Williamstown 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.
IndexWilliamstownNew JerseyNational
Cost of living index115131100
IndexWilliamstownNew JerseyNational
Goods & Services index115118100
Groceries index117116100
Health care index99111100
Housing index113166100
Transportation index117118100
Utilities index121110100
Displayed above is a general overview of the Williamstown, NJ cost of living index. The overall cost of living index in Williamstown, NJ is 115, which is 13% lower than the New Jersey average and 15% 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 Williamstown, NJ are 3% lower than the New Jersey average and 15% higher than the national average.

Did you know?

  • The cost of living in Williamstown is 13% lower than the New Jersey average.
  • The cost of living in Williamstown is 15% higher than the national average.
  • The cost of housing in Williamstown is 13% 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 Williamstown, NJ Cost of living To Other Cities

Salary Calculator

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The salary calculator is meant to help you compare your salary in Williamstown, 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 Williamstown, NJ, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Williamstown, 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$80,214$6,685$1,872$2,407
Renters$27,066$2,256$631$812
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Williamstown, 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 Williamstown, NJ homeowners have a median income of $80,214. Using that number, you will come up with a maximum of $1,872 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $27,066, which means there is a maximum of $631 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%
The New Jersey sales tax and New Jersey income tax rates should definitely be considered when determining the overall cost of living in Williamstown, 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

ItemWilliamstownNational 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

ItemWilliamstownNational 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

ItemWilliamstownNational 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

ItemWilliamstownNational avg.Difference
Home Price $205,100.00$175,700.0016.7%
Avg. Mortgage Payment $1,419.25$1,081.0331.3%
Apartment Rent $955.00$920.003.8%

Transportation

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

Utilities

ItemWilliamstownNational 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.
Tavistock, NJ911515%
Pine Valley, NJ211515%
Audubon Park, NJ1,05196-4%
Seabrook Farms, NJ99591-9%
Elwood, NJ1,6131044%
Williamstown, NJ15,42511515%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Foley, AL15,42895-5%
Portland, TX15,42095-5%
Avocado Heights, CA15,43213535%
New River, AZ15,43211313%
Glenmont, MD15,41212929%
Williamstown, NJ15,42511515%
Source: The Williamstown, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.