Smithville, NJ Cost Of Living

Smithville 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.
Index	Smithville	New Jersey	National
Cost of living index	116	125	100
Index	Smithville	New Jersey	National
Goods & Services index	107	112	100
Groceries index	116	105	100
Health care index	106	104	100
Housing index	123	158	100
Transportation index	115	112	100
Utilities index	125	115	100

Displayed above is a general overview of the Smithville, NJ cost of living index. The overall cost of living index in Smithville, NJ is 116, which is 7% lower than the New Jersey average and 16% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Smithville, NJ are 4% lower than the New Jersey average and 7% higher than the national average.

Did you know?

The cost of living in Smithville is 7% lower than the New Jersey average.
The cost of living in Smithville is 16% higher than the national average.
The cost of housing in Smithville is 23% higher than the national average.
New Jersey general sales tax is 30% higher than the national average.
New Jersey state income tax is 37% lower than the national average.

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Compare Smithville, NJ Cost of living To Other Cities

Salary Calculator

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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 Smithville, 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 Smithville, NJ, you have to earn a higher income in order to still have the same standard of living. To operate the Smithville, 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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$60,253	$5,021	$1,406	$1,808
Renters	$54,211	$4,518	$1,265	$1,626

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Smithville, NJ as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Smithville, NJ homeowners, is $60,253. This would allow for a maximum of $1,406 per month to be spent on housing costs. For renters, the median monthly income is $54,211 which would result in a maximum of $1,265 to be spent on rental costs.

New Jersey Sales Tax

State	General Sales Tax	With Max Surtax
New Jersey	6.625%	12.875%

New Jersey Income Tax

State	Income Tax (Low)	Income Tax (High)
New Jersey	1.4%	8.97%

When you are determining the total cost of living in Smithville, 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 6.625%, with the highest surtax being 12.875%. 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

Item	Smithville	National avg.	Difference
Haircut	$18.39	$16.09	14.3%
Beauty Salon	$56.27	$37.33	50.7%
Toothpaste	$2.19	$2.45	10.5%
Shampoo	$0.99	$1.00	1.1%
Movie	$12.27	$10.28	19.3%
Bowling	$5.21	$4.93	5.6%

Groceries

Item	Smithville	National avg.	Difference
Ground Beef	$4.16	$3.80	9.3%
Fried Chicken	$1.46	$1.40	4.3%
Milk	$2.11	$2.01	4.9%
Potatoes	$3.82	$3.01	27.0%
Pizza	$10.33	$9.89	4.5%
Beer	$8.63	$8.90	3.0%

Health Care

Item	Smithville	National avg.	Difference
Optometrist	$100.71	$102.16	1.4%
Doctor	$130.24	$108.36	20.2%
Dentist	$96.14	$92.53	3.9%
Ibuprofen	$9.55	$9.28	2.9%
Lipitor	$387.28	$425.82	9.1%

Housing

Item	Smithville	National avg.	Difference
Home Price	$216,000.00	$184,700.00	16.9%
Avg. Mortgage Payment	$1,546.68	$1,202.44	28.6%
Apartment Rent	$1,301.00	$949.00	37.1%

Transportation

Item	Smithville	National avg.	Difference
Gasoline	$2.48	$2.24	10.5%
Tire Balancing	$57.62	$46.29	24.5%

Utilities

Item	Smithville	National avg.	Difference
All Electricity	$177.22	$165.96	6.8%
Phone	$42.00	$28.68	46.4%

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, State	Population	Cost of Living Index	National Avg.
Elwood, NJ	1,440	99	-1%
Egg Harbor City, NJ	4,243	106	6%
Atlantic City, NJ	39,306	108	8%
Pleasantville, NJ	20,532	108	8%
Mays Landing, NJ	2,123	111	11%
Smithville, NJ	6,866	116	16%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Mira Monte, CA	6,864	148	48%
Westville, IN	6,862	82	-18%
Whitefish, MT	6,859	112	12%
Galax, VA	6,858	86	-14%
St. Albans, VT	6,858	105	5%
Smithville, NJ	6,866	116	16%

Source: The Smithville, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Smithville, NJ Cost of Living