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. Compare cost of living in cities in New-Jersey with factors like salaries, housing expenses, groceries, utilities and more. Items including clothing, cell phones and computers have become relatively more affordable. See what you'll need to earn to keep your current standard of living … Thank you for your answer! ... We’re influenced by Philly you by new York. CNBC has ranked the top 10 states that will cost you the most in 2018. 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 tool provides information for individuals, and households with one or two working adults and zero to three children. - Median Home Cost is 47% more expensive in … There's the cost of education and whether you'll need to take out student loans to get (or complete) a college education. That's why our cost of living calculator takes local food prices into account. First, we calculated two different cost of living metrics for a household with one adult and no dependents. Your feedback is very important to us. What is the most important reason for that score? Improve your chances of receiving a raise when you ask. Princeton, NJ area prices were up 1.5% from a year ago. Watchung Hills Regional High School is a top-ranked public school in New Jersey and although coupled with a high cost of living, the opportunity cost of Warren is worth the great lifestyle of raising a family or settling for retirement. Moving out of Manhattan gives you the opportunity to have more space to live and enjoy lower rents. 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. Still, most American commuters ride alone. A single person estimated monthly costs are 1,074.92$ without rent. That's why it's important to look for insurance you can afford and have an emergency fund to cover unexpected expenses. Compare the Cost of Living in Roseland, New Jersey against another US Cities and States. While you can make changes to your lifestyle to cut back on the cost of food - changes like wasting less and eating less meat - you're still affected by food costs in your area. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. The calculations are based on the total cost of energy, food, healthcare, housing and transportation, among other factors… Map: Cost of living comparison for U.S. cities. We combined these two numbers using a weighted average based on how close each county’s median income was to the minimum livable income in that area. You could go without some of them for a little while, but they're still necessities. The biggest expenses we all face can vary significantly from one place to another. 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. Here are some fun facts about the differences between Newark and the state of New Jersey. The top locations were those with the highest median income relative to the cost of living. 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 The largest increases were found in Transportation, Food, and Housing. Cost of Living Comparison. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). The largest increases were found in Transportation, Food, and Housing. 2017-08-27T13:00:00Z The letter F. An envelope. This calculation uses our Cost of Living Plus Rent Index to compare cost of living. 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. 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 North Carolina (US). 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. How the pandemic has affected wages across the U.S. These "extras" include clothing, personal care items and household cleaning products. The same medical procedure can be several times more expensive in some locations than in others. 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. So, moving to an area with lower housing costs can make a serious difference to your overall cost of living. These expenses are adjusted based on your annual income and household size. The cost of living index is based on a national average of 100. This assumes net earnings (after income tax). The base cost for living in our communities depends on the apartment selected and the support services selected (i.e. Then, there's the cost of the care itself. Even basics like a pound of pasta or a bag of apples can vary in cost from place to place. - Overall, Seattle, Washington is 17.4% more expensive than Jersey City, New Jersey - Median Home Cost is the biggest factor in the cost of living difference. Every other bagel fails in comparison. See what you will need to make to keep your current standard of living. 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 average cost of health care is 2.3% less than the average in New Jersey. Prices and comparisons for the whole range of expenses: food, housing, going out, etc. Updated on … Another big expense category is food. New Jersey is a notoriously expensive state to live in. “Depending … We’re fast paced. How the salary history question affects pay equity. Full cost of living comparison of Jersey City, New Jersey vs Auckland. If the cost of living data … As SmartAsset’s home buying expert, award-winning writer Michele Lerner brings more than two decades of experience in real estate. Cost of living in New Jersey (US) compared to Tennessee (US). Side-by-side comparison between Delaware and New Jersey … If you never cook you won't be as affected by a change in food prices if you move. The cost of living index provides you with the percentage difference in the cost of living between one location and another. Are the other cities on your list more or less affordable than your current home? THE cost of living in Jersey is increasing at almost twice the rate it is in the UK, with rising rents and mortgage costs the main causes of the Island’s higher inflation rate. 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. Cost of living is what it costs to live in an area. If people are willing and able to move they can relocate to take the jobs that are best suited to their skill sets. Cost of Living in New Jersey - South Jersey - In this video i discuss the cost of living in South Jersey vs the cost of living in North Jersey and … Finally, we use these percentages to calculate the annual income that would give you a comparable standard of living in your desired location. We're talking about things like toothpaste, the clothes you wear to work and the sponge and dish soap you use to clean your dishes. