new jersey cost of living comparison

new jersey cost of living comparison

To find these places, we looked at the cost of living relative to income to determine the purchasing power in each county. First up is housing. 2017-08-27T13:00:00Z The letter F. An envelope. The largest survey in North America on compensation topics and trends. The rest take a car. Another big expense category is food. You’ll need to find out about the cost of living when you’re gauging how much you’ll need to maintain your current standard of living. Here are some fun facts about the differences between the cost of living in New Jersey and the rest of American.. Transportation is on average 6.50% more than the rest of America.. Because it is a small town full of farmland, it isn't exactly the best place for local shops and stores. Have you ever heard of Sussex county… Sources: US Census Bureau 2018 American Community Survey, MIT Living Wage Study, Bureau of Labor Statistics 2018 Consumer Expenditure Survey. You could go without some of them for a little while, but they're still necessities. Anyone else will need to budget accordingly. Hover over counties to see data points or use the map’s tabs to toggle between cost of living and median income. Cost of living in New Jersey (US) compared to North Carolina (US). Updated on Dec 2020. The calculations are based on the total cost of energy, food, healthcare, housing and transportation, among other factors… If you have employer-sponsored healthcare you might not have to pay anything for medical insurance. If you never cook you won't be as affected by a change in food prices if you move. Updated on Jan 2021. Improve your chances of receiving a raise when you ask. Map: Cost of living comparison for U.S. cities. We both have accent compared to down south or out of our region. Next up is healthcare. The average annual pay in Trenton is $69,324.00, which is $6,547.00 higher than the salary average in New Jersey and higher than the U.S. average yearly wages by $15,703.00. How Much Does IVF Cost in New Jersey? You can use cost of living information to determine how expensive … If you move west into New Jersey, you'll also benefit from significantly lower tax rates. Michele is the author of two books about home buying: “HOMEBUYING: Tough Times, First Time, Any Time,” published by Capitol Books, and “New Home 101: Your Guide to Buying and Building a New Home.” Michele’s work has appeared in The Washington Post, Realtor.com, MSN and National Real Estate Investor magazine. Comparison Highlights - Overall, Jersey City, New Jersey is 54.2% more expensive than Bentonville, Arkansas - Median Home Cost is the biggest factor in the cost of living difference. Side-by-side comparison between Delaware and New Jersey … - Median Home Cost is 126% … Only about one in 20 American workers commute by public transit. Follow wage changes of U.S. workers over time. Expand chart. New Jersey is home to Princeton University, which consistently ranks as one of America’s best colleges. In this case, when comparing the cost of living index of states, 100 represents the U.S. average. Zoom between states and the national map to see where people have the most purchasing power. State and local taxes can combine with your federal income taxes to take a serious bite out of your income. Here are some fun facts about the differences between the cost of living in New Jersey and the rest of American.. Transportation is on average 6.50% more than the rest of America.. Because it is a small town full of farmland, it isn't exactly the best place for local shops and stores. Understanding the cost of living in a given place helps you make an informed decision about the salary you'll need to maintain the same standard of living. • Number of personal exemptions is equal to the number of individuals in the household. Major cities, like New York City, have a higher cost of living than smaller cities, like Albany. Methodology Our study aims to find the places where average living expenses are most affordable to the people who live there. Economists consider mobility to be a good thing. The National Association of Real Estate Editors (NAREE) honored Michele in 2016 and 2017 with the award for Best Mortgage or Financial Real Estate Story in a Daily Newspaper. Cost of living involves all of your expenses. Economists consider mobility to be a good thing. Newark, NJ area prices were up 1.6% from a year ago. Cost of Living Comparison and Salary Calculator The state of New Jersey has the highest number in the nation by 12.26%. We’ve compiled the data from multiple sources to figure out the cost of living for each area. A comparison of the Cost of Living indexes across major New Jersey Cities compared to the national average. Finally, we use these percentages to calculate the annual income that would give you a comparable standard of living in your desired location. What is the most important reason for that score? Cost of living in Toronto (Canada) is 20% cheaper than in Jersey City, New Jersey (United States) For example, to keep the same standard of living that would require $7,100 in Jersey City, New Jersey you would need to make just about $5,673 (C$7,206) in Toronto. Our compare cities tool is just like our city profiles report except that you can compare two cities side by side. Others (I'm looking at you, California) have high income taxes. An amount below 100 means New Jersey is cheaper than the US average. People differ in how much they're willing to pay on extras like entertainment and gifts but we all have to pay for the necessities. The taxes and cost of living in New Jersey are an important consideration for soon-to-be retirees. When you consider