Avenel cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexAvenelNew JerseyNational
Cost of living index120131100
IndexAvenelNew JerseyNational
Goods & Services index112118100
Groceries index110116100
Health care index113111100
Housing index147166100
Transportation index111118100
Utilities index97110100
The above illustration supplies generalized information for the Avenel, NJ cost of living index. Compared to other cities in New Jersey and cities across the country, the cost of living index in Avenel, NJ is 120, which is 8% lower than the New Jersey average and 20% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Avenel, NJ are 5% lower than the average for New Jersey and 12% higher than the rest of the country.

Did you know?

  • The cost of living in Avenel is 8% lower than the New Jersey average.
  • The cost of living in Avenel is 20% higher than the national average.
  • The cost of housing in Avenel is 47% higher than the national average.
  • New Jersey general sales tax is 37% higher than the national average.
  • New Jersey state income tax is 37% lower than the national average.

Find Real Estate Listings In Avenel

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Avenel

Compare Avenel, NJ Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Avenel, NJ would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Avenel, NJ, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Avenel, NJ salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$93,500$7,792$2,182$2,805
Renters$59,033$4,919$1,377$1,771
The affordability of the housing market in Avenel, NJ as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Avenel, NJ homeowners, the median income is $93,500. This indicates that a monthly maximum of $2,182 should be spent by homeowners on all housing related costs. Renters have a median income of $59,033. This indicates that renters should have a maximum of $1,377 used for their rent related monthly costs.

New Jersey Sales Tax

StateGeneral Sales TaxWith Max Surtax
New Jersey7%7%

New Jersey Income Tax

StateIncome Tax (Low)Income Tax (High)
New Jersey1.4%8.97%
For those who live in Avenel, NJ and want to know what the true cost of living is, they ought to look at both the New Jersey income tax rate and the New Jersey sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In New Jersey, the sales tax is 7%, while the most you'll pay in surtax is 7%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in New Jersey, the income tax rate ranges between 1.4% to 8.97%.

Goods & Services

ItemAvenelNational avg.Difference
Haircut $18.00$14.5923.3%
Beauty Salon $32.75$34.685.6%
Toothpaste $1.99$2.4719.5%
Shampoo $1.08$1.025.7%
Movie $11.70$9.8718.6%
Bowling $4.72$4.397.5%

Groceries

ItemAvenelNational avg.Difference
Ground Beef $4.44$4.480.8%
Fried Chicken $1.97$1.4634.6%
Milk $2.57$2.369.1%
Potatoes $3.39$3.0610.7%
Pizza $8.00$9.2413.4%
Beer $8.79$8.631.8%

Health Care

ItemAvenelNational avg.Difference
Optometrist $102.25$99.782.5%
Doctor $86.25$105.0317.9%
Dentist $119.50$88.7034.7%
Ibuprofen $10.32$9.419.6%
Lipitor $351.24$298.5017.7%

Housing

ItemAvenelNational avg.Difference
Home Price $271,900.00$175,700.0054.8%
Avg. Mortgage Payment $1,607.16$1,081.0348.7%
Apartment Rent $1,174.00$920.0027.6%

Transportation

ItemAvenelNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $58.80$45.2929.8%

Utilities

ItemAvenelNational avg.Difference
All Electricity$155.83$170.808.8%
Phone $29.75$28.265.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
East Orange, NJ64,53811313%
Keansburg, NJ10,01113333%
Newark, NJ278,75011414%
Roselle, NJ21,34811414%
Perth Amboy, NJ51,72711717%
Avenel, NJ17,95212020%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Tinton Falls, NJ17,93313333%
Logansport, IN17,93379-21%
Albert Lea, MN17,93181-19%
Yorkville, IL17,9801088%
Westerly, RI17,98412727%
Avenel, NJ17,95212020%
Source: The Avenel, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.