Beachwood 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.
IndexBeachwoodNew JerseyNational
Cost of living index121131100
IndexBeachwoodNew JerseyNational
Goods & Services index112118100
Groceries index110116100
Health care index113111100
Housing index149166100
Transportation index111118100
Utilities index97110100
Displayed above is a general overview of the Beachwood, NJ cost of living index. The overall cost of living index in Beachwood, NJ is 121, which is 7% lower than the New Jersey average and 21% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Beachwood, NJ are 5% lower than the New Jersey average and 12% higher than the national average.

Did you know?

  • The cost of living in Beachwood is 7% lower than the New Jersey average.
  • The cost of living in Beachwood is 21% higher than the national average.
  • The cost of housing in Beachwood is 49% 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.

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Compare Beachwood, NJ Cost of living To Other Cities

Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in Beachwood, NJ to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Beachwood, NJ, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Beachwood, NJ salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$81,295$6,775$1,897$2,439
Renters$55,625$4,635$1,298$1,669
The affordability of the housing market in Beachwood, 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 Beachwood, NJ homeowners, the median income is $81,295. This indicates that a monthly maximum of $1,897 should be spent by homeowners on all housing related costs. Renters have a median income of $55,625. This indicates that renters should have a maximum of $1,298 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%
When assessing the complete cost of living in Beachwood, NJ, the New Jersey income tax and the New Jersey sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The New Jersey maximum surtax is 7%, and the New Jersey sales tax is 7%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 1.4% to 8.97% in New Jersey.

Goods & Services

ItemBeachwoodNational 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

ItemBeachwoodNational 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

ItemBeachwoodNational 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

ItemBeachwoodNational avg.Difference
Home Price $246,500.00$175,700.0040.3%
Avg. Mortgage Payment $1,607.16$1,081.0348.7%
Apartment Rent $1,572.00$920.0070.9%

Transportation

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

Utilities

ItemBeachwoodNational 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.
Cedar Glen West, NJ95583-17%
Cedar Glen Lakes, NJ1,52792-8%
Pine Ridge at Crestwood, NJ2,23992-8%
Crestwood Village, NJ7,70397-3%
Silver Ridge, NJ1,44798-2%
Beachwood, NJ11,12712121%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Campbellsville, KY11,12683-17%
Crossville, TN11,12585-15%
Mendota Heights, MN11,13112525%
Corning, NY11,10891-9%
Ontario, OR11,14886-14%
Beachwood, NJ11,12712121%
Source: The Beachwood, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.