Glen Ridge 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.
IndexGlen RidgeNew JerseyNational
Cost of living index160131100
IndexGlen RidgeNew JerseyNational
Goods & Services index115118100
Groceries index106116100
Health care index107111100
Housing index276166100
Transportation index111118100
Utilities index98110100
Displayed above is a general overview of the Glen Ridge, NJ cost of living index. The overall cost of living index in Glen Ridge, NJ is 160, which is 22% higher than the New Jersey average and 60% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Glen Ridge, NJ are 3% lower than the New Jersey average and 15% higher than the national average.

Did you know?

  • The cost of living in Glen Ridge is 22% higher than the New Jersey average.
  • The cost of living in Glen Ridge is 60% higher than the national average.
  • The cost of housing in Glen Ridge is 176% 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

This is how much you would need to earn in
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Cost of living index
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Health care index
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The salary calculator is meant to help you compare your salary in Glen Ridge, 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 Glen Ridge, NJ, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Glen Ridge, 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$185,000$15,417$4,316$5,551
Renters$46,979$3,915$1,096$1,410
One can approximate the cost of living and the housing affordability in Glen Ridge, NJ by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Glen Ridge, NJ have a median income of $185,000. Therefore, the amount that a consumer should spend on housing costs should be no more than $4,316 per month to avoid calamity and poverty. The renters in the city have an income of about $46,979, which would make their monthly maximum allowable rental costs $1,096.

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 Glen Ridge, 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

ItemGlen RidgeNational avg.Difference
Haircut $19.00$14.5930.2%
Beauty Salon $33.75$34.682.7%
Toothpaste $2.29$2.477.4%
Shampoo $1.00$1.022.2%
Movie $11.70$9.8718.6%
Bowling $4.55$4.393.6%

Groceries

ItemGlen RidgeNational avg.Difference
Ground Beef $4.39$4.481.9%
Fried Chicken $1.99$1.4635.9%
Milk $2.77$2.3617.5%
Potatoes $3.39$3.0610.7%
Pizza $8.00$9.2413.4%
Beer $9.19$8.636.5%

Health Care

ItemGlen RidgeNational avg.Difference
Optometrist $91.25$99.788.5%
Doctor $90.00$105.0314.3%
Dentist $107.25$88.7020.9%
Ibuprofen $9.49$9.410.8%
Lipitor $341.01$298.5014.2%

Housing

ItemGlen RidgeNational avg.Difference
Home Price $569,500.00$175,700.00224.1%
Avg. Mortgage Payment $1,790.20$1,081.0365.6%
Apartment Rent $1,493.00$920.0062.3%

Transportation

ItemGlen RidgeNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $59.16$45.2930.6%

Utilities

ItemGlen RidgeNational avg.Difference
All Electricity$159.41$170.806.7%
Phone $29.75$28.265.3%
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.
East Orange, NJ64,53811313%
Newark, NJ278,75011414%
Roselle, NJ21,34811414%
Plainfield, NJ50,42311717%
Silver Lake, NJ3,59412323%
Glen Ridge, NJ7,60616060%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Orange Lake, NY7,60612929%
Freeland, MI7,60897-3%
Calipatria, CA7,59994-6%
Ridgefield, CT7,59918080%
Glenside, PA7,61412121%
Glen Ridge, NJ7,60616060%
Source: The Glen Ridge, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.