Freehold 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.
IndexFreeholdNew JerseyNational
Cost of living index121123100
IndexFreeholdNew JerseyNational
Goods & Services index114111100
Groceries index107110100
Health care index104102100
Housing index148158100
Transportation index107110100
Utilities index104100100
Displayed above is a general overview of the Freehold, NJ cost of living index. The overall cost of living index in Freehold, NJ is 121, which is 2% lower than the New Jersey average and 21% 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 Freehold, NJ are 3% higher than the New Jersey average and 14% higher than the national average.
How would you rate the cost of living in Freehold?
Write a review to give others more information about this area.
Is the cost of living increasing or decreasing in Freehold?
Write a review to give others more information about this area.

Did you know?

  • The cost of living in Freehold is 2% lower than the New Jersey average.
  • The cost of living in Freehold is 21% higher than the national average.
  • The cost of housing in Freehold is 48% 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.

Compare Freehold, NJ Cost of living To Other Cities

      vs

      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 used in order to provide a comparison of your current salary in Freehold, NJ to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Freehold, NJ, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Freehold, NJ salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$83,324$6,944$1,944$2,500
      Renters$39,292$3,274$917$1,179
      One can approximate the cost of living and the housing affordability in Freehold, NJ by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Freehold, NJ have a median income of $83,324. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,944 per month to avoid calamity and poverty. The renters in the city have an income of about $39,292, which would make their monthly maximum allowable rental costs $917.

      New Jersey Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      New Jersey6.625%12.625%

      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 Freehold, 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 6.625% and the maximum surtax is 12.625%. 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

      ItemFreeholdNational avg.Difference
      Haircut $21.60$17.4923.5%
      Beauty Salon $40.80$38.176.9%
      Toothpaste $1.99$2.3214.3%
      Shampoo $1.09$1.017.7%
      Movie $12.01$10.7212.0%
      Bowling $18.00$13.8629.9%

      Groceries

      ItemFreeholdNational avg.Difference
      Ground Beef $3.85$3.901.3%
      Fried Chicken $1.49$1.406.8%
      Milk $2.23$1.9613.6%
      Potatoes $3.19$3.180.2%
      Pizza $12.19$10.3917.3%
      Beer $9.19$9.230.4%

      Health Care

      ItemFreeholdNational avg.Difference
      Optometrist $105.00$106.341.3%
      Doctor $99.00$115.2514.1%
      Dentist $115.00$98.3816.9%
      Ibuprofen $8.69$9.266.2%
      Lipitor $518.17$466.4711.1%

      Housing

      ItemFreeholdNational avg.Difference
      Home Price $281,100.00$184,700.0052.2%
      Avg. Mortgage Payment $1,998.40$1,273.3256.9%
      Apartment Rent $1,301.00$949.0037.1%

      Transportation

      ItemFreeholdNational avg.Difference
      Gasoline $2.72$2.595.1%
      Tire Balancing $55.99$48.9014.5%

      Utilities

      ItemFreeholdNational avg.Difference
      All Electricity$184.00$167.609.8%
      Phone $177.03$163.428.3%
      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.
      Cedar Glen West, NJ1,04083-17%
      Leisure Village, NJ4,16197-3%
      Leisure Village West, NJ3,2011000%
      Rossmoor, NJ2,9041000%
      Leisure Knoll, NJ2,3411077%
      Freehold, NJ11,94412121%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Crestwood, MO11,94197-3%
      Washington, IN11,94185-15%
      Richmond, TX11,93987-13%
      Buda, TX11,9361022%
      Morgan City, LA11,93692-8%
      Freehold, NJ11,94412121%
      Source: The Freehold, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.