Somerville 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.
IndexSomervilleNew JerseyNational
Cost of living index123127100
IndexSomervilleNew JerseyNational
Goods & Services index113114100
Groceries index102104100
Health care index102100100
Housing index155166100
Transportation index106107100
Utilities index109110100
A general overview of the cost of living index for Somerville, NJ is displayed above. In Somerville, NJ, the overall cost of living index is 123, which is 3% lower than the New Jersey average and 23% 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 Somerville, 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 Somerville is 3% lower than the New Jersey average.
  • The cost of living in Somerville is 23% higher than the national average.
  • The cost of housing in Somerville is 55% 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

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The salary calculator allows you to compare how much your current salary in Somerville, 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 Somerville, NJ, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Somerville, 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)
Owners$91,419$7,618$2,133$2,743
Renters$49,792$4,149$1,162$1,494
The affordability of the housing market in Somerville, 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 Somerville, NJ homeowners, the median income is $91,419. This indicates that a monthly maximum of $2,133 should be spent by homeowners on all housing related costs. Renters have a median income of $49,792. This indicates that renters should have a maximum of $1,162 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%
For those who live in Somerville, NJ and want to know what the true cost of living is, they ought to look at both the New Jersey income tax rate and the New Jersey sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In New Jersey, the sales tax is 7%, while the most you'll pay in surtax is 7%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in New Jersey, the income tax rate ranges between 1.4% to 8.97%.

Goods & Services

ItemSomervilleNational 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

ItemSomervilleNational 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

ItemSomervilleNational 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

ItemSomervilleNational avg.Difference
Home Price $290,200.00$175,700.0065.2%
Avg. Mortgage Payment $1,533.70$1,133.2335.3%
Apartment Rent $1,205.00$920.0031.0%

Transportation

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

Utilities

ItemSomervilleNational 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.
Zarephath, NJ01099%
Plainfield, NJ50,42311717%
Spotswood, NJ8,35911818%
New Brunswick, NJ55,80411818%
South Bound Brook, NJ4,58511919%
Somerville, NJ12,17512323%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
West Plains, MO12,17684-16%
Cypress Lake, FL12,17795-5%
Babylon, NY12,17715252%
Grovetown, GA12,17993-7%
Nanakuli, HI12,18114646%
Somerville, NJ12,17512323%
Source: The Somerville, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.