Totowa 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.
IndexTotowaNew JerseyNational
Cost of living index136131100
IndexTotowaNew JerseyNational
Goods & Services index115118100
Groceries index106116100
Health care index107111100
Housing index198166100
Transportation index111118100
Utilities index98110100
Displayed above is a general overview of the Totowa, NJ cost of living index. The overall cost of living index in Totowa, NJ is 136, which is 4% higher than the New Jersey average and 36% 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 Totowa, NJ are 3% lower than the New Jersey average and 15% higher than the national average.

Did you know?

  • The cost of living in Totowa is 4% higher than the New Jersey average.
  • The cost of living in Totowa is 36% higher than the national average.
  • The cost of housing in Totowa is 98% 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 Totowa, NJ Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Totowa, 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 Totowa, NJ, you have to earn a higher income in order to still have the same standard of living. To operate the Totowa, 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$91,667$7,639$2,139$2,750
Renters$50,288$4,191$1,173$1,509
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 Totowa, 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. Totowa, NJ has a median income of about $91,667 for people who own homes. Based on that number, a person should spend a maximum of $2,139 on expenses related to housing. Renters have a slightly different median income, which is $50,288. Based on this average, renters should spend no more than $1,173 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%
The New Jersey sales tax and New Jersey income tax rates should definitely be considered when determining the overall cost of living in Totowa, NJ. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The New Jersey sales tax is 7% and the maximum surtax is 7%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The New Jersey income tax rates range from 1.4% to 8.97%.

Goods & Services

ItemTotowaNational avg.Difference
Haircut $19.00$14.5930.2%
Beauty Salon $33.75$34.682.7%
Toothpaste $2.29$2.477.4%
Shampoo $1.00$1.022.2%
Movie $11.70$9.8718.6%
Bowling $4.55$4.393.6%

Groceries

ItemTotowaNational avg.Difference
Ground Beef $4.39$4.481.9%
Fried Chicken $1.99$1.4635.9%
Milk $2.77$2.3617.5%
Potatoes $3.39$3.0610.7%
Pizza $8.00$9.2413.4%
Beer $9.19$8.636.5%

Health Care

ItemTotowaNational avg.Difference
Optometrist $91.25$99.788.5%
Doctor $90.00$105.0314.3%
Dentist $107.25$88.7020.9%
Ibuprofen $9.49$9.410.8%
Lipitor $341.01$298.5014.2%

Housing

ItemTotowaNational avg.Difference
Home Price $375,700.00$175,700.00113.8%
Avg. Mortgage Payment $1,790.20$1,081.0365.6%
Apartment Rent $1,481.00$920.0061.0%

Transportation

ItemTotowaNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $59.16$45.2930.6%

Utilities

ItemTotowaNational avg.Difference
All Electricity$159.41$170.806.7%
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.
East Orange, NJ64,53811313%
Newark, NJ278,75011414%
Silver Lake, NJ3,59412323%
Paterson, NJ146,34111919%
Haledon, NJ8,39712121%
Totowa, NJ10,87213636%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Waxhaw, NC10,87811111%
Chino Valley, AZ10,87992-8%
Suffern, NY10,86412828%
Coldwater, MI10,86380-20%
Van Wert, OH10,85987-13%
Totowa, NJ10,87213636%
Source: The Totowa, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.