Kinnelon 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.
IndexKinnelonNew JerseyNational
Cost of living index161131100
IndexKinnelonNew JerseyNational
Goods & Services index115118100
Groceries index106116100
Health care index107111100
Housing index281166100
Transportation index111118100
Utilities index98110100
A general summary of the cost of living index in Kinnelon, NJ is shown above. Compared to the state average of New Jersey the cost of living index in Kinnelon, NJ is 161, which is 23% higher than the average in New Jersey and compared to the national average it is 61% 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 Kinnelon, NJ goods and services come in at 3% lower than the average in New Jersey and are 15% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Kinnelon is 23% higher than the New Jersey average.
  • The cost of living in Kinnelon is 61% higher than the national average.
  • The cost of housing in Kinnelon is 181% 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 Kinnelon, NJ Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Kinnelon, 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 Kinnelon, NJ, you have to earn a higher income in order to still have the same standard of living. To operate the Kinnelon, 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$137,855$11,488$3,216$4,136
Renters$66,795$5,566$1,558$2,004
The affordability of the housing market in Kinnelon, NJ as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Kinnelon, NJ homeowners, the median income is $137,855. This indicates that a monthly maximum of $3,216 should be spent by homeowners on all housing related costs. Renters have a median income of $66,795. This indicates that renters should have a maximum of $1,558 used for their rent related monthly costs.

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 Kinnelon, 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

ItemKinnelonNational avg.Difference
Haircut $19.00$14.5930.2%
Beauty Salon $33.75$34.682.7%
Toothpaste $2.29$2.477.4%
Shampoo $1.00$1.022.2%
Movie $11.70$9.8718.6%
Bowling $4.55$4.393.6%

Groceries

ItemKinnelonNational avg.Difference
Ground Beef $4.39$4.481.9%
Fried Chicken $1.99$1.4635.9%
Milk $2.77$2.3617.5%
Potatoes $3.39$3.0610.7%
Pizza $8.00$9.2413.4%
Beer $9.19$8.636.5%

Health Care

ItemKinnelonNational avg.Difference
Optometrist $91.25$99.788.5%
Doctor $90.00$105.0314.3%
Dentist $107.25$88.7020.9%
Ibuprofen $9.49$9.410.8%
Lipitor $341.01$298.5014.2%

Housing

ItemKinnelonNational avg.Difference
Home Price $549,100.00$175,700.00212.5%
Avg. Mortgage Payment $1,790.20$1,081.0365.6%
Apartment Rent $1,894.00$920.00105.9%

Transportation

ItemKinnelonNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $59.16$45.2930.6%

Utilities

ItemKinnelonNational avg.Difference
All Electricity$159.41$170.806.7%
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.
Vernon Center, NJ2,0111088%
Victory Gardens, NJ1,64611212%
East Orange, NJ64,53811313%
Franklin, NJ4,99411313%
Hamburg, NJ3,22511414%
Kinnelon, NJ10,34916161%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Burley, ID10,35285-15%
Belmont, NC10,34696-4%
Oak Grove, SC10,34496-4%
Pella, IA10,34392-8%
Sebring, FL10,35690-10%
Kinnelon, NJ10,34916161%
Source: The Kinnelon, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.