Fair Haven 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.
IndexFair HavenNew JerseyNational
Cost of living index191127100
IndexFair HavenNew JerseyNational
Goods & Services index148114100
Groceries index128104100
Health care index115100100
Housing index317166100
Transportation index134107100
Utilities index127110100
The above illustration supplies generalized information for the Fair Haven, NJ cost of living index. Compared to other cities in New Jersey and cities across the country, the cost of living index in Fair Haven, NJ is 191, which is 51% higher than the New Jersey average and 91% 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 Fair Haven, 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 Fair Haven is 51% higher than the New Jersey average.
  • The cost of living in Fair Haven is 91% higher than the national average.
  • The cost of housing in Fair Haven is 217% 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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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 Fair Haven, 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 Fair Haven, NJ, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Fair Haven, 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$147,399$12,283$3,439$4,422
Renters$52,688$4,391$1,229$1,581
If you want to find a good determining factor for the cost of living and the general affordability of housing in Fair Haven, 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 Fair Haven, NJ, the median monthly income is $147,399 for those who own their own homes. Under the standard rule, that income level would allow for $3,439 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $52,688, per the median income in the area. That would allow for renters to spend up to $1,229 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%
For those who live in Fair Haven, 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

ItemFair HavenNational 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

ItemFair HavenNational 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

ItemFair HavenNational 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

ItemFair HavenNational avg.Difference
Home Price $649,700.00$175,700.00269.8%
Avg. Mortgage Payment $5,496.82$1,133.23385.1%
Apartment Rent $1,789.00$920.0094.5%

Transportation

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

Utilities

ItemFair HavenNational 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.
Keansburg, NJ10,01111313%
Perth Amboy, NJ51,72711717%
Keyport, NJ7,21311818%
Highlands, NJ4,98513939%
Cliffwood Beach, NJ3,33112020%
Fair Haven, NJ6,09319191%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Gas City, IN6,09384-16%
Cold Spring, KY6,09398-2%
Canutillo, TX6,09181-19%
Naples Manor, FL6,09690-10%
Edgemoor, DE6,0891099%
Fair Haven, NJ6,09319191%
Source: The Fair Haven, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.