Merchantville 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.
IndexMerchantvilleNew JerseyNational
Cost of living index116127100
IndexMerchantvilleNew JerseyNational
Goods & Services index108114100
Groceries index116104100
Health care index106100100
Housing index124166100
Transportation index115107100
Utilities index124110100
Here we can see a simple outline of the cost of living in Merchantville, NJ. As you can see, with the average cost of living in Merchantville, NJ being 116, that puts it 9% lower than the average of New Jersey and 16% 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 Merchantville, NJ, the price of goods and services are 5% lower than the average of New Jersey as well as 8% higher than the nation's average.

Did you know?

  • The cost of living in Merchantville is 9% lower than the New Jersey average.
  • The cost of living in Merchantville is 16% higher than the national average.
  • The cost of housing in Merchantville is 24% 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 Merchantville, NJ Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator allows you to compare how much your current salary in Merchantville, 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 Merchantville, NJ, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Merchantville, 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$91,645$7,637$2,138$2,750
Renters$33,526$2,794$782$1,006
One can approximate the cost of living and the housing affordability in Merchantville, 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 Merchantville, NJ have a median income of $91,645. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,138 per month to avoid calamity and poverty. The renters in the city have an income of about $33,526, which would make their monthly maximum allowable rental costs $782.

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 Merchantville, 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

ItemMerchantvilleNational avg.Difference
Haircut $17.96$15.5615.4%
Beauty Salon $54.38$36.1150.6%
Toothpaste $2.34$2.475.5%
Shampoo $0.99$0.962.6%
Movie $11.55$10.1314.0%
Bowling $5.13$4.748.4%

Groceries

ItemMerchantvilleNational avg.Difference
Ground Beef $3.87$3.983.0%
Fried Chicken $1.68$1.4119.2%
Milk $1.97$2.064.5%
Potatoes $3.44$2.9815.2%
Pizza $10.38$9.479.6%
Beer $8.18$8.797.0%

Health Care

ItemMerchantvilleNational avg.Difference
Optometrist $102.70$101.041.6%
Doctor $124.15$107.4415.6%
Dentist $97.92$90.428.3%
Ibuprofen $9.59$9.283.3%
Lipitor $386.87$426.509.3%

Housing

ItemMerchantvilleNational avg.Difference
Home Price $223,000.00$175,700.0026.9%
Avg. Mortgage Payment $1,520.01$1,133.2334.1%
Apartment Rent $1,069.00$920.0016.2%

Transportation

ItemMerchantvilleNational avg.Difference
Gasoline $2.23$1.9911.9%
Tire Balancing $55.56$45.7621.4%

Utilities

ItemMerchantvilleNational avg.Difference
All Electricity$182.53$163.8111.4%
Phone $40.01$28.3940.9%
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.
Pine Valley, NJ211313%
Tavistock, NJ911313%
Arcadia University, PA62311313%
Prospect Park, PA28892-8%
Audubon Park, NJ1,05194-6%
Merchantville, NJ3,80311616%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
India Hook, SC3,80498-2%
Monticello, IA3,80189-11%
Bystrom, CA3,80595-5%
Spackenkill, NY3,80013939%
Kahaluu-Keauhou, HI3,80717070%
Merchantville, NJ3,80311616%
Source: The Merchantville, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.