West New York 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 New YorkNew JerseyNational
Cost of living index147131100
IndexWest New YorkNew JerseyNational
Goods & Services index151118100
Groceries index121116100
Health care index117111100
Housing index165166100
Transportation index138118100
Utilities index133110100
An overview of the general cost of living index for West New York, NJ is displayed above for your reference. Residents in West New York, NJ enjoy a cost of living index of 147. This index is 12% higher than the New Jersey average, and 47% 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 New York, NJ, the average cost of goods and services is 28% higher than it is in New Jersey, and it is 51% higher than the national average.

Did you know?

  • The cost of living in West New York is 12% higher than the New Jersey average.
  • The cost of living in West New York is 47% higher than the national average.
  • The cost of housing in West New York is 65% 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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Salary Calculator

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Health care index
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The salary calculator is meant to help you compare your salary in West New York, NJ to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in West New York, NJ, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the West New York, NJ salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$73,717$6,143$1,720$2,212
Renters$40,893$3,408$954$1,227
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in West New York, 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 West New York, NJ homeowners, is $73,717. This would allow for a maximum of $1,720 per month to be spent on housing costs. For renters, the median monthly income is $40,893 which would result in a maximum of $954 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%
For those who live in West New York, 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

ItemWest New YorkNational avg.Difference
Haircut $22.50$14.5954.2%
Beauty Salon $70.55$34.68103.4%
Toothpaste $4.04$2.4763.3%
Shampoo $1.14$1.0211.5%
Movie $13.83$9.8740.1%
Bowling $12.33$4.39180.8%

Groceries

ItemWest New YorkNational avg.Difference
Ground Beef $4.46$4.480.4%
Fried Chicken $1.04$1.4629.0%
Milk $1.92$2.3618.5%
Potatoes $4.37$3.0642.7%
Pizza $11.49$9.2424.3%
Beer $13.09$8.6351.6%

Health Care

ItemWest New YorkNational avg.Difference
Optometrist $103.33$99.783.6%
Doctor $122.50$105.0316.6%
Dentist $117.50$88.7032.5%
Ibuprofen $10.06$9.416.9%
Lipitor $302.11$298.501.2%

Housing

ItemWest New YorkNational avg.Difference
Home Price $320,200.00$175,700.0082.2%
Avg. Mortgage Payment $4,902.79$1,081.03353.5%
Apartment Rent $1,157.00$920.0025.8%

Transportation

ItemWest New YorkNational avg.Difference
Gasoline $2.64$2.0926.2%
Tire Balancing $78.00$45.2972.2%

Utilities

ItemWest New YorkNational avg.Difference
All Electricity$259.80$170.8052.1%
Phone $30.33$28.267.3%
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.
Greenville, NY5731044%
East Orange, NJ64,53811313%
Newark, NJ278,75011414%
Roselle, NJ21,34811414%
Silver Lake, NJ3,59412323%
West New York, NJ51,51114747%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Milford, CT51,50913535%
Elkhart, IN51,53981-19%
Lakewood, OH51,43495-5%
Irondequoit, NY51,59495-5%
Rowland Heights, CA51,59714848%
West New York, NJ51,51114747%
Source: The West New York, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.