Little Ferry 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.
IndexLittle FerryNew JerseyNational
Cost of living index131127100
IndexLittle FerryNew JerseyNational
Goods & Services index114114100
Groceries index106104100
Health care index100100100
Housing index180166100
Transportation index107107100
Utilities index109110100
Here we can see a simple outline of the cost of living in Little Ferry, NJ. As you can see, with the average cost of living in Little Ferry, NJ being 131, that puts it 3% higher than the average of New Jersey and 31% 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 Little Ferry, NJ, the price of goods and services are equal to the average of New Jersey as well as 14% higher than the nation's average.

Did you know?

  • The cost of living in Little Ferry is 3% higher than the New Jersey average.
  • The cost of living in Little Ferry is 31% higher than the national average.
  • The cost of housing in Little Ferry is 80% 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 Little Ferry, NJ Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Transportation index
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The salary calculator allows you to compare how much your current salary in Little Ferry, NJ would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Little Ferry, NJ, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Little Ferry, NJ salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$93,581$7,798$2,183$2,808
Renters$50,557$4,213$1,180$1,517
One can approximate the cost of living and the housing affordability in Little Ferry, NJ by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Little Ferry, NJ have a median income of $93,581. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,183 per month to avoid calamity and poverty. The renters in the city have an income of about $50,557, which would make their monthly maximum allowable rental costs $1,180.

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%
For those who live in Little Ferry, NJ and want to know what the true cost of living is, they ought to look at both the New Jersey income tax rate and the New Jersey sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In New Jersey, the sales tax is 7%, while the most you'll pay in surtax is 7%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in New Jersey, the income tax rate ranges between 1.4% to 8.97%.

Goods & Services

ItemLittle FerryNational avg.Difference
Haircut $21.07$15.5635.3%
Beauty Salon $37.27$36.113.2%
Toothpaste $2.00$2.4719.2%
Shampoo $0.99$0.962.6%
Movie $12.15$10.1320.0%
Bowling $4.22$4.7411.0%

Groceries

ItemLittle FerryNational avg.Difference
Ground Beef $3.70$3.987.2%
Fried Chicken $1.60$1.4113.9%
Milk $2.41$2.0616.8%
Potatoes $2.72$2.988.7%
Pizza $8.23$9.4713.1%
Beer $8.92$8.791.5%

Health Care

ItemLittle FerryNational avg.Difference
Optometrist $114.67$101.0413.5%
Doctor $97.00$107.449.7%
Dentist $100.58$90.4211.2%
Ibuprofen $8.64$9.286.9%
Lipitor $377.50$426.5011.5%

Housing

ItemLittle FerryNational avg.Difference
Home Price $343,800.00$175,700.0095.7%
Avg. Mortgage Payment $1,788.76$1,133.2357.8%
Apartment Rent $1,309.00$920.0042.3%

Transportation

ItemLittle FerryNational avg.Difference
Gasoline $1.95$1.992.3%
Tire Balancing $58.03$45.7626.8%

Utilities

ItemLittle FerryNational avg.Difference
All Electricity$168.80$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.
Greenville, NY5731033%
East Orange, NJ64,53811313%
Newark, NJ278,75011515%
Roselle, NJ21,34811515%
Silver Lake, NJ3,59411919%
Little Ferry, NJ10,77313131%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Key Largo, FL10,78112424%
Vail, AZ10,76411010%
Somers Point, NJ10,7831099%
Fox Lake, IL10,7571033%
Union City, TN10,79183-17%
Little Ferry, NJ10,77313131%
Source: The Little Ferry, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.