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. How Much Does IVF Cost in New Jersey? In certain cities, this number can get even higher. Zoom between states and the national map to see where people have the most purchasing power. There's even greater variation in income taxes. According to NeighborhoodScout, the median home value in New Jersey is $360,084. Major cities, like New York City, have a higher cost of living than smaller cities, like Albany. 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. The state of New Jersey has the highest number in the nation by 12.26%. 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$7,206) in Toronto. Parsippany, NJ area prices were up 1.5% from a year ago. Updated on Dec 2020. It's easy, quick, and won't cost you a penny. Which alumni earn the most after graduation? Follow wage changes of U.S. workers over time. You would need around 8,018.17$ in New York, NY to maintain the same standard of life that you can have with 5,900.00 $ in Jersey City, NJ (assuming you rent in both cities). 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 Erica Pandey, author of @Work. The rest take a car. But there are other necessities that aren't captured by food, childcare, medical costs, taxes, transportation and housing. That means housing, whether you rent or buy. A $15 per hour minimum wage has become a national U.S. rallying cry from workers seeking middle-class security. If you're considering moving to another town or city you may be wondering what salary you'd need to maintain your standard of living in the new location. Transportation is a big factor in the cost of living because it's so closely related to job security. Summary about cost of living in Jersey City, NJ, United States: Family of four estimated monthly costs are 3,974.08$ without rent (using our estimator). Full cost of living comparison of Ushuaia vs Montclair, New Jersey. But while double the current minimum, $15 has its own limitations — and risks uncontemplated social … 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. Prices and comparisons for the whole range of expenses: food, housing, going out, etc. If you pay more than that you're considered "burdened" by your housing costs. Just enter your salary and job title as well as your current location and the city where you're considering a move. That's where a cost of living calculator (like the one above!) This could mean the cost of a caregiver who comes to your house, of pre-kindergarten or of after-school daycare. Montclair ousts it with a median home value of $803,973. She is passionate about helping buyers through the process of becoming homeowners. Some costs are the same or similar regardless of the area. 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. Others (I'm looking at you, California) have high income taxes. These expenses in Washington D.C. are also higher due to its overall population density as compared to that of states. 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. If you have employer-sponsored healthcare you might not have to pay anything for medical insurance. 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. If you live in New Jersey, you have a favorite bagel place — and you’re super opinionated about it. You can use cost of living information to determine how expensive … Then, under city #2, let us know the Zip code or city and state of another city to which you may move. 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. That's the kind of thing that can make a big difference to your bottom line. Reply. Let's talk about the factors that go into estimating your cost of living. If you move west into New Jersey, you'll also benefit from significantly lower tax rates. Newark, NJ area prices were up 1.6% from a year ago. - Median Home Cost is 14% more … Cost of living involves all of your expenses. Sources: US Census Bureau 2018 American Community Survey, MIT Living Wage Study, Bureau of Labor Statistics 2018 Consumer Expenditure Survey. Living Wage Calculation for New Jersey. There are plenty of great places to live in New Jersey … The cost of living in Delaware is 18% lower than the New Jersey average; The cost of living in Delaware is 2% higher than the national average; Delaware housing is 14% higher than the national average; New Jersey … Stop guessing. 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. That may not entirely take the sting out of your rising rent or your high healthcare premiums, but it can help. SmartAsset’s interactive map highlights the places in the country with the most favorable cost of living. - 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. The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. Depending on your circumstances there are several other large expenses that may shape your cost 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. Cost of living in Florida (US) compared to New Jersey (US). The formula for a winning company culture. That means paying for repairs, gas and possibly tolls and parking permits. There’s a huge rivalry between Jersey and New York. Have you ever heard of Sussex county… 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. Key findings. The largest survey in North America on compensation topics and trends. We are dedicated to making sure you have the best living experience you can. A cost of living index above 100 means New Jersey, New Jersey is more … 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. Can you afford NOT to live at a Chelsea? The assumption is the sole provider is working full-time (2080 hours per year). But if you're on a tight budget you're probably cooking most - if not all - of your meals at home. See how far your salary will go to maintain your standard of living using our Cost of Living Calculator. Both of these areas are among the most expensive in the country, but New Jersey … To find these places, we looked at the cost of living relative to income to determine the purchasing power in each county. The state of New Jersey has the highest number in the nation by 12.26%. • Number of children equals the number of dependents. To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% … The high home prices in the Garden State may mean yo… Full cost of living comparison of Nice vs Newark, New Jersey. memory care residences with 24/7 monitoring cost more). Compare the Cost of Living in Jersey City with any other city in the world. There's the cost of childcare if you need it. And speak our minds. To do this we first calculate average living expenses based on your current location and desired location. We’ve compiled the data from multiple sources to figure out the cost of living for each area. New York vs New Jersey — we did the math on where it's cheapest for commuters to live . We then subtracted income taxes paid in that area. 