Healthcare premiums go from the affordable to the astronomical. But if you're on a tight budget you're probably cooking most - if not all - of your meals at home. Others (I'm looking at you, California) have high income taxes. The cost of living index is based on a national average of 100. • Otherwise assume all deductions and retirement account contributions are zero. Prices and comparisons for the whole range of expenses: food, housing, going out, etc. These expenses are adjusted based on your annual income and household size. If you never cook you won't be as affected by a change in food prices if you move. That's where a cost of living calculator (like the one above!) The rest take a car. Have you ever heard of Sussex county… Just enter your salary and job title as well as your current location and the city where you're considering a move. Another big expense category is food. 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 $400 depending on where you live. Both of these areas are among the most expensive in the country, but New Jersey … An amount below 100 means New Jersey is cheaper than the US average. Every bagel place in every other state isn’t even really making bagels. See how far your salary will go to maintain your standard of living using our Cost of Living Calculator. That's where a cost of living calculator (like the one above!) That's why it's important to look for insurance you can afford and have an emergency fund to cover unexpected expenses. There are plenty of great places to live in New Jersey … There's the cost of education and whether you'll need to take out student loans to get (or complete) a college education. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). Reproduced from Pew Research Center; Map: Axios Visuals. So, moving to an area with lower housing costs can make a serious difference to your overall cost of living. Cost of living index in Jersey City is 16.75% lower than in New York. How the pandemic has affected wages across the U.S. First up is housing. Full cost of living comparison of Ushuaia vs Montclair, New Jersey. That may not entirely take the sting out of your rising rent or your high healthcare premiums, but it can help. You would need around 8,018.17$ 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). September 5, 2017 • 1:47 pm . Cost of Living Comparison and Salary Calculator can 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. Get started! The major differences between South and North Jersey is the cost of living, population density, traffic, high taxes, and real estate costs. Then, under city #2, let us know the Zip code or city and state of another city to which you may move. Thank you for your answer! To offset these higher costs (e.g., rent), wages are generally higher. To find these places, we looked at the cost of living relative to income to determine the purchasing power in each county. Understand what's truly driving the gender pay gap. Cost of living indexes let you compare basic expenses in different regions. Some states don't have any state-level income tax. 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. New Jersey is well-known for its higher cost of living. The average cost of health care is 2.3% less than the average in New Jersey. The biggest expenses we all face can vary significantly from one place to another. 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. 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… “Depending … In this case, when comparing the cost of living index of states, 100 represents the U.S. average. The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. Prices and comparisons for the whole range of expenses: food, housing, going out, etc. But they shouldn't be your only consideration. Items including clothing, cell phones and computers have become relatively more affordable. - 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 cost of living index provides you with the percentage difference in the cost of living between one location and another. While every state has property taxes, these vary considerably from place to place. State and local taxes can combine with your federal income taxes to take a serious bite out of your income. 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. 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. There's the cost of childcare if you need it. Jersey City carries a $448,778 median home value. That means you want to keep a close eye on grocery costs. Finally, we calculated purchasing power by determining the weighted cost of living as a percentage of median income. Cost of living in New Jersey (US) compared to North Carolina (US). She is passionate about helping buyers through the process of becoming homeowners. There’s a huge rivalry between Jersey and New York. How Much Does IVF Cost in New Jersey? A cost of living calculator can make the research much easier. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. 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. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. There are 14 states where living costs are more expensive than the U.S. National average. This calculator allows you to compare the cost of living in different locations. Full cost of living comparison of Jersey City, New Jersey vs Auckland. What your skills are worth in the job market is constantly changing. Reply. If people are willing and able to move they can relocate to take the jobs that are best suited to their skill sets. Follow wage changes of U.S. workers over time. Compare the Cost of Living in Roseland, New Jersey against another US Cities and States. These "extras" include clothing, personal care items and household cleaning products. 