Little Silver 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 SilverNew JerseyNational
Cost of living index188131100
IndexLittle SilverNew JerseyNational
Goods & Services index151118100
Groceries index121116100
Health care index117111100
Housing index302166100
Transportation index138118100
Utilities index133110100
Here we can see a simple outline of the cost of living in Little Silver, NJ. As you can see, with the average cost of living in Little Silver, NJ being 188, that puts it 43% higher than the average of New Jersey and 88% 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 Silver, NJ, the price of goods and services are 28% higher than the average of New Jersey as well as 51% higher than the nation's average.

Did you know?

  • The cost of living in Little Silver is 43% higher than the New Jersey average.
  • The cost of living in Little Silver is 88% higher than the national average.
  • The cost of housing in Little Silver is 202% 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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Salary Calculator

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Health care index
Housing index
Transportation index
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Use the salary calculator to compare your current income in Little Silver, 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 Little Silver, NJ, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Little Silver, 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)
One can approximate the cost of living and the housing affordability in Little Silver, 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 Silver, NJ have a median income of $138,986. Therefore, the amount that a consumer should spend on housing costs should be no more than $3,243 per month to avoid calamity and poverty. The renters in the city have an income of about $69,223, which would make their monthly maximum allowable rental costs $1,615.

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 considering the overall cost of living expenses in Little Silver, NJ, it's important to take into account the sales tax for New Jersey, as well as the rate for income tax in New Jersey. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for New Jersey is 7%, and the sales tax in the state of New Jersey is 7%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in New Jersey starts from 1.4% and goes up to 8.97%.

Goods & Services

ItemLittle SilverNational avg.Difference
Haircut $22.50$14.5954.2%
Beauty Salon $70.55$34.68103.4%
Toothpaste $4.04$2.4763.3%
Shampoo $1.14$1.0211.5%
Movie $13.83$9.8740.1%
Bowling $12.33$4.39180.8%


ItemLittle SilverNational avg.Difference
Ground Beef $4.46$4.480.4%
Fried Chicken $1.04$1.4629.0%
Milk $1.92$2.3618.5%
Potatoes $4.37$3.0642.7%
Pizza $11.49$9.2424.3%
Beer $13.09$8.6351.6%

Health Care

ItemLittle SilverNational avg.Difference
Optometrist $103.33$99.783.6%
Doctor $122.50$105.0316.6%
Dentist $117.50$88.7032.5%
Ibuprofen $10.06$9.416.9%
Lipitor $302.11$298.501.2%


ItemLittle SilverNational avg.Difference
Home Price $593,400.00$175,700.00237.7%
Avg. Mortgage Payment $4,902.79$1,081.03353.5%
Apartment Rent $2,001.00$920.00117.5%


ItemLittle SilverNational avg.Difference
Gasoline $2.64$2.0926.2%
Tire Balancing $78.00$45.2972.2%


ItemLittle SilverNational avg.Difference
All Electricity$259.80$170.8052.1%
Phone $30.33$28.267.3%
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.
Keansburg, NJ10,01113333%
Perth Amboy, NJ51,72711717%
Keyport, NJ7,21311919%
Highlands, NJ4,98514040%
Cliffwood Beach, NJ3,33112020%
Little Silver, NJ5,92018888%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Homeland, CA5,92196-4%
Greenville, PA5,91977-23%
St. Johnsbury, VT5,9221022%
Warren, AR5,91880-20%
Nocatee, FL5,92312929%
Little Silver, NJ5,92018888%
Source: The Little Silver, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.