Martinsville 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.
IndexMartinsvilleNew JerseyNational
Cost of living index159127100
IndexMartinsvilleNew JerseyNational
Goods & Services index113114100
Groceries index102104100
Health care index102100100
Housing index277166100
Transportation index106107100
Utilities index109110100
Here we can see a simple outline of the cost of living in Martinsville, NJ. As you can see, with the average cost of living in Martinsville, NJ being 159, that puts it 26% higher than the average of New Jersey and 59% 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 Martinsville, NJ, the price of goods and services are 1% lower than the average of New Jersey as well as 13% higher than the nation's average.

Did you know?

  • The cost of living in Martinsville is 26% higher than the New Jersey average.
  • The cost of living in Martinsville is 59% higher than the national average.
  • The cost of housing in Martinsville is 177% 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 Martinsville, 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 used in order to provide a comparison of your current salary in Martinsville, NJ to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Martinsville, NJ, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Martinsville, NJ salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$139,667$11,639$3,259$4,190
Renters$38,971$3,248$909$1,169
If you want to find a good determining factor for the cost of living and the general affordability of housing in Martinsville, 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 Martinsville, NJ, the median monthly income is $139,667 for those who own their own homes. Under the standard rule, that income level would allow for $3,259 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $38,971, per the median income in the area. That would allow for renters to spend up to $909 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 Martinsville, 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

ItemMartinsvilleNational 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

ItemMartinsvilleNational 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

ItemMartinsvilleNational 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

ItemMartinsvilleNational avg.Difference
Home Price $530,300.00$175,700.00201.8%
Avg. Mortgage Payment $1,533.70$1,133.2335.3%
Apartment Rent $2,001.00$920.00117.5%

Transportation

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

Utilities

ItemMartinsvilleNational 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.
Zarephath, NJ01099%
Plainfield, NJ50,42311717%
Spotswood, NJ8,35911818%
New Brunswick, NJ55,80411818%
South Bound Brook, NJ4,58511919%
Martinsville, NJ11,91415959%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Guymon, OK11,92181-19%
Crestwood, MO11,93499-1%
Prairie Ridge, WA11,93511212%
New Kingman-Butler, AZ11,89282-18%
Blackfoot, ID11,89185-15%
Martinsville, NJ11,91415959%
Source: The Martinsville, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.