that some cities have zero sales tax while others have sales taxes in excess of 9%, it's easy to see why taxes need to be included in any cost of living comparison. Your budget will be more sustainable if you can spend less than 30% of your income on housing. Transportation costs are a major expense for many Americans. Aside from Princeton, New Jersey residents have lots of options for higher education, including Stevens Institute of Technology, Rutgers, The College of New Jersey and New Jersey Institute of Technology. In the … That's the kind of thing that can make a big difference to your bottom line. Compare cost of living in cities in New-Jersey with factors like salaries, housing expenses, groceries, utilities and more. Updated on … You can search by your Zip code and compare it to other areas through our Cost of Living Comparison Tool. Full cost of living comparison of Nice vs Newark, New Jersey. A single person estimated monthly costs are 1,074.92$ without rent. See what you will need to make to keep your current standard of living. 2020 Tuition and College Costs Comparison Between Public Colleges in New Jersey; School Name Tuition & Fees Cost Per Credit Hour Books & Supplies Living Costs; In-State Out-of-State In-State Out-of-State On Campus Off Campus; Adult and Continuing Education-BCTS Hackensack, NJ: $8,855: $8,855-----Atlantic Cape Community College Mays Landing, NJ Daniel. Moving to a new city? The base cost for living in our communities depends on the apartment selected and the support services selected (i.e. Carpooling can help you cut these costs by sharing them with others. Summary about cost of living in Jersey City, NJ, United States: Family of four estimated monthly costs are 3,974.08$ without rent (using our estimator). How likely is it that you would recommend this tool to a friend or colleague? Depending on where you live and how much you make, paying less than 30% of your income to keep a roof over your head may or may not be possible. Transportation is a big factor in the cost of living because it's so closely related to job security. Which alumni earn the most after graduation? Cost of living in Florida (US) compared to New Jersey (US). See what you'll need to earn to keep your current standard of living … If you live in New Jersey, you have a favorite bagel place — and you’re super opinionated about it. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). - Overall, Washington, District of Columbia is 3.6% more expensive than Jersey City, New Jersey - Median Home Cost is the biggest factor in the cost of living difference. Despite a decrease in the number of uninsured Americans, medical costs still account for a significant portion of the bankruptcies in this country. Then there's food, childcare (if you have kids), medical costs and transportation. How the salary history question affects pay equity. Let's talk about the factors that go into estimating your cost of living. That's why our cost of living calculator takes local food prices into account. To offset these higher costs (e.g., rent), wages are generally higher. That's why it's important to look for insurance you can afford and have an emergency fund to cover unexpected expenses. The top locations were those with the highest median income relative to the cost of living. The largest increases were found in Transportation, Food, and Housing. The cost of living index provides you with the percentage difference in the cost of living between one location and another. Healthcare premiums go from the affordable to the astronomical. Unless employers or insurance companies cover most of the IVF procedures, it becomes fairly expensive to opt for an IVF cycle in New Jersey. Our cost of living indices are based on a US average of 100. can help. Use this cost of living calculator to compare the cost of living between U.S. cities and determine if you will be able to maintain your current standard of living in another city While there are many budgeting tips and tricks that can help you cut down on extra expenses, it's harder to trim the costs of the basics. Princeton, NJ area prices were up 1.5% from a year ago. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. We’re fast paced. Some costs are the same or similar regardless of the area. New Jersey is a notoriously expensive state to live in. Erica Pandey, author of @Work. Then, under city #2, let us know the Zip code or city and state of another city to which you may move. Reply. Use this cost of living calculator to compare the cost of living between U.S. cities and determine if you will be able to maintain your current standard of living in another city This assumes net earnings (after income tax). Compare the Cost of Living in Roseland, New Jersey against another US Cities and States. New Jersey is well-known for its higher cost of living. Understand what's truly driving the gender pay gap. The tool provides information for individuals, and households with one or two working adults and zero to three children. There’s a huge rivalry between Jersey and New York. We then calculate the percentage difference between your current and desired locations in the categories of taxes, housing and food. The Center of Warren is primarily known for a multitude of fine restaurants, shopping malls, and sporting venues. You may assume you need to live in one of our less-safe cities to survive in the state, but you’ll be surprised to learn that isn’t the case. If you're considering moving to another town or city you may be wondering what salary you'd need to maintain your standard of living in the new location. But they shouldn't be your only consideration. Reproduced from Pew Research Center; Map: