Holiday City-Berkeley 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.
IndexHoliday City-BerkeleyNew JerseyNational
Cost of living index104131100
IndexHoliday City-BerkeleyNew JerseyNational
Goods & Services index112118100
Groceries index110116100
Health care index113111100
Housing index93166100
Transportation index111118100
Utilities index97110100
Here we can see a simple outline of the cost of living in Holiday City-Berkeley, NJ. As you can see, with the average cost of living in Holiday City-Berkeley, NJ being 104, that puts it 20% lower than the average of New Jersey and 4% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Holiday City-Berkeley, NJ, the price of goods and services are 5% lower than the average of New Jersey as well as 12% higher than the nation's average.

Did you know?

  • The cost of living in Holiday City-Berkeley is 20% lower than the New Jersey average.
  • The cost of living in Holiday City-Berkeley is 4% higher than the national average.
  • The cost of housing in Holiday City-Berkeley is 7% lower 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 Holiday City-Berkeley, NJ Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Using the salary calculator lets you compare the salary you earn in Holiday City-Berkeley, 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 Holiday City-Berkeley, NJ, you have to earn a higher income in order to still have the same standard of living. To operate the Holiday City-Berkeley, 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$30,509$2,542$712$915
Renters$36,111$3,009$843$1,083
If you want to find a good determining factor for the cost of living and the general affordability of housing in Holiday City-Berkeley, NJ, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Holiday City-Berkeley, NJ, the median monthly income is $30,509 for those who own their own homes. Under the standard rule, that income level would allow for $712 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $36,111, per the median income in the area. That would allow for renters to spend up to $843 on monthly rental expenses.

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 Holiday City-Berkeley, 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

ItemHoliday City-BerkeleyNational 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

ItemHoliday City-BerkeleyNational 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

ItemHoliday City-BerkeleyNational 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

ItemHoliday City-BerkeleyNational avg.Difference
Home Price $134,600.00$175,700.0023.4%
Avg. Mortgage Payment $1,607.16$1,081.0348.7%
Apartment Rent $1,201.00$920.0030.5%

Transportation

ItemHoliday City-BerkeleyNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $58.80$45.2929.8%

Utilities

ItemHoliday City-BerkeleyNational 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.
Cedar Glen West, NJ95583-17%
Cedar Glen Lakes, NJ1,52792-8%
Pine Ridge at Crestwood, NJ2,23992-8%
Crestwood Village, NJ7,70397-3%
Silver Ridge, NJ1,44798-2%
Holiday City-Berkeley, NJ12,0131044%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Powell, OH12,01212424%
Speedway, IN12,01288-12%
Pontiac, IL12,01287-13%
Freehold, NJ12,01812222%
Maryville, MO12,01887-13%
Holiday City-Berkeley, NJ12,0131044%
Source: The Holiday City-Berkeley, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.