Upper Montclair 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.
IndexUpper MontclairNew JerseyNational
Cost of living index171131100
IndexUpper MontclairNew JerseyNational
Goods & Services index115118100
Groceries index106116100
Health care index107111100
Housing index313166100
Transportation index111118100
Utilities index98110100
A general overview of the cost of living index for Upper Montclair, NJ is displayed above. In Upper Montclair, NJ, the overall cost of living index is 171, which is 30% higher than the New Jersey average and 71% 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 Upper Montclair, NJ, the city's goods and services are 3% lower than the New Jersey average and 15% higher than the U.S. average.

Did you know?

  • The cost of living in Upper Montclair is 30% higher than the New Jersey average.
  • The cost of living in Upper Montclair is 71% higher than the national average.
  • The cost of housing in Upper Montclair is 213% 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 Upper Montclair, NJ Cost of living To Other Cities

Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in Upper Montclair, 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 Upper Montclair, NJ, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Upper Montclair, 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$198,656$16,555$4,635$5,960
Renters$67,381$5,615$1,572$2,022
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Upper Montclair, 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 Upper Montclair, NJ homeowners, is $198,656. This would allow for a maximum of $4,635 per month to be spent on housing costs. For renters, the median monthly income is $67,381 which would result in a maximum of $1,572 to be spent on rental 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%
The New Jersey sales tax and New Jersey income tax rates should definitely be considered when determining the overall cost of living in Upper Montclair, 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

ItemUpper MontclairNational 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

ItemUpper MontclairNational 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

ItemUpper MontclairNational 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

ItemUpper MontclairNational avg.Difference
Home Price $653,300.00$175,700.00271.8%
Avg. Mortgage Payment $1,790.20$1,081.0365.6%
Apartment Rent $1,628.00$920.0077.0%

Transportation

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

Utilities

ItemUpper MontclairNational 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%
Roselle, NJ21,34811414%
Silver Lake, NJ3,59412323%
Paterson, NJ146,34111919%
Upper Montclair, NJ11,63717171%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ravenna, OH11,63588-12%
Johnstown, CO11,63911111%
Snoqualmie, WA11,62515050%
Lakeland Highlands, FL11,6491044%
Hawaiian Paradise Park, HI11,62314949%
Upper Montclair, NJ11,63717171%
Source: The Upper Montclair, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.