Edgewater 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.
IndexEdgewaterNew JerseyNational
Cost of living index180127100
IndexEdgewaterNew JerseyNational
Goods & Services index148114100
Groceries index128104100
Health care index115100100
Housing index279166100
Transportation index134107100
Utilities index127110100
The above illustration supplies generalized information for the Edgewater, NJ cost of living index. Compared to other cities in New Jersey and cities across the country, the cost of living index in Edgewater, NJ is 180, which is 42% higher than the New Jersey average and 80% 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 Edgewater, NJ are 30% higher than the average for New Jersey and 48% higher than the rest of the country.

Did you know?

  • The cost of living in Edgewater is 42% higher than the New Jersey average.
  • The cost of living in Edgewater is 80% higher than the national average.
  • The cost of housing in Edgewater is 179% 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 Edgewater, NJ Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Edgewater, NJ to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Edgewater, NJ, you have to earn a higher income in order to still have the same standard of living. To operate the Edgewater, NJ salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$131,000$10,917$3,056$3,930
Renters$81,098$6,758$1,892$2,433
If you want to find a good determining factor for the cost of living and the general affordability of housing in Edgewater, 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 Edgewater, NJ, the median monthly income is $131,000 for those who own their own homes. Under the standard rule, that income level would allow for $3,056 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $81,098, per the median income in the area. That would allow for renters to spend up to $1,892 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%
The New Jersey sales tax and New Jersey income tax rates should definitely be considered when determining the overall cost of living in Edgewater, 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

ItemEdgewaterNational avg.Difference
Haircut $24.02$15.5654.3%
Beauty Salon $64.92$36.1179.8%
Toothpaste $4.50$2.4782.1%
Shampoo $1.67$0.9673.1%
Movie $14.89$10.1347.1%
Bowling $13.06$4.74175.8%

Groceries

ItemEdgewaterNational avg.Difference
Ground Beef $6.10$3.9853.2%
Fried Chicken $2.04$1.4144.7%
Milk $2.45$2.0618.7%
Potatoes $3.78$2.9826.8%
Pizza $12.14$9.4728.1%
Beer $13.06$8.7948.6%

Health Care

ItemEdgewaterNational avg.Difference
Optometrist $106.66$101.045.6%
Doctor $105.00$107.442.3%
Dentist $125.00$90.4238.2%
Ibuprofen $9.99$9.287.7%
Lipitor $435.07$426.502.0%

Housing

ItemEdgewaterNational avg.Difference
Home Price $535,700.00$175,700.00204.9%
Avg. Mortgage Payment $5,496.82$1,133.23385.1%
Apartment Rent $2,001.00$920.00117.5%

Transportation

ItemEdgewaterNational avg.Difference
Gasoline $2.31$1.9916.1%
Tire Balancing $79.33$45.7673.4%

Utilities

ItemEdgewaterNational avg.Difference
All Electricity$232.72$163.8142.1%
Phone $30.77$28.398.4%
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%
Newark, NJ278,75011515%
Roselle, NJ21,34811515%
Silver Lake, NJ3,59411919%
Edgewater, NJ11,96918080%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Summerfield, MD11,97011414%
Monfort Heights, OH11,96596-4%
Mays Chapel, MD11,95713232%
Mount Washington, KY11,95691-9%
Parker, SC11,98785-15%
Edgewater, NJ11,96918080%
Source: The Edgewater, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.