F
Overall 26%
Goods & Services 2%
Housing 80%
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Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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.
IndexHopeNew JerseyNational
Cost of living126121100
Goods & Services102105100
Groceries110107100
Health care9896100
Housing180158100
Transportation103105100
Utilities95105100

Key findings

  • The cost of living in Hope is 4% higher than the New Jersey average
  • The cost of living in Hope is 26% higher than the national average
  • Hope housing is 80% higher than the national average
  • New Jersey general sales tax is 30% higher than the national average
  • New Jersey state income tax is 43% lower than the national average

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Compare Hope, NJ Cost of Living

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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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$102,813$8,568$2,399$3,085
      Renters$0$0$0$0

      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

      ItemHopeNational avg.Difference
      Haircut $23.23$20.2714.6%
      Beauty Salon $49.99$40.3923.8%
      Toothpaste $1.92$2.3618.8%
      Shampoo $1.11$1.083.1%
      Movie $12.81$10.9916.6%
      Bowling $20.73$15.4933.8%

      Groceries

      ItemHopeNational avg.Difference
      Ground Beef $3.97$4.307.7%
      Fried Chicken $2.19$1.4056.3%
      Milk $2.72$2.2023.6%
      Potatoes $3.56$3.2210.6%
      Pizza $9.99$10.747.0%
      Beer $8.05$9.6016.1%

      Health Care

      ItemHopeNational avg.Difference
      Optometrist $97.21$109.7311.4%
      Doctor $90.28$118.3423.7%
      Dentist $119.29$100.9418.2%
      Ibuprofen $7.94$9.9320.1%
      Lipitor $470.29$469.530.2%

      Housing

      ItemHopeNational avg.Difference
      Home Price $333,300.00$184,700.0080.5%
      Avg. Mortgage Payment $1,548.22$1,229.6225.9%
      Apartment Rent $0.00$949.00100.0%

      Transportation

      ItemHopeNational avg.Difference
      Gasoline $2.76$2.712.0%
      Tire Balancing $54.50$51.865.1%

      Utilities

      ItemHopeNational avg.Difference
      All Electricity$157.35$170.847.9%
      Phone $183.25$187.182.1%
      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

      CityPopulationCost of Living IndexNational Avg.
      Delaware, NJ991033.0%
      Buttzville, NJ701022.3%
      Port Murray, NJ981022.3%
      Ross Corner, NJ581022.3%
      Bridgeville, NJ1351022.3%
      Hope, NJ19312625.7%

      Cities with similar population

      CityPopulationCost of Living IndexNational Avg.
      Iliff, CO1938515.4%
      Elberon, IA1938317.0%
      Hancock, IA1938415.6%
      Leighton, IA1938019.9%
      Midvale, ID193936.6%
      Hope, NJ19312625.7%
      Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.