Bogota 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.
IndexBogotaNew JerseyNational
Cost of living index144125100
IndexBogotaNew JerseyNational
Goods & Services index149112100
Groceries index138105100
Health care index115104100
Housing index158158100
Transportation index130112100
Utilities index118115100
Displayed above is a general overview of the Bogota, NJ cost of living index. The overall cost of living index in Bogota, NJ is 144, which is 15% higher than the New Jersey average and 44% 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 Bogota, NJ are 33% higher than the New Jersey average and 49% higher than the national average.
How would you rate the cost of living in Bogota?View resultsWrite a review to give others more information about this area.
Is the cost of living increasing or decreasing in Bogota?View resultsWrite a review to give others more information about this area.

Did you know?

  • The cost of living in Bogota is 15% higher than the New Jersey average.
  • The cost of living in Bogota is 44% higher than the national average.
  • The cost of housing in Bogota is 58% higher than the national average.
  • New Jersey general sales tax is 30% higher than the national average.
  • New Jersey state income tax is 37% lower than the national average.

Find Real Estate Listings In Bogota

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Bogota

Compare Bogota, NJ Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Bogota, 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 Bogota, NJ, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Bogota, 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$84,375$7,031$1,969$2,532
Renters$52,846$4,404$1,233$1,586
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Bogota, 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 Bogota, NJ homeowners have a median income of $84,375. Using that number, you will come up with a maximum of $1,969 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $52,846, which means there is a maximum of $1,233 to be spent on the costs of renting a home or apartment.

New Jersey Sales Tax

StateGeneral Sales TaxWith Max Surtax
New Jersey6.625%12.875%

New Jersey Income Tax

StateIncome Tax (Low)Income Tax (High)
New Jersey1.4%8.97%
When you are determining the total cost of living in Bogota, NJ you will want to make sure you consider both the New Jersey sales tax and the New Jersey income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in New Jersey is 6.625%, with the highest surtax being 12.875%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in New Jersey have a range from 1.4% to 8.97%.

Goods & Services

ItemBogotaNational avg.Difference
Haircut $23.67$16.0947.1%
Beauty Salon $65.00$37.3374.1%
Toothpaste $4.49$2.4583.6%
Shampoo $1.69$1.0068.9%
Movie $15.46$10.2850.4%
Bowling $13.00$4.93163.6%

Groceries

ItemBogotaNational avg.Difference
Ground Beef $5.38$3.8041.5%
Fried Chicken $2.08$1.4048.7%
Milk $3.24$2.0161.5%
Potatoes $4.12$3.0136.8%
Pizza $12.04$9.8921.8%
Beer $12.32$8.9038.5%

Health Care

ItemBogotaNational avg.Difference
Optometrist $107.00$102.164.7%
Doctor $105.00$108.363.1%
Dentist $125.00$92.5335.1%
Ibuprofen $11.99$9.2829.2%
Lipitor $435.07$425.822.2%

Housing

ItemBogotaNational avg.Difference
Home Price $313,400.00$184,700.0069.7%
Avg. Mortgage Payment $6,355.59$1,202.44428.6%
Apartment Rent $1,239.00$949.0030.6%

Transportation

ItemBogotaNational avg.Difference
Gasoline $2.45$2.249.3%
Tire Balancing $80.00$46.2972.8%

Utilities

ItemBogotaNational avg.Difference
All Electricity$210.06$165.9626.6%
Phone $30.99$28.688.0%
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 CDP (Greene County), NY6041099%
East Orange, NJ64,62111111%
Newark, NJ280,13911212%
Silver Lake, NJ4,00711414%
Paterson, NJ146,89411515%
Bogota, NJ8,34814444%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ashland, NJ8,34711919%
Orrville, OH8,35185-15%
Rice Lake, WI8,34389-11%
Oberlin, OH8,35388-12%
Diamondhead, MS8,34196-4%
Bogota, NJ8,34814444%
Source: The Bogota, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.