Gibbstown 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.
IndexGibbstownNew JerseyNational
Cost of living index113127100
IndexGibbstownNew JerseyNational
Goods & Services index108114100
Groceries index116104100
Health care index106100100
Housing index113166100
Transportation index115107100
Utilities index124110100
A general summary of the cost of living index in Gibbstown, NJ is shown above. Compared to the state average of New Jersey the cost of living index in Gibbstown, NJ is 113, which is 11% lower than the average in New Jersey and compared to the national average it is 13% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Gibbstown, NJ goods and services come in at 5% lower than the average in New Jersey and are 8% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Gibbstown is 11% lower than the New Jersey average.
  • The cost of living in Gibbstown is 13% higher than the national average.
  • The cost of housing in Gibbstown is 13% 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 Gibbstown, NJ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Gibbstown, 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 Gibbstown, NJ, then you would need to earn more income in order to maintain the same standard of living. To use the Gibbstown, 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$76,875$6,406$1,794$2,306
Renters$34,000$2,833$793$1,020
If you want to find a good determining factor for the cost of living and the general affordability of housing in Gibbstown, 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 Gibbstown, NJ, the median monthly income is $76,875 for those who own their own homes. Under the standard rule, that income level would allow for $1,794 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $34,000, per the median income in the area. That would allow for renters to spend up to $793 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 you are determining the total cost of living in Gibbstown, NJ you will want to make sure you consider both the New Jersey sales tax and the New Jersey income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in New Jersey is 7%, with the highest surtax being 7%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in New Jersey have a range from 1.4% to 8.97%.

Goods & Services

ItemGibbstownNational avg.Difference
Haircut $17.96$15.5615.4%
Beauty Salon $54.38$36.1150.6%
Toothpaste $2.34$2.475.5%
Shampoo $0.99$0.962.6%
Movie $11.55$10.1314.0%
Bowling $5.13$4.748.4%

Groceries

ItemGibbstownNational avg.Difference
Ground Beef $3.87$3.983.0%
Fried Chicken $1.68$1.4119.2%
Milk $1.97$2.064.5%
Potatoes $3.44$2.9815.2%
Pizza $10.38$9.479.6%
Beer $8.18$8.797.0%

Health Care

ItemGibbstownNational avg.Difference
Optometrist $102.70$101.041.6%
Doctor $124.15$107.4415.6%
Dentist $97.92$90.428.3%
Ibuprofen $9.59$9.283.3%
Lipitor $386.87$426.509.3%

Housing

ItemGibbstownNational avg.Difference
Home Price $185,600.00$175,700.005.6%
Avg. Mortgage Payment $1,520.01$1,133.2334.1%
Apartment Rent $1,201.00$920.0030.5%

Transportation

ItemGibbstownNational avg.Difference
Gasoline $2.23$1.9911.9%
Tire Balancing $55.56$45.7621.4%

Utilities

ItemGibbstownNational avg.Difference
All Electricity$182.53$163.8111.4%
Phone $40.01$28.3940.9%
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.
Tavistock, NJ911313%
Cheyney University, PA9291077%
Prospect Park, PA28892-8%
Audubon Park, NJ1,05194-6%
Chester, PA34,00791-9%
Gibbstown, NJ3,59411313%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Silver Lake, NJ3,59411919%
Brices Creek, NC3,59311010%
Camden, TN3,59681-19%
Oregon, IL3,59285-15%
Greenhills, OH3,59790-10%
Gibbstown, NJ3,59411313%
Source: The Gibbstown, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.