Highland Park 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.
IndexHighland ParkNew JerseyNational
Cost of living index132131100
IndexHighland ParkNew JerseyNational
Goods & Services index112118100
Groceries index110116100
Health care index113111100
Housing index185166100
Transportation index111118100
Utilities index97110100
Displayed above is a general overview of the Highland Park, NJ cost of living index. The overall cost of living index in Highland Park, NJ is 132, which is 1% higher than the New Jersey average and 32% 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 Highland Park, NJ are 5% lower than the New Jersey average and 12% higher than the national average.

Did you know?

  • The cost of living in Highland Park is 1% higher than the New Jersey average.
  • The cost of living in Highland Park is 32% higher than the national average.
  • The cost of housing in Highland Park is 85% 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 Highland Park, NJ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Highland Park, 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 Highland Park, NJ, then you would need to earn more income in order to maintain the same standard of living. To use the Highland Park, 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$124,079$10,340$2,895$3,723
Renters$50,767$4,231$1,184$1,523
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 Highland Park, 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. Highland Park, NJ has a median income of about $124,079 for people who own homes. Based on that number, a person should spend a maximum of $2,895 on expenses related to housing. Renters have a slightly different median income, which is $50,767. Based on this average, renters should spend no more than $1,184 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 assessing the complete cost of living in Highland Park, 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

ItemHighland ParkNational 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

ItemHighland ParkNational 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

ItemHighland ParkNational 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

ItemHighland ParkNational avg.Difference
Home Price $359,800.00$175,700.00104.8%
Avg. Mortgage Payment $1,607.16$1,081.0348.7%
Apartment Rent $1,268.00$920.0037.8%

Transportation

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

Utilities

ItemHighland ParkNational 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.
Zarephath, NJ01099%
Rossmoor, NJ2,81498-2%
Clearbrook Park, NJ2,48911111%
Concordia, NJ3,09211111%
Keansburg, NJ10,01113333%
Highland Park, NJ14,22413232%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Jackson, MO14,22196-4%
White Center, WA14,22811717%
Berea, SC14,23092-8%
Olean, NY14,23280-20%
Live Oak, TX14,21389-11%
Highland Park, NJ14,22413232%
Source: The Highland Park, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.