Colonia 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.
IndexColoniaNew JerseyNational
Cost of living index129127100
IndexColoniaNew JerseyNational
Goods & Services index113114100
Groceries index102104100
Health care index102100100
Housing index178166100
Transportation index106107100
Utilities index109110100
The above illustration supplies generalized information for the Colonia, NJ cost of living index. Compared to other cities in New Jersey and cities across the country, the cost of living index in Colonia, NJ is 129, which is 2% higher than the New Jersey average and 29% 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 Colonia, NJ are 1% lower than the average for New Jersey and 13% higher than the rest of the country.

Did you know?

  • The cost of living in Colonia is 2% higher than the New Jersey average.
  • The cost of living in Colonia is 29% higher than the national average.
  • The cost of housing in Colonia is 78% 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 Colonia, NJ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Colonia, 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 Colonia, NJ, then you would need to earn more income in order to maintain the same standard of living. To use the Colonia, 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$97,292$8,108$2,270$2,919
Renters$42,446$3,537$990$1,274
The affordability of the housing market in Colonia, 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 Colonia, NJ homeowners, the median income is $97,292. This indicates that a monthly maximum of $2,270 should be spent by homeowners on all housing related costs. Renters have a median income of $42,446. This indicates that renters should have a maximum of $990 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 Colonia, 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

ItemColoniaNational 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

ItemColoniaNational 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

ItemColoniaNational 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

ItemColoniaNational avg.Difference
Home Price $344,700.00$175,700.0096.2%
Avg. Mortgage Payment $1,533.70$1,133.2335.3%
Apartment Rent $1,236.00$920.0034.3%

Transportation

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

Utilities

ItemColoniaNational 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.
Zarephath, NJ01099%
East Orange, NJ64,53811313%
Keansburg, NJ10,01111313%
Newark, NJ278,75011515%
Roselle, NJ21,34811515%
Colonia, NJ17,53012929%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Beckley, WV17,52987-13%
Bellaire, TX17,53316060%
Menasha, WI17,53587-13%
Arroyo Grande, CA17,53614242%
Colonial Heights, VA17,54297-3%
Colonia, NJ17,53012929%
Source: The Colonia, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.