Ventnor City 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.
IndexVentnor CityNew JerseyNational
Cost of living index127131100
IndexVentnor CityNew JerseyNational
Goods & Services index115118100
Groceries index117116100
Health care index99111100
Housing index155166100
Transportation index117118100
Utilities index121110100
An overview of the general cost of living index for Ventnor City, NJ is displayed above for your reference. Residents in Ventnor City, NJ enjoy a cost of living index of 127. This index is 3% lower than the New Jersey average, and 27% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Ventnor City, NJ, the average cost of goods and services is 3% lower than it is in New Jersey, and it is 15% higher than the national average.

Did you know?

  • The cost of living in Ventnor City is 3% lower than the New Jersey average.
  • The cost of living in Ventnor City is 27% higher than the national average.
  • The cost of housing in Ventnor City 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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Compare Ventnor City, NJ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Ventnor City, 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 Ventnor City, NJ, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Ventnor City, 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$63,237$5,270$1,475$1,897
Renters$28,936$2,411$675$868
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 Ventnor City, 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. Ventnor City, NJ has a median income of about $63,237 for people who own homes. Based on that number, a person should spend a maximum of $1,475 on expenses related to housing. Renters have a slightly different median income, which is $28,936. Based on this average, renters should spend no more than $675 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%
When considering the overall cost of living expenses in Ventnor City, 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

ItemVentnor CityNational avg.Difference
Haircut $17.50$14.5919.9%
Beauty Salon $52.00$34.6849.9%
Toothpaste $2.36$2.474.6%
Shampoo $0.99$1.023.1%
Movie $10.75$9.878.9%
Bowling $5.04$4.3914.8%

Groceries

ItemVentnor CityNational avg.Difference
Ground Beef $4.74$4.485.9%
Fried Chicken $1.69$1.4615.4%
Milk $2.25$2.364.5%
Potatoes $3.49$3.0614.0%
Pizza $10.74$9.2416.2%
Beer $8.39$8.632.8%

Health Care

ItemVentnor CityNational avg.Difference
Optometrist $106.00$99.786.2%
Doctor $118.75$105.0313.1%
Dentist $95.00$88.707.1%
Ibuprofen $9.89$9.415.1%
Lipitor $200.00$298.5033.0%

Housing

ItemVentnor CityNational avg.Difference
Home Price $301,800.00$175,700.0071.8%
Avg. Mortgage Payment $1,419.25$1,081.0331.3%
Apartment Rent $1,080.00$920.0017.4%

Transportation

ItemVentnor CityNational avg.Difference
Gasoline $2.46$2.0917.6%
Tire Balancing $52.00$45.2914.8%

Utilities

ItemVentnor CityNational avg.Difference
All Electricity$186.98$170.809.5%
Phone $38.50$28.2636.3%
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.
Pleasantville, NJ20,43611010%
Egg Harbor City, NJ4,25311111%
Atlantic City, NJ39,52111313%
Mays Landing, NJ1,71411414%
Somers Point, NJ10,78311111%
Ventnor City, NJ10,63212727%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Sussex, WI10,63211010%
Londonderry, NH10,63712626%
Woodbury village, NY10,63814242%
Castle Pines, CO10,62613838%
Eidson Road, TX10,64378-22%
Ventnor City, NJ10,63212727%
Source: The Ventnor City, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.