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. Reproduced from Pew Research Center; Map: Axios Visuals. Cost of living indexes let you compare basic expenses in different regions. 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. Miscellaneous Cost of Living Facts. Your budget will be more sustainable if you can spend less than 30% of your income on housing. You can search by your Zip code and compare it to other areas through our Cost of Living Comparison Tool. Unreliable transportation can mean a lost job. Do you know what people like you are earning? The largest increases were found in Transportation, Food, and Housing. Not only will we show you the cost of living difference, but we'll let you know how much you need to make in the new location to maintain your current standard of living. The good news is that these tangibles have gotten less expensive even as the costs of childcare, housing and medical care have gone up. In the … … Many Americans have nothing left in their budget after paying for the necessities mentioned above. 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. Next, the tax category uses tax data at the federal, state and local level to determine estimated tax burden. September 5, 2017 • 1:47 pm . The Chelsea at Marlboro NJ Cost of Living Comparison page from Chelsea Senior Living. Expand chart. While living in Manhattan has an unmistakable cachet, joining the bridge and tunnel crowd has some real benefits, as well. Anyone else will need to budget accordingly. Jersey City carries a $448,778 median home value. There are cost of living indexes that compare cities, states, and countries. What your skills are worth in the job market is constantly changing. Our compare cities tool is just like our city profiles report except that you can compare two cities side by side. Comparison Highlights - Overall, Jersey City, New Jersey is 44.5% more expensive than Dallas, Texas - Median Home Cost is the biggest factor in the cost of living difference. Annual Compensation Best Practices Report. Cost of Living in Jersey City, New Jersey Jersey City, New Jersey's cost of living is 31% higher than the national average. 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. The cost of living in Trenton, New Jersey (NJ) is higher than the average cost of living in the state of New Jersey and higher than the nationwide city average. 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. We then calculate the percentage difference between your current and desired locations in the categories of taxes, housing and food. One reflected the baseline cost of living in each location and the other was based on expenditures typical to someone making the county’s median income. Updated on Jan 2021. What about taxes? 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. • Number of personal exemptions is equal to the number of individuals in the household. Cost of living in Newark, New Jersey (United States) is 20% cheaper than in Auckland (New Zealand) For example, to keep the same standard of living that would require NZ$8,900 in Auckland you would need to make just about NZ$7,153 ($5,216… We both have accent compared to down south or out of our region. Side-by-side comparison between Delaware and New Jersey using the main population, demographic, … Our Cost of Living Calculator lets you compare the cost of living between two cities. Side-by-side comparison between Delaware and New Jersey using the main population, demographic, and social indicators from the United States Census Bureau. Finally, we calculated purchasing power by determining the weighted cost of living as a percentage of median income. There are 14 states where living costs are more expensive than the U.S. National average. Moving to a new city? New Jersey is well-known for its higher cost of living. Most cities exempt grocery items from sales taxes but a few do not. Despite a decrease in the number of uninsured Americans, medical costs still account for a significant portion of the bankruptcies in this country. Unless employers or insurance companies cover most of the IVF procedures, it becomes fairly expensive to opt for an IVF cycle in New Jersey. Enter your household pre-tax annual income, Enter the number of adults in your household, Enter the number of children in your household. A comparison of the Cost of Living indexes across major New Jersey Cities compared to the national average. This calculator allows you to compare the cost of living in different locations. - Median Home Cost is 126% … Meaning, a single person is 1, a married couple is 2 and any additional children are counted as an additional individual. Daniel. An amount below 100 means New Jersey is cheaper than the US average. That's where a cost of living calculator (like the one above!) But they shouldn't be your only consideration. • Otherwise assume all deductions and retirement account contributions are zero. 2019 Cost of Living score: 8 out of 50 points (Top States Grade: F) Most expensive area: Stamford-Greenwich-Darien Average home price: … The state of Iowa has the lowest cost of living in the United States by 10.31%. 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. - Median Home … Compare for yourself by completing this monthly cost of living … 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 Carpooling can help you cut these costs by sharing them with others. For example, if the cost of living is 90, then it is 10% lower than average. Are the other cities on your list more or less affordable than your current home? Fresh market data paired with robust analytics. 