West Freehold 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.
IndexWest FreeholdNew JerseyNational
Cost of living index137131100
IndexWest FreeholdNew JerseyNational
Goods & Services index112118100
Groceries index110116100
Health care index113111100
Housing index200166100
Transportation index111118100
Utilities index97110100
An overview of the general cost of living index for West Freehold, NJ is displayed above for your reference. Residents in West Freehold, NJ enjoy a cost of living index of 137. This index is 4% higher than the New Jersey average, and 37% 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 West Freehold, NJ, the average cost of goods and services is 5% lower than it is in New Jersey, and it is 12% higher than the national average.

Did you know?

  • The cost of living in West Freehold is 4% higher than the New Jersey average.
  • The cost of living in West Freehold is 37% higher than the national average.
  • The cost of housing in West Freehold is 100% 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 West Freehold, NJ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in West Freehold, 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 West Freehold, NJ, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the West Freehold, 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$114,358$9,530$2,668$3,431
Renters$54,570$4,548$1,273$1,637
How much of your monthly income goes to housing can tell you whether or not you can afford housing in West Freehold, NJ, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In West Freehold, NJ homeowners have a median income of $114,358. Using that number, you will come up with a maximum of $2,668 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $54,570, which means there is a maximum of $1,273 to be spent on the costs of renting a home or apartment.

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%
One thing to keep in mind when considering the cost of living in West Freehold, NJ is the New Jersey sales tax and New Jersey income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The New Jersey sales tax rate is 7% and the maximum surtax that can be charged is 7%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The New Jersey income tax rates range from 1.4% to 8.97%.

Goods & Services

ItemWest FreeholdNational 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

ItemWest FreeholdNational 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

ItemWest FreeholdNational 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

ItemWest FreeholdNational avg.Difference
Home Price $371,300.00$175,700.00111.3%
Avg. Mortgage Payment $1,607.16$1,081.0348.7%
Apartment Rent $1,607.00$920.0074.7%

Transportation

ItemWest FreeholdNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $58.80$45.2929.8%

Utilities

ItemWest FreeholdNational 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%
Leisure Village, NJ4,20198-2%
Rossmoor, NJ2,81498-2%
Leisure Knoll, NJ2,4531066%
Leisure Village East, NJ3,6891099%
West Freehold, NJ13,92213737%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Olivehurst, CA13,92811313%
Collingswood, NJ13,92912020%
Morris, IL13,9291011%
Whitehall, PA13,9311044%
Swampscott, MA13,91215151%
West Freehold, NJ13,92213737%
Source: The West Freehold, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.