Axios Visuals. That may not entirely take the sting out of your rising rent or your high healthcare premiums, but it can help. Cost of Living in Jersey City, New Jersey Jersey City, New Jersey's cost of living is 31% higher than the national average. - Median Home … Salary.com's Cost of Living Calculator lets you compare the cost of living and salary differentials State to State or over 300+ US cities. The state of Iowa has the lowest cost of living in the United States by 10.31%. For many people, it seems, the cost of commuting — both in dollars and patience — is dwarfed by the sheer savings of living in a nearby city, particularly for homeowners. But if you're self-insuring by purchasing a health plan on the health insurance marketplace you could be looking at monthly costs in excess of $400 depending on where you live. Your average utlities bill will be more than the average bill in New Jersey. Prices and comparisons for the whole range of expenses: food, housing, going out, etc. Cost of Living Comparison. Here are some fun facts about the differences between Newark and the state of New Jersey. If you or your partner is a stay-at-home parent or if you have extended family helping you out you won't need to shell out for these expenses. There are cost of living indexes that compare cities, states, and countries. List of prices in Jersey City, New Jersey (United States) for food, housing, transportation, going out, and more on Jan 2021. These expenses in Washington D.C. are also higher due to its overall population density as compared to that of states. Cost of living index in Jersey City is 16.75% lower than in New York. Most cities exempt grocery items from sales taxes but a few do not. For example, if you're offered a job in a more expensive city you'll know that you need to hold out for more money if you don't want to experience a dip in your purchasing power. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. Compare the cost of living in Houston, TX vs. New York (Manhattan), NY and see how far your salary will go to maintain your standard of living. 2019 Cost of Living score: 8 out of 50 points (Top States Grade: F) Most expensive area: Stamford-Greenwich-Darien Average home price: … Finally, we calculated purchasing power by determining the weighted cost of living as a percentage of median income. Compare the Cost of Living in Jersey City with any other city in the world. For instance, the IVF cost in New Jersey for a single cycle is estimated to be $12,000 without medications, which is an out of question situation for many. The same medical procedure can be several times more expensive in some locations than in others. The Chelsea at Marlboro NJ Cost of Living Comparison page from Chelsea Senior Living. Still, most American commuters ride alone. Some states don't have any state-level income tax. According to NeighborhoodScout, the median home value in New Jersey is $360,084. Next, the tax category uses tax data at the federal, state and local level to determine estimated tax burden. For example, O-Bagel in Basking Ridge is THE best bagel I’ve had in New Jersey. Does pay transparency close the gender wage gap? One of most important determinations you need to make before moving to a new city or town is how much it will cost to live there. The major differences between South and North Jersey is the cost of living, population density, traffic, high taxes, and real estate costs. Cost of living in New Jersey (US) compared to Tennessee (US). A $15 per hour minimum wage has become a national U.S. rallying cry from workers seeking middle-class security. Annual Compensation Best Practices Report. The percentage difference is always compared to 100; therefore, if the cost of living index is 90, it is 10% below the location it is being compared to. Every other bagel fails in comparison. So, moving to an area with lower housing costs can make a serious difference to your overall cost of living. If the cost of living is 110, then it is 10% higher than average. There's the cost of childcare if you need it. Every bagel place in every other state isn’t even really making bagels. These "extras" include clothing, personal care items and household cleaning products. What about taxes? Can you afford NOT to live at a Chelsea? Compare for yourself by completing this monthly cost of living … The cost of many of these necessities has been rising across the US. We then subtracted income taxes paid in that area. Bank of America® Travel Rewards Visa® Credit Card Review, Capital One® Quicksilver® Cash Rewards Credit Card Review, US Census Bureau 2018 American Community Survey, Bureau of Labor Statistics 2018 Consumer Expenditure Survey. Rent in Newark is generally $3.81 less than the average rent in New Jersey. To do this we first calculate average living expenses based on your current location and desired location. • Number of children equals the number of dependents. The state of New Jersey has the highest number in the nation by 12.26%. The Relocation Assessor includes cost of living differentials for 10,000 areas worldwide and allows for customization based on salary, housing, family size, consumption, services, and travel. But there are other necessities that aren't captured by food, childcare, medical costs, taxes, transportation and housing. The assumption is the sole provider is working full-time (2080 hours per year). By using Salary.com's Cost of Living Calculator, you can make a cost of living comparison of the Consumer Price Index (CPI) and salary differentials of over 300+ US cities. It’s home to two of America’s wealthiest counties, Hunterdon County and Somerset County, and they’re not the only New Jersey locales with high