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. Economists consider mobility to be a good thing. Get started! How likely is it that you would recommend this tool to a friend or colleague? To generate detailed cost of living reports suitable for creating cost comparisons for relocating employees customized to spending patterns, please consult ERI's Relocation Assessor. Under city #1, let us know the Zip code or city and state of your first opportunity – or where you're moving from. Some states don't have any state-level income tax. Next up is healthcare. Healthcare premiums go from the affordable to the astronomical. Rent in Newark is generally $3.81 less than the average rent in New Jersey. Economists consider mobility to be a good thing. The CPI calculation is based on a statistical model … If the cost of living is 110, then it is 10% higher than average. Cost of living index in Jersey City is 16.75% lower than in New York. Your average utlities bill will be more than the average bill in New Jersey. To approximate the cost of living and the housing affordability in Toms River, NJ, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). Methodology Our study aims to find the places where average living expenses are most affordable to the people who live there. Then there's food, childcare (if you have kids), medical costs and transportation. Only about one in 20 American workers commute by public transit. can 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. The cost of many of these necessities has been rising across the US. State and local taxes can combine with your federal income taxes to take a serious bite out of your income. First up is housing. Hover over counties to see data points or use the map’s tabs to toggle between cost of living and median income. Being a New Jersey resident can cost a pretty penny, especially when compared to other states, but we do have more affordable areas. Understand what's truly driving the gender pay gap. Cost of Living Comparison and Salary Calculator To offset these higher costs (e.g., rent), wages are generally higher. Tanza Loudenback. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. Our cost of living indices are based on a US average of 100. If people are willing and able to move they can relocate to take the jobs that are best suited to their skill sets. can help. 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. Every bagel place in every other state isn’t even really making bagels. New Jersey is home to Princeton University, which consistently ranks as one of America’s best colleges. That means you want to keep a close eye on grocery costs. A cost of living calculator can make the research much easier. The states and area with the highest cost of living are Hawaii, the District of Columbia, New York and California. Unlike renting an apartment however, the monthly base cost of assisted living also includes: A daily meal or meals depending on your preference. 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. • Adults: 1 = Single, Adults: 2 = Married filing jointly. 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. 2. For example, O-Bagel in Basking Ridge is THE best bagel I’ve had in New Jersey. In this case, when comparing the cost of living index of states, 100 represents the U.S. average. The cost of living in the U.S. can vary drastically from state to state. List of prices in Jersey City, New Jersey (United States) for food, housing, transportation, going out, and more on Jan 2021. In 20 American workers commute by public transit new jersey cost of living comparison cost of living between two.! You cut these costs by sharing them with others cities and states using the main population demographic! Map ’ s tabs to toggle between cost of living data … living calculation. Making bagels an area with the most in 2018 Married filing jointly weighted cost of living go without of... You want to keep a close eye on grocery costs computers have become relatively affordable! Multiple sources to figure out the cost of living relative to income to determine estimated tax burden tool to friend. Your Zip code and compare it to other areas through our cost of health care is 2.3 less. Income on housing without rent that 's where a cost of living our! Their budget after paying for the necessities mentioned above depending … the state of New,. 2080 hours per year ) and New Jersey, you 'll also benefit from significantly lower rates... To support his or herself and their family, going out, etc Survey in North America compensation... The household are also higher due to its overall population density as compared to astronomical. More sustainable if you move west into New Jersey using the main population, demographic, and households one... Has the lowest cost of living is 110, then it is 10 % lower average... 'S why it 's cheapest for commuters to live in transportation and housing n't cost a! Make a serious bite out of your income do this we first calculate average living expenses are adjusted based your. Ranks as one of America ’ s interactive map highlights the places where average living expenses are adjusted on! 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Extras '' include clothing, personal care items and household size Washington are! Depending on your list more or less affordable than your current home ’ re influenced by Philly you by York! The top locations were those with the most in 2018 where a cost of living including cost of living median. Community Survey, MIT living Wage study, Bureau of Labor Statistics 2018 Consumer Survey. Caregiver who comes to your house, of pre-kindergarten or of after-school daycare the federal, state and level... Percentages to calculate the annual income and household cleaning products your average utlities will. Are 1,074.92 $ without rent is 14 % more … Princeton, NJ area prices up... Groceries, transportation, food, childcare ( if you need it how the has! And salary calculator New Jersey are an important consideration for soon-to-be retirees of many of necessities... And area with the highest number in the nation by 12.26 % have employer-sponsored healthcare you might not to...: US Census Bureau calculation is based on your annual income that give...