Raritan 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.
IndexRaritanNew JerseyNational
Cost of living index129131100
IndexRaritanNew JerseyNational
Goods & Services index112118100
Groceries index110116100
Health care index113111100
Housing index176166100
Transportation index111118100
Utilities index97110100
Here we can see a simple outline of the cost of living in Raritan, NJ. As you can see, with the average cost of living in Raritan, NJ being 129, that puts it 1% lower than the average of New Jersey and 29% 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 Raritan, NJ, the price of goods and services are 5% lower than the average of New Jersey as well as 12% higher than the nation's average.

Did you know?

  • The cost of living in Raritan is 1% lower than the New Jersey average.
  • The cost of living in Raritan is 29% higher than the national average.
  • The cost of housing in Raritan is 76% 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 Raritan, NJ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Raritan, 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 Raritan, NJ, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Raritan, 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$87,639$7,303$2,045$2,629
Renters$57,667$4,806$1,345$1,730
If you want to find a good determining factor for the cost of living and the general affordability of housing in Raritan, 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 Raritan, NJ, the median monthly income is $87,639 for those who own their own homes. Under the standard rule, that income level would allow for $2,045 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $57,667, per the median income in the area. That would allow for renters to spend up to $1,345 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 Raritan, 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

ItemRaritanNational avg.Difference
Haircut $18.00$14.5923.3%
Beauty Salon $32.75$34.685.6%
Toothpaste $1.99$2.4719.5%
Shampoo $1.08$1.025.7%
Movie $11.70$9.8718.6%
Bowling $4.72$4.397.5%

Groceries

ItemRaritanNational avg.Difference
Ground Beef $4.44$4.480.8%
Fried Chicken $1.97$1.4634.6%
Milk $2.57$2.369.1%
Potatoes $3.39$3.0610.7%
Pizza $8.00$9.2413.4%
Beer $8.79$8.631.8%

Health Care

ItemRaritanNational avg.Difference
Optometrist $102.25$99.782.5%
Doctor $86.25$105.0317.9%
Dentist $119.50$88.7034.7%
Ibuprofen $10.32$9.419.6%
Lipitor $351.24$298.5017.7%

Housing

ItemRaritanNational avg.Difference
Home Price $331,900.00$175,700.0088.9%
Avg. Mortgage Payment $1,607.16$1,081.0348.7%
Apartment Rent $1,332.00$920.0044.8%

Transportation

ItemRaritanNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $58.80$45.2929.8%

Utilities

ItemRaritanNational avg.Difference
All Electricity$155.83$170.808.8%
Phone $29.75$28.265.3%
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.
Zarephath, NJ01099%
Plainfield, NJ50,42311717%
Spotswood, NJ8,35911919%
New Brunswick, NJ55,80411919%
South Bound Brook, NJ4,58511919%
Raritan, NJ7,31812929%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Clarkston, WA7,31886-14%
Ione, CA7,31811515%
Williston Park, NY7,31916969%
Dunellen, NJ7,31712323%
Gonzales, TX7,31779-21%
Raritan, NJ7,31812929%
Source: The Raritan, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.