Closter 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.
IndexClosterNew JerseyNational
Cost of living index170127100
IndexClosterNew JerseyNational
Goods & Services index114114100
Groceries index106104100
Health care index100100100
Housing index311166100
Transportation index107107100
Utilities index109110100
Displayed above is a general overview of the Closter, NJ cost of living index. The overall cost of living index in Closter, NJ is 170, which is 34% higher than the New Jersey average and 70% 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 Closter, NJ are equal to the New Jersey average and 14% higher than the national average.

Did you know?

  • The cost of living in Closter is 34% higher than the New Jersey average.
  • The cost of living in Closter is 70% higher than the national average.
  • The cost of housing in Closter is 211% 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 Closter, NJ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Closter, NJ to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Closter, NJ, then you would need to earn more income in order to maintain the same standard of living. To use the Closter, NJ salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$127,202$10,600$2,968$3,816
Renters$76,823$6,402$1,792$2,305
If you want to find a good determining factor for the cost of living and the general affordability of housing in Closter, NJ, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Closter, NJ, the median monthly income is $127,202 for those who own their own homes. Under the standard rule, that income level would allow for $2,968 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $76,823, per the median income in the area. That would allow for renters to spend up to $1,792 on monthly rental expenses.

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 considering the overall cost of living expenses in Closter, NJ, it's important to take into account the sales tax for New Jersey, as well as the rate for income tax in New Jersey. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for New Jersey is 7%, and the sales tax in the state of New Jersey is 7%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in New Jersey starts from 1.4% and goes up to 8.97%.

Goods & Services

ItemClosterNational avg.Difference
Haircut $21.07$15.5635.3%
Beauty Salon $37.27$36.113.2%
Toothpaste $2.00$2.4719.2%
Shampoo $0.99$0.962.6%
Movie $12.15$10.1320.0%
Bowling $4.22$4.7411.0%

Groceries

ItemClosterNational avg.Difference
Ground Beef $3.70$3.987.2%
Fried Chicken $1.60$1.4113.9%
Milk $2.41$2.0616.8%
Potatoes $2.72$2.988.7%
Pizza $8.23$9.4713.1%
Beer $8.92$8.791.5%

Health Care

ItemClosterNational avg.Difference
Optometrist $114.67$101.0413.5%
Doctor $97.00$107.449.7%
Dentist $100.58$90.4211.2%
Ibuprofen $8.64$9.286.9%
Lipitor $377.50$426.5011.5%

Housing

ItemClosterNational avg.Difference
Home Price $629,200.00$175,700.00258.1%
Avg. Mortgage Payment $1,788.76$1,133.2357.8%
Apartment Rent $1,861.00$920.00102.3%

Transportation

ItemClosterNational avg.Difference
Gasoline $1.95$1.992.3%
Tire Balancing $58.03$45.7626.8%

Utilities

ItemClosterNational avg.Difference
All Electricity$168.80$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.
Greenville, NY5731033%
East Orange, NJ64,53811313%
Silver Lake, NJ3,59411919%
Paterson, NJ146,34111919%
Haledon, NJ8,39712121%
Closter, NJ8,51917070%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
New Windsor, NY8,52011515%
Beverly Hills, FL8,51888-12%
Menominee, MI8,51681-19%
Sunset Hills, MO8,52312828%
Cortez, CO8,51592-8%
Closter, NJ8,51917070%
Source: The Closter, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.