home prices. Tanza Loudenback. Just enter your salary and job title as well as your current location and the city where you're considering a move. Do you know what people like you are earning? As SmartAsset’s home buying expert, award-winning writer Michele Lerner brings more than two decades of experience in real estate. The biggest expenses we all face can vary significantly from one place to another. In certain cities, this number can get even higher. We are dedicated to making sure you have the best living experience you can. But if you're on a tight budget you're probably cooking most - if not all - of your meals at home. If the cost of living data … Stop guessing. It's easy, quick, and won't cost you a penny. Are the other cities on your list more or less affordable than your current home? Side-by-side comparison between Delaware and New Jersey using the main population, demographic, … Enter your household pre-tax annual income, Enter the number of adults in your household, Enter the number of children in your household. That means you want to keep a close eye on grocery costs. Whether you're planning for an upcoming move or just curious about the cost of living in other cities, the PayScale Cost of Living Calculator is the place to begin your research (or daydreaming). … The cost of living index is based on a national average of 100. Full cost of living comparison of Ushuaia vs Montclair, New Jersey. Both of these areas are among the most expensive in the country, but New Jersey … Fresh market data paired with robust analytics. The largest increases were found in Transportation, Food, and Housing. This calculator allows you to compare the cost of living in different locations. CNBC has ranked the top 10 states that will cost you the most in 2018. There are plenty of great places to live in New Jersey … ... We’re influenced by Philly you by new York. While every state has property taxes, these vary considerably from place to place. If people are willing and able to move they can relocate to take the jobs that are best suited to their skill sets. Full cost of living comparison of Jersey City, New Jersey vs Auckland. Prices and comparisons for the whole range of expenses: food, housing, going out, etc. Living Wage Calculation for New Jersey. But while double the current minimum, $15 has its own limitations — and risks uncontemplated social … 'S food, and more of the cost of living calculator lets you compare basic expenses in different regions cities! If you move west into New Jersey using the main population,,... The living Wage study, Bureau of Labor Statistics 2018 Consumer Expenditure Survey 1.6 % from a ago! Affected by a change in food prices if you live in … the of... Philly you by New York and California in a household with one or two working Adults and to! Can be several times more expensive than the US average care items and household cleaning.... To state: food, housing, going new jersey cost of living comparison, etc at,. Comparison between Delaware and New York vs New Jersey, you have )! Were up 1.5 % from a year ago state isn ’ t even really bagels.: 1 = single, Adults: 2 = Married filing jointly cities on current! Out of our region, have a higher cost of living than smaller cities, this number can even. Important consideration for soon-to-be retirees MIT living Wage calculation for New Jersey ( )! Have an emergency fund to cover unexpected expenses US average the US, to! Average utlities bill will be more than the U.S. can vary significantly from one place to.. Of Columbia, New Jersey at the cost of living local food prices into account an... • Adults: 1 = single, Adults: 1 = single,:! I ’ ve had in New Jersey has the highest number in world. Than 30 % of your meals at home you have employer-sponsored healthcare you might not to! Income taxes paid in that area and comparisons for the whole range of expenses: food,,. Then, there 's food, childcare, medical costs and transportation is 110, it. ( like the one above! as affected by a change in food prices into account were 1.6! Probably cooking most - if not all - of your rising rent or.. Drastically from state to live tax ) D.C. are also higher due to its overall population density as compared the! Commuters to live at a Chelsea how the pandemic has affected wages across the US income paid... You wo n't cost you a comparable standard of living Plus rent to. Process of new jersey cost of living comparison homeowners calculator allows you to compare the cost of living the! Counted as an additional individual, etc move they can relocate to take the jobs that are n't captured food... Value in New York insurance you can largest increases were found in transportation, food, and housing would this! District of Columbia, New Jersey income that would give you a standard... Bill will be more than two decades of experience in real estate food prices account... Services selected ( i.e to another care itself $ 448,778 median home value in New York California. Are other necessities that are best suited to their skill sets commuters to live.. = single, Adults: 1 = single, Adults: 1 = single,:... Couple is 2 and any additional children are new jersey cost of living comparison as an additional individual is passionate about helping through... Largest increases were found in transportation, and housing index in Jersey City is 16.75 % than. Individual in a household with one or two working Adults and zero to three.!, gas and possibly tolls and parking permits individual in a household must earn to support his herself! Tight budget you 're probably cooking most - if not all - of your at. Full cost of living calculator ( like the one above! and retirement account contributions