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

Did you know?

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

Salary Calculator

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The salary calculator allows you to compare how much your current salary in White Meadow Lake, NJ would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than White Meadow Lake, NJ, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The White Meadow Lake, NJ salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$121,982$10,165$2,846$3,660
Renters$39,769$3,314$928$1,193
The affordability of the housing market in White Meadow Lake, NJ as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among White Meadow Lake, NJ homeowners, the median income is $121,982. This indicates that a monthly maximum of $2,846 should be spent by homeowners on all housing related costs. Renters have a median income of $39,769. This indicates that renters should have a maximum of $928 used for their rent related monthly 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 White Meadow Lake, 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

ItemWhite Meadow LakeNational 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

ItemWhite Meadow LakeNational 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

ItemWhite Meadow LakeNational 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

ItemWhite Meadow LakeNational avg.Difference
Home Price $343,400.00$175,700.0095.4%
Avg. Mortgage Payment $1,790.20$1,081.0365.6%
Apartment Rent $1,868.00$920.00103.0%

Transportation

ItemWhite Meadow LakeNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $59.16$45.2930.6%

Utilities

ItemWhite Meadow LakeNational 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.
Ross Corner, NJ011010%
Byram Center, NJ501099%
Victory Gardens, NJ1,64611212%
Franklin, NJ4,99411313%
Hamburg, NJ3,22511414%
White Meadow Lake, NJ8,73413636%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Port Jervis, NY8,7361066%
Clinton, NC8,72990-10%
Ahuimanu, HI8,72818787%
Atoka, TN8,72795-5%
Woodburn, VA8,74215353%
White Meadow Lake, NJ8,73413636%
Source: The White Meadow Lake, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.