Shark River Hills 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.
IndexShark River HillsNew JerseyNational
Cost of living index133131100
IndexShark River HillsNew JerseyNational
Goods & Services index112118100
Groceries index110116100
Health care index113111100
Housing index188166100
Transportation index111118100
Utilities index97110100
The above illustration supplies generalized information for the Shark River Hills, NJ cost of living index. Compared to other cities in New Jersey and cities across the country, the cost of living index in Shark River Hills, NJ is 133, which is 1% higher than the New Jersey average and 33% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Shark River Hills, NJ are 5% lower than the average for New Jersey and 12% higher than the rest of the country.

Did you know?

  • The cost of living in Shark River Hills is 1% higher than the New Jersey average.
  • The cost of living in Shark River Hills is 33% higher than the national average.
  • The cost of housing in Shark River Hills is 88% 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.

Find Real Estate Listings In Shark River Hills

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Shark River Hills

Compare Shark River Hills, NJ Cost of living To Other Cities

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
Using the salary calculator lets you compare the salary you earn in Shark River Hills, NJ to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Shark River Hills, NJ, you have to earn a higher income in order to still have the same standard of living. To operate the Shark River Hills, NJ salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$86,250$7,188$2,012$2,588
Renters$100,556$8,380$2,346$3,017
The affordability of the housing market in Shark River Hills, NJ as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Shark River Hills, NJ homeowners, the median income is $86,250. This indicates that a monthly maximum of $2,012 should be spent by homeowners on all housing related costs. Renters have a median income of $100,556. This indicates that renters should have a maximum of $2,346 used for their rent related monthly costs.

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 Shark River Hills, 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

ItemShark River HillsNational 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

ItemShark River HillsNational 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

ItemShark River HillsNational 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

ItemShark River HillsNational avg.Difference
Home Price $332,700.00$175,700.0089.4%
Avg. Mortgage Payment $1,607.16$1,081.0348.7%
Apartment Rent $1,714.00$920.0086.3%

Transportation

ItemShark River HillsNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $58.80$45.2929.8%

Utilities

ItemShark River HillsNational 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.
Cedar Glen West, NJ95583-17%
Leisure Village, NJ4,20198-2%
Leisure Village West, NJ3,2911000%
Leisure Knoll, NJ2,4531066%
Leisure Village East, NJ3,6891099%
Shark River Hills, NJ3,77013333%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lafayette, OR3,77011010%
Polk City, IA3,77097-3%
North Muskegon, MI3,76990-10%
Wonder Lake, IL3,769100-0%
Carter Lake, IA3,77186-14%
Shark River Hills, NJ3,77013333%
Source: The Shark River Hills, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.