Oceanport 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.
IndexOceanportNew JerseyNational
Cost of living index158131100
IndexOceanportNew JerseyNational
Goods & Services index151118100
Groceries index121116100
Health care index117111100
Housing index201166100
Transportation index138118100
Utilities index133110100
A general summary of the cost of living index in Oceanport, NJ is shown above. Compared to the state average of New Jersey the cost of living index in Oceanport, NJ is 158, which is 20% higher than the average in New Jersey and compared to the national average it is 58% 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 Oceanport, NJ goods and services come in at 28% higher than the average in New Jersey and are 51% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Oceanport is 20% higher than the New Jersey average.
  • The cost of living in Oceanport is 58% higher than the national average.
  • The cost of housing in Oceanport is 101% 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
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The salary calculator is used in order to provide a comparison of your current salary in Oceanport, 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 Oceanport, NJ, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Oceanport, 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$109,219$9,102$2,548$3,277
Renters$31,250$2,604$729$938
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Oceanport, NJ, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Oceanport, NJ has a median income of about $109,219 for people who own homes. Based on that number, a person should spend a maximum of $2,548 on expenses related to housing. Renters have a slightly different median income, which is $31,250. Based on this average, renters should spend no more than $729 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 assessing the complete cost of living in Oceanport, 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 7%, and the New Jersey sales tax is 7%. 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

ItemOceanportNational 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%

Groceries

ItemOceanportNational 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

ItemOceanportNational 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%

Housing

ItemOceanportNational avg.Difference
Home Price $448,100.00$175,700.00155.0%
Avg. Mortgage Payment $4,902.79$1,081.03353.5%
Apartment Rent $687.00$920.0025.3%

Transportation

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

Utilities

ItemOceanportNational 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%
Oceanport, NJ5,83415858%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Mount Carmel, PA5,83382-18%
Roseland, NJ5,83515656%
Old Tappan, NJ5,83519292%
Homestead Meadows South, TX5,83180-20%
Washingtonville, NY5,83712525%
Oceanport, NJ5,83415858%
Source: The Oceanport, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.