South Bound Brook 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.
IndexSouth Bound BrookNew JerseyNational
Cost of living index119131100
IndexSouth Bound BrookNew JerseyNational
Goods & Services index112118100
Groceries index110116100
Health care index113111100
Housing index142166100
Transportation index111118100
Utilities index97110100
Here we can see a simple outline of the cost of living in South Bound Brook, NJ. As you can see, with the average cost of living in South Bound Brook, NJ being 119, that puts it 9% lower than the average of New Jersey and 19% 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 South Bound Brook, 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 South Bound Brook is 9% lower than the New Jersey average.
  • The cost of living in South Bound Brook is 19% higher than the national average.
  • The cost of housing in South Bound Brook is 42% 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 South Bound Brook, NJ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in South Bound Brook, 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 South Bound Brook, NJ, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the South Bound Brook, 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$97,566$8,131$2,276$2,927
Renters$51,047$4,254$1,191$1,532
The affordability of the housing market in South Bound Brook, 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 South Bound Brook, NJ homeowners, the median income is $97,566. This indicates that a monthly maximum of $2,276 should be spent by homeowners on all housing related costs. Renters have a median income of $51,047. This indicates that renters should have a maximum of $1,191 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 considering the overall cost of living expenses in South Bound Brook, NJ, it's important to take into account the sales tax for New Jersey, as well as the rate for income tax in New Jersey. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for New Jersey is 7%, and the sales tax in the state of New Jersey is 7%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in New Jersey starts from 1.4% and goes up to 8.97%.

Goods & Services

ItemSouth Bound BrookNational 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

ItemSouth Bound BrookNational 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

ItemSouth Bound BrookNational 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

ItemSouth Bound BrookNational avg.Difference
Home Price $247,000.00$175,700.0040.6%
Avg. Mortgage Payment $1,607.16$1,081.0348.7%
Apartment Rent $1,340.00$920.0045.7%

Transportation

ItemSouth Bound BrookNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $58.80$45.2929.8%

Utilities

ItemSouth Bound BrookNational 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%
Roselle, NJ21,34811414%
Perth Amboy, NJ51,72711717%
Plainfield, NJ50,42311717%
Spotswood, NJ8,35911919%
South Bound Brook, NJ4,58511919%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Westlake, LA4,58585-15%
Pleasant Garden, NC4,58591-9%
Belleview, FL4,58588-12%
West Ocean City, MD4,58612323%
Michigan Center, MI4,58685-15%
South Bound Brook, NJ4,58511919%
Source: The South Bound Brook, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.