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. In the … For example, O-Bagel in Basking Ridge is THE best bagel I’ve had in New Jersey. The cost of living in the U.S. can vary drastically from state to state. Cost of Living in Jersey City, New Jersey Jersey City, New Jersey's cost of living is 31% higher than the national average. 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. 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. List of prices in Jersey City, New Jersey (United States) for food, housing, transportation, going out, and more on Jan 2021. • Number of personal exemptions is equal to the number of individuals in the household. 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. To do this we first calculate average living expenses based on your current location and desired location. If you move west into New Jersey, you'll also benefit from significantly lower tax rates. The taxes and cost of living in New Jersey are an important consideration for soon-to-be retirees. Zoom between states and the national map to see where people have the most purchasing power. Erica Pandey, author of @Work. - Median Home Cost is 126% … Miscellaneous Cost of Living Facts. Transportation costs are a major expense for many Americans. We then subtracted income taxes paid in that area. - 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. CNBC has ranked the top 10 states that will cost you the most in 2018. Carpooling can help you cut these costs by sharing them with others. 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 assumption is the sole provider is working full-time (2080 hours per year). We’ve compiled the data from multiple sources to figure out the cost of living for each area. Side-by-side comparison between Delaware and New Jersey using the main population, demographic, and social indicators from the United States Census Bureau. Your feedback is very important to us. Parsippany, NJ area prices were up 1.5% from a year ago. SmartAsset’s interactive map highlights the places in the country with the most favorable cost of living. Being a New Jersey resident can cost a pretty penny, especially when compared to other states, but we do have more affordable areas. We both have accent compared to down south or out of our region. Meaning, a single person is 1, a married couple is 2 and any additional children are counted as an additional individual. If the cost of living data … The largest increases were found in Transportation, Food, and Housing. 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 … Compare cost of living in cities in New-Jersey with factors like salaries, housing expenses, groceries, utilities and more. 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. Cost of living in Florida (US) compared to New Jersey (US). If you have employer-sponsored healthcare you might not have to pay anything for medical insurance. Moving out of Manhattan gives you the opportunity to have more space to live and enjoy lower rents. Unreliable transportation can mean a lost job. Our cost of living indices are based on a US average of 100. Most cities exempt grocery items from sales taxes but a few do not. Anyone else will need to budget accordingly. • Adults: 1 = Single, Adults: 2 = Married filing jointly. New Jersey is a notoriously expensive state to live in. Updated on Dec 2020. That's why our cost of living calculator takes local food prices into account. 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. Your budget will be more sustainable if you can spend less than 30% of your income on housing. There's even greater variation in income taxes. While living in Manhattan has an unmistakable cachet, joining the bridge and tunnel crowd has some real benefits, as well. If you live in New Jersey, you have a favorite bagel place — and you’re super opinionated about it. 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. - Median Home Cost is 14% more … 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. Then, there's the cost of the care itself. Princeton, NJ area prices were up 1.5% from a year ago. 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. can help. If you pay more than that you're considered "burdened" by your housing costs. Every other bagel fails in comparison. Tanza Loudenback. We then calculate the percentage difference between your current and desired locations in the categories of taxes, housing and food. The CPI calculation is based on a statistical model … These expenses in Washington D.C. are also higher due to its overall population density as compared to that of states. New Jersey is home to Princeton University, which consistently ranks as one of America’s best colleges. You could go without some of them for a little while, but they're still necessities. Enter your household pre-tax annual income, Enter the number of adults in your household, Enter the number of children in your household. Cost of living in New Jersey (US) compared to Tennessee (US). But while double the current minimum, $15 has its own limitations — and risks uncontemplated social … Methodology Our study aims to find the places where average living expenses are most affordable to the people who live there. 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. Under city #1, let us know the Zip code or city and state of your first opportunity – or where you're moving from. 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 … A comparison of the Cost of Living indexes across major New Jersey Cities compared to the national average. 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. Next, the tax category uses tax data at the federal, state and local level to determine estimated tax burden. 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. 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 Cost of living involves all of your expenses. Full cost of living comparison of Nice vs Newark, New Jersey. 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