Lambertville 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.
IndexLambertvilleNew JerseyNational
Cost of living index129127100
IndexLambertvilleNew JerseyNational
Goods & Services index113114100
Groceries index102104100
Health care index102100100
Housing index176166100
Transportation index106107100
Utilities index109110100
A general overview of the cost of living index for Lambertville, NJ is displayed above. In Lambertville, NJ, the overall cost of living index is 129, which is 2% higher than the New Jersey average and 29% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Lambertville, NJ, the city's goods and services are 1% lower than the New Jersey average and 13% higher than the U.S. average.

Did you know?

  • The cost of living in Lambertville is 2% higher than the New Jersey average.
  • The cost of living in Lambertville is 29% higher than the national average.
  • The cost of housing in Lambertville is 76% 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 Lambertville, 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 Lambertville, 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 Lambertville, NJ, you have to earn a higher income in order to still have the same standard of living. To operate the Lambertville, 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$104,540$8,712$2,439$3,137
Renters$48,816$4,068$1,139$1,465
If you want to find a good determining factor for the cost of living and the general affordability of housing in Lambertville, 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 Lambertville, NJ, the median monthly income is $104,540 for those who own their own homes. Under the standard rule, that income level would allow for $2,439 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $48,816, per the median income in the area. That would allow for renters to spend up to $1,139 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%
The New Jersey sales tax and New Jersey income tax rates should definitely be considered when determining the overall cost of living in Lambertville, NJ. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The New Jersey sales tax is 7% and the maximum surtax is 7%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The New Jersey income tax rates range from 1.4% to 8.97%.

Goods & Services

ItemLambertvilleNational 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

ItemLambertvilleNational 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

ItemLambertvilleNational 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

ItemLambertvilleNational avg.Difference
Home Price $341,500.00$175,700.0094.4%
Avg. Mortgage Payment $1,533.70$1,133.2335.3%
Apartment Rent $1,212.00$920.0031.7%

Transportation

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

Utilities

ItemLambertvilleNational 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.
Trenton, NJ84,45999-1%
Morrisville, PA8,68911414%
Fairless Hills, PA9,28911515%
Levittown, PA51,32611717%
Warminster Heights, PA4,33511717%
Lambertville, NJ3,87612929%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Florence, CO3,87584-16%
Vienna, GA3,88081-19%
Cresco, IA3,87183-17%
Riverdale, CA3,8811055%
Newcomerstown, OH3,87179-21%
Lambertville, NJ3,87612929%
Source: The Lambertville, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.