Hackensack cost of living index

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.
The 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. The breakdown for each index is as follows: goods and services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
IndexHackensackNew JerseyNational
Cost of living123123100
IndexHackensackNew JerseyNational
Goods & Services114111100
Groceries108110100
Health care107102100
Housing152158100
Transportation111110100
Utilities105100100

Key findings

  • The cost of living in Hackensack is equal to the New Jersey average
  • The cost of living in Hackensack is 23% higher than the national average
  • Hackensack housing is 52% 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

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Compare Hackensack, NJ Cost of Living To Other Cities

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      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

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$84,137$7,011$1,963$2,524
      Renters$46,488$3,874$1,085$1,395
      A good indicator of the general affordability of housing in Hackensack, 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 Hackensack, the median monthly income is $84,137 for those who own their own homes. Under the standard rule, that income level would allow for $1,963 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $46,488, per the median income in the area. That would allow for renters to spend up to $1,085 on monthly rental expenses.

      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%10.75%

      Goods & Services

      ItemHackensackNational avg.Difference
      Haircut $24.00$17.4937.2%
      Beauty Salon $39.00$38.172.2%
      Toothpaste $2.01$2.3213.4%
      Shampoo $1.09$1.017.7%
      Movie $12.14$10.7213.2%
      Bowling $18.40$13.8632.7%

      Groceries

      ItemHackensackNational avg.Difference
      Ground Beef $3.85$3.901.3%
      Fried Chicken $1.66$1.4018.9%
      Milk $2.21$1.9612.6%
      Potatoes $3.39$3.186.5%
      Pizza $11.99$10.3915.4%
      Beer $8.99$9.232.6%

      Health Care

      ItemHackensackNational avg.Difference
      Optometrist $113.00$106.346.3%
      Doctor $96.67$115.2516.1%
      Dentist $121.00$98.3823.0%
      Ibuprofen $8.95$9.263.4%
      Lipitor $537.05$466.4715.1%

      Housing

      ItemHackensackNational avg.Difference
      Home Price $291,500.00$184,700.0057.8%
      Avg. Mortgage Payment $2,311.62$1,273.3281.5%
      Apartment Rent $1,318.00$949.0038.9%

      Transportation

      ItemHackensackNational avg.Difference
      Gasoline $2.77$2.597.0%
      Tire Balancing $59.00$48.9020.7%

      Utilities

      ItemHackensackNational avg.Difference
      All Electricity$184.45$167.6010.1%
      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.
      Greenville CDP (Greene County), NY6041055%
      East Orange, NJ64,62111111%
      Newark, NJ280,13911212%
      Silver Lake, NJ4,00711414%
      Paterson, NJ146,89411515%
      Hackensack, NJ44,27112323%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Sayreville, NJ44,26012121%
      Keller, TX44,25011515%
      St. Cloud, FL44,19891-9%
      Sierra Vista, AZ44,38197-3%
      Arlington, MA44,40816060%
      Hackensack, NJ44,27112323%
      Source: The Hackensack, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.