| Index | Toms River | New Jersey | National |
| Cost of living | 127 | 125 | 100 |
| Groceries | 107 | 108 | 100 |
| Health care | 112 | 112 | 100 |
| Housing | 161 | 157 | 100 |
| Transportation | 117 | 114 | 100 |
| Utilities | 116 | 111 | 100 |
| Lifestyle & Entertainment | 113 | 113 | 100 |
| Household Items | 107 | 107 | 100 |
| Education & Childcare | 122 | 120 | 100 |
Understanding the cost of living in Toms River can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Toms River cost of living index is 127, which is 27% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
If you value affordability in your search for a new place to live, Toms River may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Toms River falls into this category, which may not align with your desire for an affordable place to call home.
When it comes to the cost of living in Toms River, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 60.7% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
The most insightful perspective on a city comes from its residents. We recently surveyed 5 locals to gauge their perception of the cost of living in Toms River. The feedback revealed that 20% of respondents found the cost of living to be reasonable, with prices on the decline, while 80% regarded it as notably expensive with prices that continue to rise.
Is Toms River affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Toms River, the median home price is 64.7% higher than the national average and monthly rent prices are 51.2% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Toms River boasting a median household income of $120,891, 48.6% higher than the national average.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Toms River, the housing index is 60.7% higher than the national average.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Toms River, the groceries index registers 7.3% higher than the national average.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Toms River, the transportation index is 17.3% higher than the national average.
The cost of living estimates displayed for Toms River are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $136,490 | $11,374 | $3,185 | $4,095 |
| Renters | $77,206 | $6,434 | $1,801 | $2,316 |
| State | General Sales Tax | With Max Surtax |
| New Jersey | 6.625% | 12.625% |
| State | Income Tax (Low) | Income Tax (High) |
| New Jersey | 1.4% | 10.75% |
| City | Population | Cost of Living Index | National Avg. |
| Cedar Glen West, NJ | 1,846 | 87 | 13.5% |
| Cedar Glen Lakes, NJ | 1,661 | 91 | 8.5% |
| Crestwood Village, NJ | 8,315 | 96 | 4.2% |
| Pine Ridge at Crestwood, NJ | 2,669 | 102 | 1.7% |
| Leisure Village, NJ | 4,863 | 102 | 2.3% |
| Toms River, NJ | 93,337 | 127 | 27.4% |
| City | Population | Cost of Living Index | National Avg. |
| Miami Beach, FL | 92,948 | 138 | 37.6% |
| San Leandro, CA | 93,731 | 173 | 73.2% |
| Santa Monica, CA | 93,745 | 273 | 173.3% |
| Suffolk, VA | 93,841 | 116 | 16.1% |
| Westminster, CA | 93,920 | 171 | 70.8% |
| Toms River, NJ | 93,337 | 127 | 27.4% |
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