North Caldwell 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.
IndexNorth CaldwellNew JerseyNational
Cost of living index203127100
IndexNorth CaldwellNew JerseyNational
Goods & Services index116114100
Groceries index105104100
Health care index97100100
Housing index417166100
Transportation index107107100
Utilities index113110100
A general overview of the cost of living index for North Caldwell, NJ is displayed above. In North Caldwell, NJ, the overall cost of living index is 203, which is 60% higher than the New Jersey average and 103% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of North Caldwell, NJ, the city's goods and services are 1% higher than the New Jersey average and 16% higher than the U.S. average.

Did you know?

  • The cost of living in North Caldwell is 60% higher than the New Jersey average.
  • The cost of living in North Caldwell is 103% higher than the national average.
  • The cost of housing in North Caldwell is 317% 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 North Caldwell, NJ Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in North Caldwell, 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 North Caldwell, NJ, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The North Caldwell, 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$200,676$16,723$4,682$6,021
Renters$2,499$208$58$75
If you want to find a good determining factor for the cost of living and the general affordability of housing in North Caldwell, 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 North Caldwell, NJ, the median monthly income is $200,676 for those who own their own homes. Under the standard rule, that income level would allow for $4,682 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $2,499, per the median income in the area. That would allow for renters to spend up to $58 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%
When you are determining the total cost of living in North Caldwell, NJ you will want to make sure you consider both the New Jersey sales tax and the New Jersey income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in New Jersey is 7%, with the highest surtax being 7%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in New Jersey have a range from 1.4% to 8.97%.

Goods & Services

ItemNorth CaldwellNational avg.Difference
Haircut $19.93$15.5628.1%
Beauty Salon $33.60$36.116.9%
Toothpaste $2.13$2.4714.0%
Shampoo $0.98$0.961.2%
Movie $12.17$10.1320.1%
Bowling $4.51$4.744.8%

Groceries

ItemNorth CaldwellNational avg.Difference
Ground Beef $3.71$3.986.9%
Fried Chicken $1.53$1.418.7%
Milk $2.36$2.0614.5%
Potatoes $2.82$2.985.3%
Pizza $8.16$9.4713.8%
Beer $8.79$8.790.0%

Health Care

ItemNorth CaldwellNational avg.Difference
Optometrist $97.00$101.044.0%
Doctor $88.67$107.4417.5%
Dentist $100.22$90.4210.8%
Ibuprofen $8.82$9.284.9%
Lipitor $392.56$426.508.0%

Housing

ItemNorth CaldwellNational avg.Difference
Home Price $733,300.00$175,700.00317.4%
Avg. Mortgage Payment $1,696.27$1,133.2349.7%
Apartment Rent $0.00$920.00100.0%

Transportation

ItemNorth CaldwellNational avg.Difference
Gasoline $1.93$1.993.0%
Tire Balancing $58.47$45.7627.8%

Utilities

ItemNorth CaldwellNational avg.Difference
All Electricity$178.78$163.819.1%
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.
Victory Gardens, NJ1,64611212%
East Orange, NJ64,53811313%
Newark, NJ278,75011515%
Roselle, NJ21,34811515%
Silver Lake, NJ3,59411919%
North Caldwell, NJ6,407203103%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Portland, IN6,40881-19%
Santa Clara, UT6,4041088%
Laurel Bay, SC6,40498-2%
Batesville, IN6,39798-2%
Bowleys Quarters, MD6,41911313%
North Caldwell, NJ6,407203103%
Source: The North Caldwell, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.