Jersey City 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.
IndexJersey CityNew JerseyNational
Cost of living index146127100
IndexJersey CityNew JerseyNational
Goods & Services index148114100
Groceries index128104100
Health care index115100100
Housing index168166100
Transportation index134107100
Utilities index127110100
A general summary of the cost of living index in Jersey City, NJ is shown above. Compared to the state average of New Jersey the cost of living index in Jersey City, NJ is 146, which is 16% higher than the average in New Jersey and compared to the national average it is 46% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Jersey City, NJ goods and services come in at 30% higher than the average in New Jersey and are 48% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Jersey City is 16% higher than the New Jersey average.
  • The cost of living in Jersey City is 46% higher than the national average.
  • The cost of housing in Jersey City is 68% 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.

Find Real Estate Listings In Jersey City

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Jersey City

Compare Jersey City, 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
The salary calculator is meant to help you compare your salary in Jersey City, NJ to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Jersey City, NJ, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Jersey City, NJ salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$91,052$7,588$2,124$2,732
Renters$46,810$3,901$1,092$1,404
If you want to find a good determining factor for the cost of living and the general affordability of housing in Jersey City, 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 Jersey City, NJ, the median monthly income is $91,052 for those who own their own homes. Under the standard rule, that income level would allow for $2,124 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $46,810, per the median income in the area. That would allow for renters to spend up to $1,092 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%
One thing to keep in mind when considering the cost of living in Jersey City, NJ is the New Jersey sales tax and New Jersey income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The New Jersey sales tax rate is 7% and the maximum surtax that can be charged is 7%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The New Jersey income tax rates range from 1.4% to 8.97%.

Goods & Services

ItemJersey CityNational avg.Difference
Haircut $24.02$15.5654.3%
Beauty Salon $64.92$36.1179.8%
Toothpaste $4.50$2.4782.1%
Shampoo $1.67$0.9673.1%
Movie $14.89$10.1347.1%
Bowling $13.06$4.74175.8%

Groceries

ItemJersey CityNational avg.Difference
Ground Beef $6.10$3.9853.2%
Fried Chicken $2.04$1.4144.7%
Milk $2.45$2.0618.7%
Potatoes $3.78$2.9826.8%
Pizza $12.14$9.4728.1%
Beer $13.06$8.7948.6%

Health Care

ItemJersey CityNational avg.Difference
Optometrist $106.66$101.045.6%
Doctor $105.00$107.442.3%
Dentist $125.00$90.4238.2%
Ibuprofen $9.99$9.287.7%
Lipitor $435.07$426.502.0%

Housing

ItemJersey CityNational avg.Difference
Home Price $323,800.00$175,700.0084.3%
Avg. Mortgage Payment $5,496.82$1,133.23385.1%
Apartment Rent $1,187.00$920.0029.0%

Transportation

ItemJersey CityNational avg.Difference
Gasoline $2.31$1.9916.1%
Tire Balancing $79.33$45.7673.4%

Utilities

ItemJersey CityNational avg.Difference
All Electricity$232.72$163.8142.1%
Phone $30.77$28.398.4%
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.
East Orange, NJ64,53811313%
Newark, NJ278,75011515%
Roselle, NJ21,34811515%
Perth Amboy, NJ51,72711717%
Silver Lake, NJ3,59411919%
Jersey City, NJ255,86114646%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Fort Wayne, IN255,78484-16%
Chula Vista, CA253,03113333%
Buffalo, NY259,95980-20%
Orlando, FL250,22496-4%
St. Petersburg, FL248,42994-6%
Jersey City, NJ255,86114646%
Source: The Jersey City, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.