South Toms River 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 Toms RiverNew JerseyNational
Cost of living index116131100
IndexSouth Toms RiverNew JerseyNational
Goods & Services index112118100
Groceries index110116100
Health care index113111100
Housing index131166100
Transportation index111118100
Utilities index97110100
Here we can see a simple outline of the cost of living in South Toms River, NJ. As you can see, with the average cost of living in South Toms River, NJ being 116, that puts it 12% lower than the average of New Jersey and 16% 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 Toms River, 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 Toms River is 12% lower than the New Jersey average.
  • The cost of living in South Toms River is 16% higher than the national average.
  • The cost of housing in South Toms River is 31% 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 Toms River, NJ Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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The salary calculator is used in order to provide a comparison of your current salary in South Toms River, NJ to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to South Toms River, NJ, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the South Toms River, NJ salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$69,861$5,822$1,630$2,096
Renters$34,926$2,911$815$1,048
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in South Toms River, NJ, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. South Toms River, NJ has a median income of about $69,861 for people who own homes. Based on that number, a person should spend a maximum of $1,630 on expenses related to housing. Renters have a slightly different median income, which is $34,926. Based on this average, renters should spend no more than $815 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 South Toms River, 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

ItemSouth Toms RiverNational 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 Toms RiverNational 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 Toms RiverNational 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 Toms RiverNational avg.Difference
Home Price $194,400.00$175,700.0010.6%
Avg. Mortgage Payment $1,607.16$1,081.0348.7%
Apartment Rent $1,649.00$920.0079.2%

Transportation

ItemSouth Toms RiverNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $58.80$45.2929.8%

Utilities

ItemSouth Toms RiverNational 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%
Cedar Glen Lakes, NJ1,52792-8%
Pine Ridge at Crestwood, NJ2,23992-8%
Crestwood Village, NJ7,70397-3%
Silver Ridge, NJ1,44798-2%
South Toms River, NJ3,72211616%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Village Green, NY3,72291-9%
Clyde, TX3,72386-14%
Bardonia, NY3,72115050%
Newport, SC3,7241011%
Hardin, MT3,72087-13%
South Toms River, NJ3,72211616%
Source: The South Toms River, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.