Cost Of Living In Buena, NJ

Buena 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.
Index	Buena	New Jersey	National
Cost of living index	110	127	100
Index	Buena	New Jersey	National
Goods & Services index	108	114	100
Groceries index	116	104	100
Health care index	106	100	100
Housing index	104	166	100
Transportation index	115	107	100
Utilities index	124	110	100

An overview of the general cost of living index for Buena, NJ is displayed above for your reference. Residents in Buena, NJ enjoy a cost of living index of 110. This index is 13% lower than the New Jersey average, and 10% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Buena, NJ, the average cost of goods and services is 5% lower than it is in New Jersey, and it is 8% higher than the national average.

Did you know?

The cost of living in Buena is 13% lower than the New Jersey average.
The cost of living in Buena is 10% higher than the national average.
The cost of housing in Buena is 4% 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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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Use the salary calculator to compare your current income in Buena, NJ to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Buena, NJ, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Buena, NJ salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$76,444	$6,370	$1,784	$2,294
Renters	$30,746	$2,562	$717	$922

One can approximate the cost of living and the housing affordability in Buena, NJ by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Buena, NJ have a median income of $76,444. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,784 per month to avoid calamity and poverty. The renters in the city have an income of about $30,746, which would make their monthly maximum allowable rental costs $717.

New Jersey Sales Tax

State	General Sales Tax	With Max Surtax
New Jersey	7%	7%

New Jersey Income Tax

State	Income Tax (Low)	Income Tax (High)
New Jersey	1.4%	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 Buena, 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

Item	Buena	National avg.	Difference
Haircut	$17.96	$15.56	15.4%
Beauty Salon	$54.38	$36.11	50.6%
Toothpaste	$2.34	$2.47	5.5%
Shampoo	$0.99	$0.96	2.6%
Movie	$11.55	$10.13	14.0%
Bowling	$5.13	$4.74	8.4%

Groceries

Item	Buena	National avg.	Difference
Ground Beef	$3.87	$3.98	3.0%
Fried Chicken	$1.68	$1.41	19.2%
Milk	$1.97	$2.06	4.5%
Potatoes	$3.44	$2.98	15.2%
Pizza	$10.38	$9.47	9.6%
Beer	$8.18	$8.79	7.0%

Health Care

Item	Buena	National avg.	Difference
Optometrist	$102.70	$101.04	1.6%
Doctor	$124.15	$107.44	15.6%
Dentist	$97.92	$90.42	8.3%
Ibuprofen	$9.59	$9.28	3.3%
Lipitor	$386.87	$426.50	9.3%

Housing

Item	Buena	National avg.	Difference
Home Price	$189,800.00	$175,700.00	8.0%
Avg. Mortgage Payment	$1,520.01	$1,133.23	34.1%
Apartment Rent	$861.00	$920.00	6.4%

Transportation

Item	Buena	National avg.	Difference
Gasoline	$2.23	$1.99	11.9%
Tire Balancing	$55.56	$45.76	21.4%

Utilities

Item	Buena	National avg.	Difference
All Electricity	$182.53	$163.81	11.4%
Phone	$40.01	$28.39	40.9%

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, State	Population	Cost of Living Index	National Avg.
Seabrook Farms, NJ	995	92	-8%
Laurel Lake, NJ	2,965	94	-6%
Bridgeton, NJ	25,252	95	-5%
Elwood, NJ	1,613	102	2%
Fairton, NJ	1,182	96	-4%
Buena, NJ	4,623	110	10%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Hancock, MI	4,622	85	-15%
Wellsville, NY	4,621	78	-22%
Buffalo, WY	4,620	96	-4%
Becker, MN	4,626	101	1%
Boiling Springs, NC	4,619	92	-8%
Buena, NJ	4,623	110	10%

Source: The Buena, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Buena, NJ Cost of Living