Bernardsville 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.
IndexBernardsvilleNew JerseyNational
Cost of living index168127100
IndexBernardsvilleNew JerseyNational
Goods & Services index113114100
Groceries index102104100
Health care index102100100
Housing index307166100
Transportation index106107100
Utilities index109110100
Here we can see a simple outline of the cost of living in Bernardsville, NJ. As you can see, with the average cost of living in Bernardsville, NJ being 168, that puts it 33% higher than the average of New Jersey and 68% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Bernardsville, NJ, the price of goods and services are 1% lower than the average of New Jersey as well as 13% higher than the nation's average.

Did you know?

  • The cost of living in Bernardsville is 33% higher than the New Jersey average.
  • The cost of living in Bernardsville is 68% higher than the national average.
  • The cost of housing in Bernardsville is 207% 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 Bernardsville, NJ Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator allows you to compare how much your current salary in Bernardsville, 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 Bernardsville, NJ, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Bernardsville, 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$119,458$9,955$2,787$3,584
Renters$64,457$5,371$1,504$1,934
The affordability of the housing market in Bernardsville, 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 Bernardsville, NJ homeowners, the median income is $119,458. This indicates that a monthly maximum of $2,787 should be spent by homeowners on all housing related costs. Renters have a median income of $64,457. This indicates that renters should have a maximum of $1,504 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%
The New Jersey sales tax and New Jersey income tax rates should definitely be considered when determining the overall cost of living in Bernardsville, NJ. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The New Jersey sales tax is 7% and the maximum surtax is 7%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The New Jersey income tax rates range from 1.4% to 8.97%.

Goods & Services

ItemBernardsvilleNational avg.Difference
Haircut $19.80$15.5627.2%
Beauty Salon $31.53$36.1112.7%
Toothpaste $2.04$2.4717.4%
Shampoo $0.96$0.960.9%
Movie $12.25$10.1321.0%
Bowling $4.44$4.746.3%

Groceries

ItemBernardsvilleNational avg.Difference
Ground Beef $3.72$3.986.7%
Fried Chicken $1.42$1.411.2%
Milk $2.35$2.0613.9%
Potatoes $2.76$2.987.6%
Pizza $8.16$9.4713.8%
Beer $9.12$8.793.7%

Health Care

ItemBernardsvilleNational avg.Difference
Optometrist $104.60$101.043.5%
Doctor $88.87$107.4417.3%
Dentist $110.17$90.4221.8%
Ibuprofen $8.59$9.287.4%
Lipitor $389.54$426.508.7%

Housing

ItemBernardsvilleNational avg.Difference
Home Price $642,600.00$175,700.00265.7%
Avg. Mortgage Payment $1,533.70$1,133.2335.3%
Apartment Rent $1,551.00$920.0068.6%

Transportation

ItemBernardsvilleNational avg.Difference
Gasoline $1.92$1.993.6%
Tire Balancing $59.07$45.7629.1%

Utilities

ItemBernardsvilleNational avg.Difference
All Electricity$168.73$163.813.0%
Phone $33.50$28.3918.0%
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.
Byram Center, NJ501099%
Zarephath, NJ01099%
Allamuchy, NJ1001099%
Victory Gardens, NJ1,64611212%
Stanhope, NJ3,54311616%
Bernardsville, NJ7,76616868%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Three Rivers, MI7,76575-25%
Wyoming, MN7,7641055%
Ormond-by-the-Sea, FL7,76498-2%
Lexington, TN7,77186-14%
River Rouge, MI7,76180-20%
Bernardsville, NJ7,76616868%
Source: The Bernardsville, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.