Heathcote 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.
IndexHeathcoteNew JerseyNational
Cost of living index133127100
IndexHeathcoteNew JerseyNational
Goods & Services index113114100
Groceries index102104100
Health care index102100100
Housing index190166100
Transportation index106107100
Utilities index109110100
An overview of the general cost of living index for Heathcote, NJ is displayed above for your reference. Residents in Heathcote, NJ enjoy a cost of living index of 133. This index is 5% higher than the New Jersey average, and 33% 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 Heathcote, NJ, the average cost of goods and services is 1% lower than it is in New Jersey, and it is 13% higher than the national average.

Did you know?

  • The cost of living in Heathcote is 5% higher than the New Jersey average.
  • The cost of living in Heathcote is 33% higher than the national average.
  • The cost of housing in Heathcote is 90% 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 Heathcote, NJ Cost of living To Other Cities

Salary Calculator

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Health care index
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Using the salary calculator lets you compare the salary you earn in Heathcote, 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 Heathcote, NJ, you have to earn a higher income in order to still have the same standard of living. To operate the Heathcote, 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$126,837$10,570$2,959$3,805
Renters$63,547$5,296$1,483$1,907
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 Heathcote, 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. Heathcote, NJ has a median income of about $126,837 for people who own homes. Based on that number, a person should spend a maximum of $2,959 on expenses related to housing. Renters have a slightly different median income, which is $63,547. Based on this average, renters should spend no more than $1,483 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 you are determining the total cost of living in Heathcote, 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

ItemHeathcoteNational avg.Difference
Haircut $19.80$15.5627.2%
Beauty Salon $31.53$36.1112.7%
Toothpaste $2.04$2.4717.4%
Shampoo $0.96$0.960.9%
Movie $12.25$10.1321.0%
Bowling $4.44$4.746.3%

Groceries

ItemHeathcoteNational avg.Difference
Ground Beef $3.72$3.986.7%
Fried Chicken $1.42$1.411.2%
Milk $2.35$2.0613.9%
Potatoes $2.76$2.987.6%
Pizza $8.16$9.4713.8%
Beer $9.12$8.793.7%

Health Care

ItemHeathcoteNational avg.Difference
Optometrist $104.60$101.043.5%
Doctor $88.87$107.4417.3%
Dentist $110.17$90.4221.8%
Ibuprofen $8.59$9.287.4%
Lipitor $389.54$426.508.7%

Housing

ItemHeathcoteNational avg.Difference
Home Price $352,400.00$175,700.00100.6%
Avg. Mortgage Payment $1,533.70$1,133.2335.3%
Apartment Rent $1,529.00$920.0066.2%

Transportation

ItemHeathcoteNational avg.Difference
Gasoline $1.92$1.993.6%
Tire Balancing $59.07$45.7629.1%

Utilities

ItemHeathcoteNational avg.Difference
All Electricity$168.73$163.813.0%
Phone $33.50$28.3918.0%
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.
Zarephath, NJ01099%
Rossmoor, NJ2,81498-2%
Trenton, NJ84,45999-1%
Clearbrook Park, NJ2,48911111%
Concordia, NJ3,09211111%
Heathcote, NJ5,66813333%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Marlow Heights, MD5,66711515%
Spencer, MA5,6701077%
Chena Ridge, AK5,67113636%
Swartz Creek, MI5,66487-13%
Cape May Court House, NJ5,66411818%
Heathcote, NJ5,66813333%
Source: The Heathcote, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.