Hopatcong 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.
IndexHopatcongNew JerseyNational
Cost of living index122127100
IndexHopatcongNew JerseyNational
Goods & Services index113114100
Groceries index102104100
Health care index102100100
Housing index152166100
Transportation index106107100
Utilities index109110100
The above illustration supplies generalized information for the Hopatcong, NJ cost of living index. Compared to other cities in New Jersey and cities across the country, the cost of living index in Hopatcong, NJ is 122, which is 4% lower than the New Jersey average and 22% 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 Hopatcong, NJ are 1% lower than the average for New Jersey and 13% higher than the rest of the country.

Did you know?

  • The cost of living in Hopatcong is 4% lower than the New Jersey average.
  • The cost of living in Hopatcong is 22% higher than the national average.
  • The cost of housing in Hopatcong is 52% 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 Hopatcong, NJ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Hopatcong, NJ to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Hopatcong, NJ, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Hopatcong, NJ salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$89,448$7,454$2,087$2,684
Renters$69,333$5,778$1,618$2,080
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 Hopatcong, 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. Hopatcong, NJ has a median income of about $89,448 for people who own homes. Based on that number, a person should spend a maximum of $2,087 on expenses related to housing. Renters have a slightly different median income, which is $69,333. Based on this average, renters should spend no more than $1,618 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 Hopatcong, 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

ItemHopatcongNational 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

ItemHopatcongNational 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

ItemHopatcongNational 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

ItemHopatcongNational avg.Difference
Home Price $242,400.00$175,700.0038.0%
Avg. Mortgage Payment $1,533.70$1,133.2335.3%
Apartment Rent $1,693.00$920.0084.0%

Transportation

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

Utilities

ItemHopatcongNational 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.
Ross Corner, NJ011010%
Port Murray, NJ901099%
Byram Center, NJ501099%
Allamuchy, NJ1001099%
Crandon Lakes, NJ1,4221088%
Hopatcong, NJ14,92112222%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Owosso, MI14,92283-17%
Upper Grand Lagoon, FL14,91798-2%
Cullman, AL14,93388-12%
Dumas, TX14,90881-19%
Horsham, PA14,93612121%
Hopatcong, NJ14,92112222%
Source: The Hopatcong, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.