Mercerville, NJ Cost Of Living

Mercerville 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.
Index	Mercerville	New Jersey	National
Cost of living index	117	125	100
Index	Mercerville	New Jersey	National
Goods & Services index	111	112	100
Groceries index	104	105	100
Health care index	107	104	100
Housing index	135	158	100
Transportation index	111	112	100
Utilities index	115	115	100

A general summary of the cost of living index in Mercerville, NJ is shown above. Compared to the state average of New Jersey the cost of living index in Mercerville, NJ is 117, which is 6% lower than the average in New Jersey and compared to the national average it is 17% 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 Mercerville, NJ goods and services come in at 1% lower than the average in New Jersey and are 11% higher than compared to the nationwide average.

Did you know?

The cost of living in Mercerville is 6% lower than the New Jersey average.
The cost of living in Mercerville is 17% higher than the national average.
The cost of housing in Mercerville is 35% higher than the national average.
New Jersey general sales tax is 30% higher than the national average.
New Jersey state income tax is 37% lower than the national average.

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Use the salary calculator to compare your current salary in Mercerville, NJ to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Mercerville, NJ, then you would need to earn more income in order to maintain the same standard of living. To use the Mercerville, NJ salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$93,991	$7,833	$2,193	$2,820
Renters	$41,125	$3,427	$960	$1,234

One can approximate the cost of living and the housing affordability in Mercerville, 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 Mercerville, NJ have a median income of $93,991. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,193 per month to avoid calamity and poverty. The renters in the city have an income of about $41,125, which would make their monthly maximum allowable rental costs $960.

New Jersey Sales Tax

State	General Sales Tax	With Max Surtax
New Jersey	6.625%	12.875%

New Jersey Income Tax

State	Income Tax (Low)	Income Tax (High)
New Jersey	1.4%	8.97%

When assessing the complete cost of living in Mercerville, NJ, the New Jersey income tax and the New Jersey sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The New Jersey maximum surtax is 12.875%, and the New Jersey sales tax is 6.625%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 1.4% to 8.97% in New Jersey.

Goods & Services

Item	Mercerville	National avg.	Difference
Haircut	$19.00	$16.09	18.1%
Beauty Salon	$36.33	$37.33	2.7%
Toothpaste	$2.12	$2.45	13.2%
Shampoo	$1.06	$1.00	5.9%
Movie	$11.68	$10.28	13.6%
Bowling	$4.98	$4.93	1.0%

Groceries

Item	Mercerville	National avg.	Difference
Ground Beef	$3.45	$3.80	9.4%
Fried Chicken	$1.47	$1.40	5.0%
Milk	$2.24	$2.01	11.4%
Potatoes	$2.99	$3.01	0.7%
Pizza	$8.59	$9.89	13.1%
Beer	$9.46	$8.90	6.3%

Health Care

Item	Mercerville	National avg.	Difference
Optometrist	$108.67	$102.16	6.4%
Doctor	$93.87	$108.36	13.4%
Dentist	$115.62	$92.53	25.0%
Ibuprofen	$8.39	$9.28	9.6%
Lipitor	$465.46	$425.82	9.3%

Housing

Item	Mercerville	National avg.	Difference
Home Price	$259,900.00	$184,700.00	40.7%
Avg. Mortgage Payment	$1,644.65	$1,202.44	36.8%
Apartment Rent	$1,145.00	$949.00	20.7%

Transportation

Item	Mercerville	National avg.	Difference
Gasoline	$2.36	$2.24	5.0%
Tire Balancing	$57.32	$46.29	23.8%

Utilities

Item	Mercerville	National avg.	Difference
All Electricity	$188.22	$165.96	13.4%
Phone	$33.50	$28.68	16.8%

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, State	Population	Cost of Living Index	National Avg.
Newtown CDP, PA	250	94	-6%
Trenton, NJ	84,559	97	-3%
Morrisville CDP, PA	862	100	0%
Rossmoor, NJ	2,904	100	0%
Beverly, NJ	2,538	105	5%
Mercerville, NJ	13,328	117	17%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
North Adams, MA	13,326	97	-3%
San Marino, CA	13,324	284	184%
Fruitville, FL	13,333	113	13%
Sauk Rapids, MN	13,334	96	-4%
Bedford, IN	13,341	86	-14%
Mercerville, NJ	13,328	117	17%

Source: The Mercerville, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Mercerville, NJ Cost of Living