Fort Lee 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.
IndexFort LeeNew JerseyNational
Cost of living index151131100
IndexFort LeeNew JerseyNational
Goods & Services index151118100
Groceries index121116100
Health care index117111100
Housing index179166100
Transportation index138118100
Utilities index133110100
An overview of the general cost of living index for Fort Lee, NJ is displayed above for your reference. Residents in Fort Lee, NJ enjoy a cost of living index of 151. This index is 15% higher than the New Jersey average, and 51% 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 Fort Lee, NJ, the average cost of goods and services is 28% higher than it is in New Jersey, and it is 51% higher than the national average.

Did you know?

  • The cost of living in Fort Lee is 15% higher than the New Jersey average.
  • The cost of living in Fort Lee is 51% higher than the national average.
  • The cost of housing in Fort Lee is 79% 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 Fort Lee, NJ Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator is meant to help you compare your salary in Fort Lee, NJ to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Fort Lee, NJ, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Fort Lee, NJ salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$82,893$6,908$1,934$2,487
Renters$51,462$4,289$1,201$1,544
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Fort Lee, NJ, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Fort Lee, NJ has a median income of about $82,893 for people who own homes. Based on that number, a person should spend a maximum of $1,934 on expenses related to housing. Renters have a slightly different median income, which is $51,462. Based on this average, renters should spend no more than $1,201 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 assessing the complete cost of living in Fort Lee, NJ, the New Jersey income tax and the New Jersey sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The New Jersey maximum surtax is 7%, and the New Jersey sales tax is 7%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 1.4% to 8.97% in New Jersey.

Goods & Services

ItemFort LeeNational avg.Difference
Haircut $22.50$14.5954.2%
Beauty Salon $70.55$34.68103.4%
Toothpaste $4.04$2.4763.3%
Shampoo $1.14$1.0211.5%
Movie $13.83$9.8740.1%
Bowling $12.33$4.39180.8%

Groceries

ItemFort LeeNational avg.Difference
Ground Beef $4.46$4.480.4%
Fried Chicken $1.04$1.4629.0%
Milk $1.92$2.3618.5%
Potatoes $4.37$3.0642.7%
Pizza $11.49$9.2424.3%
Beer $13.09$8.6351.6%

Health Care

ItemFort LeeNational avg.Difference
Optometrist $103.33$99.783.6%
Doctor $122.50$105.0316.6%
Dentist $117.50$88.7032.5%
Ibuprofen $10.06$9.416.9%
Lipitor $302.11$298.501.2%

Housing

ItemFort LeeNational avg.Difference
Home Price $328,800.00$175,700.0087.1%
Avg. Mortgage Payment $4,902.79$1,081.03353.5%
Apartment Rent $1,464.00$920.0059.1%

Transportation

ItemFort LeeNational avg.Difference
Gasoline $2.64$2.0926.2%
Tire Balancing $78.00$45.2972.2%

Utilities

ItemFort LeeNational avg.Difference
All Electricity$259.80$170.8052.1%
Phone $30.33$28.267.3%
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, NY5731044%
East Orange, NJ64,53811313%
Newark, NJ278,75011414%
Silver Lake, NJ3,59412323%
Paterson, NJ146,34111919%
Fort Lee, NJ36,04815151%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Hollister, CA36,06712424%
Del Rio, TX36,08183-17%
Temple City, CA36,00616060%
Rome, GA36,09988-12%
Franklin, WI35,9201066%
Fort Lee, NJ36,04815151%
Source: The Fort Lee, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.