in Cherry Hill.
| Housing Type | Mount Laurel | Cherry Hill |
|---|---|---|
| 2BR Apartment | $1,600 | $1,800 |
| 3BR House | $2,200 | $2,500 |
| Median Home Price | $350,000 | $400,000 |
For a family of four, the lower housing costs in Mount Laurel could translate to substantial savings over time – potentially $24,000 less on mortgage payments over 10 years. Singles and couples without kids may find the price difference less of a concern compared to Cherry Hill’s greater concentration of apartments and amenities.
Winner: Mount Laurel. Lower home prices and rents give it the advantage for most budgets.
Utility Bills and Energy Expenses
Utility costs are fairly similar between Mount Laurel and Cherry Hill. Expect to pay around $150-$250 per month for electricity, gas, water, and trash for a typical home. Larger houses will fall on the higher end, especially with summer air conditioning.
One notable difference is that Cherry Hill has more new construction and luxury developments. These tend to have better insulation and energy-efficient features that can help lower bills. Older homes in both towns may have higher heating and cooling costs.
Many neighborhoods in Mount Laurel and Cherry Hill have HOA fees that can add $100-$300 per month. These often cover some utilities like trash and snow removal. Consider this extra cost if you’re comparing properties.
Winner: Toss-up. Utilities are a wash unless you’re in an older home or luxury development.
Food, Dining Out, and Groceries
Mount Laurel and Cherry Hill both have a good mix of grocery stores, from affordable chains to upscale markets. Prices for staples like milk, bread, and eggs are nearly identical. Bulk buyers may save a bit at the larger stores in Cherry Hill.
Dining out is slightly pricier in Cherry Hill, which has a higher concentration of trendy restaurants. A meal for two averages $60, while Mount Laurel is closer to $50. But with Cherry Hill’s greater variety, some may find the extra cost worthwhile.
A family of four would likely spend around $1,000 per month on groceries and occasional meals out in either town. Singles and couples have more flexibility – $500-$800 is typical depending on how often you cook vs. dine out.
Winner: Mount Laurel. Lower restaurant prices give it a slight edge for the budget-conscious.
Taxes, Fees, and Extra Costs
Taxes are a significant cost in New Jersey, and property tax rates are high in both towns. Mount Laurel’s rate is 2.49% vs. 2.734% in Cherry Hill. For a $350,000 home, that’s a difference of about $1,000 per year.
New Jersey’s 6.625% sales tax applies equally in both places. There are no local income taxes, but the state has a progressive tax that tops out at 10.75% for high earners.
Car owners should factor in registration fees, which are $46.20 for a new license plate plus an annual renewal fee based on the vehicle’s age and weight. Commuters driving to Philadelphia for work may face bridge tolls up to $5 per trip.
Winner: Mount Laurel. A lower property tax rate is the main advantage for homeowners and adds up over time.
Cost of Living Comparison Table
| Category | Mount Laurel | Cherry Hill |
|---|---|---|
| Housing (Mortgage or Rent) | $1,600 – $2,200 | $1,800 – $2,500 |
| Utilities | $150 – $250 | $150 – $250 |
| Groceries and Dining | $500 – $1,000 | $500 – $1,000 |
| Transportation | $50 – $300 | $50 – $300 |
| Taxes | 2.49% property tax | 2.734% property tax |
| Estimated Monthly Total | $2,300 – $3,750 | $2,500 – $4,050 |
Based on the estimates above, a household could expect to save around $200-$300 per month on core living costs by choosing Mount Laurel over Cherry Hill. Keep in mind these are averages – your actual expenses will depend on your lifestyle, family size, and specific housing costs.
Methodology: Monthly estimates reflect typical 2025 costs for a 2-4 person household in a 2-bedroom apartment or 3-bedroom house using regional price data and cost of living benchmarks. Actual budgets will vary based on neighborhood, housing type, and spending habits.
Lifestyle and Amenities
While Mount Laurel may come out slightly ahead on costs, Cherry Hill has some lifestyle advantages that could offset the difference for some people. Its location provides a shorter commute to Philadelphia, with more transit options. Driving to Center City takes about 30 minutes, or you can hop on the PATCO Speedline for a traffic-free trip.
Cherry Hill also has a larger downtown with more dining, shopping, and entertainment packed into its “Golden Triangle” along Route 70. This walkable core is a draw for singles and DINKs who crave a more urban feel. Fun fact: The Cherry Hill Mall was the first enclosed shopping mall on the East Coast when it opened in 1961.
Mount Laurel’s more spread-out suburban layout means more driving to get around, but it offers easier access to outdoor recreation. The 546-acre Laurel Acres Park has miles of trails, fishing lakes, and sports fields. Quieter neighborhoods with larger yards tend to attract families.
Both towns have highly regarded school districts, with Cherry Hill High School East and Mount Laurel’s Lenape High School frequently ranked among the best in the state. Low crime rates and a strong sense of community are other shared points of pride.
Frequently Asked Questions
Is Mount Laurel more affordable than Cherry Hill in 2025?
Yes, Mount Laurel has a lower overall cost of living than Cherry Hill as of 2025, primarily due to more affordable housing. The typical household saves $200-$300 per month on expenses.
Are property taxes higher in Cherry Hill than in Mount Laurel?
Cherry Hill’s 2022 property tax rate of 2.734% is higher than Mount Laurel’s 2.49%. For a $350,000 home, that means paying about $1,000 more per year in Cherry Hill.
How do grocery costs compare between Mount Laurel and Cherry Hill?
Grocery prices are very similar in both towns. Mount Laurel has slightly lower costs for dining out, but Cherry Hill offers a wider variety of restaurant options.
Do utility bills tend to be higher in Mount Laurel or Cherry Hill during the winter?
Utility costs are comparable, but Mount Laurel’s older housing stock may mean higher heating bills. Newer homes in Cherry Hill tend to have better energy efficiency.
Is Mount Laurel considered a better value for homebuyers compared to Cherry Hill?
With a median home price around $50,000 less than Cherry Hill, Mount Laurel offers more affordable options for buyers. The lower property tax rate is another advantage for owners.
The Bottom Line
While the cost of living difference between Mount Laurel and Cherry Hill isn’t enormous, it’s enough to notice in your monthly budget. Mount Laurel comes out ahead on key expenses like housing and taxes. For a typical family, that could mean pocketing $3,000 or more per year.
Still, Cherry Hill’s appealing lifestyle amenities, like its walkable downtown and shorter commute to Philly, may be worth a slight premium for some. It’s all about weighing your priorities. Calculating your expected monthly expenses in each town can help you decide.
Whichever town you choose, you’ll find welcoming neighborhoods, great schools, and plenty of community spirit. Planning a move? See our 2025 moving company picks to get settled with less stress. And be sure to check out our full Mount Laurel cost of living guide for more budgeting tips.