Port Monmouth 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.
IndexPort MonmouthNew JerseyNational
Cost of living index147131100
IndexPort MonmouthNew JerseyNational
Goods & Services index151118100
Groceries index121116100
Health care index117111100
Housing index167166100
Transportation index138118100
Utilities index133110100
A general summary of the cost of living index in Port Monmouth, NJ is shown above. Compared to the state average of New Jersey the cost of living index in Port Monmouth, NJ is 147, which is 12% higher than the average in New Jersey and compared to the national average it is 47% 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 Port Monmouth, 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 Port Monmouth is 12% higher than the New Jersey average.
  • The cost of living in Port Monmouth is 47% higher than the national average.
  • The cost of housing in Port Monmouth is 67% 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

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 allows you to compare how much your current salary in Port Monmouth, 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 Port Monmouth, NJ, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Port Monmouth, 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)
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Port Monmouth, NJ, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Port Monmouth, NJ homeowners have a median income of $97,065. Using that number, you will come up with a maximum of $2,265 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $38,565, which means there is a maximum of $900 to be spent on the costs of renting a home or apartment.

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 Port Monmouth, 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

ItemPort MonmouthNational 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%


ItemPort MonmouthNational 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

ItemPort MonmouthNational 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%


ItemPort MonmouthNational avg.Difference
Home Price $304,400.00$175,700.0073.2%
Avg. Mortgage Payment $4,902.79$1,081.03353.5%
Apartment Rent $1,408.00$920.0053.0%


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


ItemPort MonmouthNational 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%
Carteret, NJ23,77011919%
Highlands, NJ4,98514040%
Port Monmouth, NJ3,91514747%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Montesano, WA3,9151000%
Gouverneur, NY3,91594-6%
Hardeeville, SC3,91411111%
Belleville, MI3,91486-14%
East Flat Rock, NC3,91789-11%
Port Monmouth, NJ3,91514747%
Source: The Port Monmouth, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.