Ramtown 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.
IndexRamtownNew JerseyNational
Cost of living index131127100
IndexRamtownNew JerseyNational
Goods & Services index113114100
Groceries index102104100
Health care index102100100
Housing index182166100
Transportation index106107100
Utilities index109110100
A general overview of the cost of living index for Ramtown, NJ is displayed above. In Ramtown, NJ, the overall cost of living index is 131, which is 3% higher than the New Jersey average and 31% 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 Ramtown, NJ, the city's goods and services are 1% lower than the New Jersey average and 13% higher than the U.S. average.

Did you know?

  • The cost of living in Ramtown is 3% higher than the New Jersey average.
  • The cost of living in Ramtown is 31% higher than the national average.
  • The cost of housing in Ramtown is 82% 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 Ramtown, NJ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Ramtown, NJ to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Ramtown, NJ, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Ramtown, NJ salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$113,805$9,484$2,655$3,414
Renters$19,600$1,633$457$588
One can approximate the cost of living and the housing affordability in Ramtown, 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 Ramtown, NJ have a median income of $113,805. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,655 per month to avoid calamity and poverty. The renters in the city have an income of about $19,600, which would make their monthly maximum allowable rental costs $457.

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 Ramtown, 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

ItemRamtownNational avg.Difference
Haircut $19.80$15.5627.2%
Beauty Salon $31.53$36.1112.7%
Toothpaste $2.04$2.4717.4%
Shampoo $0.96$0.960.9%
Movie $12.25$10.1321.0%
Bowling $4.44$4.746.3%

Groceries

ItemRamtownNational avg.Difference
Ground Beef $3.72$3.986.7%
Fried Chicken $1.42$1.411.2%
Milk $2.35$2.0613.9%
Potatoes $2.76$2.987.6%
Pizza $8.16$9.4713.8%
Beer $9.12$8.793.7%

Health Care

ItemRamtownNational avg.Difference
Optometrist $104.60$101.043.5%
Doctor $88.87$107.4417.3%
Dentist $110.17$90.4221.8%
Ibuprofen $8.59$9.287.4%
Lipitor $389.54$426.508.7%

Housing

ItemRamtownNational avg.Difference
Home Price $321,200.00$175,700.0082.8%
Avg. Mortgage Payment $1,533.70$1,133.2335.3%
Apartment Rent $1,643.00$920.0078.6%

Transportation

ItemRamtownNational avg.Difference
Gasoline $1.92$1.993.6%
Tire Balancing $59.07$45.7629.1%

Utilities

ItemRamtownNational avg.Difference
All Electricity$168.73$163.813.0%
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.
Cedar Glen West, NJ95583-17%
Cedar Glen Lakes, NJ1,52790-10%
Pine Ridge at Crestwood, NJ2,23992-8%
Crestwood Village, NJ7,70395-5%
Silver Ridge, NJ1,44798-2%
Ramtown, NJ5,88613131%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Valley Falls, SC5,88691-9%
De Soto, KS5,88898-2%
Carolina Beach, NC5,88811212%
Dahlonega, GA5,88411717%
Kingston, TN5,88882-18%
Ramtown, NJ5,88613131%
Source: The Ramtown, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.