Cost Of Living in Fair Haven, NJ

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F

104%

Overall NAT. AVG.

27%

Goods & Services NAT. AVG.

303%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Fair Haven	New Jersey	National
Cost of living	204	121	100
Goods & Services	127	106	100
Groceries	113	102	100
Health care	121	99	100
Housing	403	158	100
Transportation	115	103	100
Utilities	102	107	100

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Cost Of Living Quick Facts

The cost of living in Fair Haven is 69% higher than the New Jersey average
The cost of living in Fair Haven is 104% higher than the national average
Fair Haven housing is 303% higher than the national average
New Jersey general sales tax is 30% higher than the national average
New Jersey state income tax is 46% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$187,656	$15,638	$4,378	$5,630
Renters	$103,710	$8,643	$2,420	$3,112

A good indicator of the general affordability of housing in Fair Haven, NJ, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Fair Haven, the median monthly income is $187,656 for those who own their own homes. Under the standard rule, that income level would allow for $4,378 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $103,710, per the median income in the area. That would allow for renters to spend up to $2,420 on monthly rental expenses.

New Jersey Sales Tax

State	General Sales Tax	With Max Surtax
New Jersey	6.625%	12.625%

New Jersey Income Tax

State	Income Tax (Low)	Income Tax (High)
New Jersey	1.4%	10.75%

Goods & Services

Item	Fair Haven	National avg.	Difference
Haircut	$34.94	$24.26	44.0%
Beauty Salon	$64.07	$45.56	40.6%
Toothpaste	$3.96	$3.70	7.0%
Shampoo	$1.69	$1.28	32.3%
Movie	$13.68	$12.13	12.8%
Bowling	$29.40	$18.00	63.3%

Groceries

Item	Fair Haven	National avg.	Difference
Ground Beef	$5.87	$5.84	0.6%
Fried Chicken	$1.46	$1.57	6.9%
Milk	$4.97	$4.67	6.3%
Potatoes	$5.21	$4.93	5.7%
Pizza	$12.57	$12.09	4.0%
Beer	$11.87	$10.41	14.0%

Health Care

Item	Fair Haven	National avg.	Difference
Optometrist	$128.97	$125.68	2.6%
Doctor	$162.24	$135.78	19.5%
Dentist	$149.64	$113.29	32.1%
Ibuprofen	$11.15	$10.65	4.6%
Lipitor	$402.75	$468.60	14.1%

Housing

Item	Fair Haven	National avg.	Difference
Home Price	$772,200.00	$184,700.00	318.1%
Avg. Mortgage Payment	$6,916.73	$2,346.69	194.7%
Apartment Rent	$3,501.00	$949.00	268.9%

Transportation

Item	Fair Haven	National avg.	Difference
Gasoline	$3.55	$3.46	2.5%
Tire Balancing	$86.43	$59.92	44.2%

Utilities

Item	Fair Haven	National avg.	Difference
All Electricity	$201.27	$193.99	3.8%
Phone	$200.67	$192.25	4.4%

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	Population	Cost of Living Index	National Avg.
Keansburg, NJ	9,697	110	10.4%
Cliffwood Beach, NJ	3,024	117	17.0%
North Middletown, NJ	2,652	126	25.7%
Keyport, NJ	7,005	118	18.4%
Laurence Harbor, NJ	6,041	119	18.9%
Fair Haven, NJ	5,833	204	104.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Bay Harbor Islands, FL	5,832	143	42.7%
Zimmerman, MN	5,831	106	6.5%
Fort Shawnee, OH	5,835	98	2.1%
Hellertown, PA	5,835	104	3.6%
Homer, AK	5,830	127	26.7%
Fair Haven, NJ	5,833	204	104.1%