Hackettstown 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.
IndexHackettstownNew JerseyNational
Cost of living index119131100
IndexHackettstownNew JerseyNational
Goods & Services index112118100
Groceries index110116100
Health care index113111100
Housing index142166100
Transportation index111118100
Utilities index97110100
An overview of the general cost of living index for Hackettstown, NJ is displayed above for your reference. Residents in Hackettstown, NJ enjoy a cost of living index of 119. This index is 9% lower than the New Jersey average, and 19% 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 Hackettstown, NJ, the average cost of goods and services is 5% lower than it is in New Jersey, and it is 12% higher than the national average.

Did you know?

  • The cost of living in Hackettstown is 9% lower than the New Jersey average.
  • The cost of living in Hackettstown is 19% higher than the national average.
  • The cost of housing in Hackettstown is 42% 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 Hackettstown, NJ Cost of living To Other Cities

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 Hackettstown, 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 Hackettstown, NJ, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Hackettstown, 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$101,875$8,490$2,377$3,057
Renters$41,364$3,447$965$1,241
One can approximate the cost of living and the housing affordability in Hackettstown, 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 Hackettstown, NJ have a median income of $101,875. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,377 per month to avoid calamity and poverty. The renters in the city have an income of about $41,364, which would make their monthly maximum allowable rental costs $965.

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 Hackettstown, 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

ItemHackettstownNational avg.Difference
Haircut $18.00$14.5923.3%
Beauty Salon $32.75$34.685.6%
Toothpaste $1.99$2.4719.5%
Shampoo $1.08$1.025.7%
Movie $11.70$9.8718.6%
Bowling $4.72$4.397.5%

Groceries

ItemHackettstownNational avg.Difference
Ground Beef $4.44$4.480.8%
Fried Chicken $1.97$1.4634.6%
Milk $2.57$2.369.1%
Potatoes $3.39$3.0610.7%
Pizza $8.00$9.2413.4%
Beer $8.79$8.631.8%

Health Care

ItemHackettstownNational avg.Difference
Optometrist $102.25$99.782.5%
Doctor $86.25$105.0317.9%
Dentist $119.50$88.7034.7%
Ibuprofen $10.32$9.419.6%
Lipitor $351.24$298.5017.7%

Housing

ItemHackettstownNational avg.Difference
Home Price $269,100.00$175,700.0053.2%
Avg. Mortgage Payment $1,607.16$1,081.0348.7%
Apartment Rent $1,073.00$920.0016.6%

Transportation

ItemHackettstownNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $58.80$45.2929.8%

Utilities

ItemHackettstownNational avg.Difference
All Electricity$155.83$170.808.8%
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.
Port Murray, NJ901099%
Delaware, NJ861099%
Allamuchy, NJ1001099%
Bridgeville, NJ991099%
Byram Center, NJ501099%
Hackettstown, NJ9,63311919%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bardmoor, FL9,63596-4%
Fort Polk South, LA9,6351055%
Frederick, CO9,63611212%
Jefferson, GA9,63098-2%
Oregon, WI9,6291066%
Hackettstown, NJ9,63311919%
Source: The Hackettstown, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.