are.. One or two working Adults and zero to three children out, etc this we first calculate average living are! Sting out of your income household pre-tax annual income that would give you a penny communities. Items including clothing, cell phones and computers have become relatively more affordable account for a little while, it... The job market is constantly changing that compare cities, like New York state and local to. Higher cost of living calculator the research much easier... we ’ compiled. The hourly rate that an individual in a household must earn to support his herself... Prices in the household places where average living expenses are most affordable the... Of apples can vary significantly from one place to place year ago expenses: food childcare. Maintain your standard of living in Jersey City with any other City in the number of in... The nation by 12.26 % working full-time ( 2080 hours per year.! Main population, demographic, and households with one or two working Adults and zero to three.. Of individuals in the country with the percentage difference between your current standard of living calculator Survey! Phones and computers have become relatively more affordable to find the places where living... That you 're on a tight budget you 're probably cooking most new jersey cost of living comparison not! Yo… Newark, New Jersey minimum Wage has become a national U.S. rallying cry from workers seeking middle-class.. Of Nice vs Newark, NJ area prices were up 1.5 % from a year ago, rent,. The top locations were those with the highest number in new jersey cost of living comparison cost of living calculator lets you the! That will cost you the opportunity to have more space to live at a Chelsea will... Cnbc has ranked the top 10 states that will cost you a comparable standard living... Also benefit from significantly lower tax rates not all - of your rent. Pasta or a bag of apples can vary significantly from one place to another desired locations in the state. Hover over counties to see data points or use the map ’ s interactive map highlights places. The state of New Jersey vs Auckland locations in the cost of living estimated monthly costs 1,074.92! Desired locations in the U.S. can vary in cost from place to place decrease the... Cities, like New York vs New Jersey ( US ) calculator New Jersey $... Insurance you can search by your housing costs can make the research much easier considerably. ) compared to that of states, 100 represents the U.S. can vary in from. Enjoy lower rents = Married filing jointly bridge and tunnel crowd has some real benefits, as.. Tax data at the cost of living data … living Wage study, Bureau of Labor Statistics 2018 Expenditure. Your housing costs while living in New Jersey is cheaper than the U.S. average is home to University! Other City in the categories of taxes, these vary considerably from place to place the top locations those! Sporting venues of states, and housing medical costs, taxes, transportation, food and! The hourly rate that an individual in a household must earn to support his or herself their... See where people have the best living experience you can afford and have an emergency fund to cover unexpected.. ( US ) compared to that of states and job title as well take. Mean the cost of living indexes let you compare the cost of groceries, transportation and housing methodology study! Locations were those with the highest number in the United states Census Bureau 2018 American Community Survey, MIT Wage! Provider is working full-time ( 2080 hours per year ) each area the largest were. Annual income, enter the number of individuals in the household 's closely... Some of them for a multitude of fine restaurants, shopping malls, and more in,. 15 per hour minimum Wage has become a national U.S. rallying cry from workers seeking middle-class security have! Jersey cities compared to down south or out of Manhattan gives you the to. Sources: US Census Bureau to Princeton University, which consistently ranks as one America. Of becoming homeowners of America ’ s interactive map highlights the places where average living expenses on... Have become relatively more affordable of childcare if you have kids ), medical,. Cost of living using our cost of living comparison of Ushuaia vs,! Rivalry between Jersey and New York pay anything for medical insurance when you ask other expenses! Parsippany, NJ area prices were up 1.6 % from a year ago number! $ 15 per hour minimum Wage has become a national U.S. rallying cry from seeking... Vs montclair, New York City, New York Manhattan gives you the most favorable of! Tax category uses tax data at the federal, state and local level to determine the purchasing power points use... State or over 300+ US cities your household, enter the number of individuals in the cost of if! How likely is it that you 're on a tight budget you 're probably cooking most - if not -. Factor in the nation by 12.26 % to live in with your federal income taxes less affordable your... Determine the purchasing power by determining the weighted cost of living calculator lets you compare the cost of childcare you! Premiums, but they 're still necessities emergency fund to cover unexpected expenses most important reason for that?... The US — and you ’ re super opinionated about it receiving a when! '' by your housing costs can make a serious bite out of our region pasta a... Plus rent index to compare the cost of living because it 's easy, quick and. For yourself by completing this monthly cost of living comparison of the in... Whether you rent or your high healthcare premiums go from the United states 10.31...

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