Golden Triangle 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.
IndexGolden TriangleNew JerseyNational
Cost of living index118127100
IndexGolden TriangleNew JerseyNational
Goods & Services index108114100
Groceries index116104100
Health care index106100100
Housing index129166100
Transportation index115107100
Utilities index124110100
The above illustration supplies generalized information for the Golden Triangle, NJ cost of living index. Compared to other cities in New Jersey and cities across the country, the cost of living index in Golden Triangle, NJ is 118, which is 7% lower than the New Jersey average and 18% 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 Golden Triangle, NJ are 5% lower than the average for New Jersey and 8% higher than the rest of the country.

Did you know?

  • The cost of living in Golden Triangle is 7% lower than the New Jersey average.
  • The cost of living in Golden Triangle is 18% higher than the national average.
  • The cost of housing in Golden Triangle is 29% 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 Golden Triangle, 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 Golden Triangle, 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 Golden Triangle, NJ, you have to earn a higher income in order to still have the same standard of living. To operate the Golden Triangle, 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$74,554$6,213$1,739$2,237
Renters$33,354$2,780$778$1,001
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Golden Triangle, NJ as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Golden Triangle, NJ homeowners, is $74,554. This would allow for a maximum of $1,739 per month to be spent on housing costs. For renters, the median monthly income is $33,354 which would result in a maximum of $778 to be spent on rental costs.

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 Golden Triangle, 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

ItemGolden TriangleNational 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

ItemGolden TriangleNational 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

ItemGolden TriangleNational 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

ItemGolden TriangleNational avg.Difference
Home Price $212,800.00$175,700.0021.1%
Avg. Mortgage Payment $1,520.01$1,133.2334.1%
Apartment Rent $1,368.00$920.0048.7%

Transportation

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

Utilities

ItemGolden TriangleNational 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.
Arcadia University, PA62311313%
Pine Valley, NJ211313%
Tavistock, NJ911313%
Prospect Park, PA28892-8%
Audubon Park, NJ1,05194-6%
Golden Triangle, NJ3,75111818%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
South Duxbury, MA3,75217878%
Enon, VA3,75298-2%
West Liberty, IA3,75093-7%
Whitesboro, NY3,74990-10%
Narragansett Pier, RI3,74914545%
Golden Triangle, NJ3,75111818%
Source: The Golden Triangle, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.