The good news is that these tangibles have gotten less expensive even as the costs of childcare, housing and medical care have gone up. Then there's food, childcare (if you have kids), medical costs and transportation. The average annual pay in Trenton is $69,324.00, which is $6,547.00 higher than the salary average in New Jersey and higher than the U.S. average yearly wages by $15,703.00. - Median Home Cost is 126% … You may assume you need to live in one of our less-safe cities to survive in the state, but you’ll be surprised to learn that isn’t the case. This assumes net earnings (after income tax). Use this cost of living calculator to compare the cost of living between U.S. cities and determine if you will be able to maintain your current standard of living in another city Prices and comparisons for the whole range of expenses: food, housing, going out, etc. First, we calculated two different cost of living metrics for a household with one adult and no dependents. New Jersey is a notoriously expensive state to live in. Use this cost of living calculator to compare the cost of living between U.S. cities and determine if you will be able to maintain your current standard of living in another city How Much Does IVF Cost in New Jersey? See what you'll need to earn to keep your current standard of living … The high home prices in the Garden State may mean yo… She is passionate about helping buyers through the process of becoming homeowners. Are the other cities on your list more or less affordable than your current home? Carpooling can help you cut these costs by sharing them with others. Here are some fun facts about the differences between Newark and the state of New Jersey. - Overall, Washington, District of Columbia is 3.6% more expensive than Jersey City, New Jersey - Median Home Cost is the biggest factor in the cost of living difference. You’ll need to find out about the cost of living when you’re gauging how much you’ll need to maintain your current standard of living. Meaning, a single person is 1, a married couple is 2 and any additional children are counted as an additional individual. These "extras" include clothing, personal care items and household cleaning products. See how far your salary will go to maintain your standard of living using our Cost of Living Calculator. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. That's why it's important to look for insurance you can afford and have an emergency fund to cover unexpected expenses. By using Salary.com's Cost of Living Calculator, you can make a cost of living comparison of the Consumer Price Index (CPI) and salary differentials of over 300+ US cities. The cost of living in the U.S. can vary drastically from state to state. But if you're on a tight budget you're probably cooking most - if not all - of your meals at home. Economists consider mobility to be a good thing. Despite a decrease in the number of uninsured Americans, medical costs still account for a significant portion of the bankruptcies in this country. If you never cook you won't be as affected by a change in food prices if you move. When you consider that some cities have zero sales tax while others have sales taxes in excess of 9%, it's easy to see why taxes need to be included in any cost of living comparison. Cost of Living in Jersey City, New Jersey Jersey City, New Jersey's cost of living is 31% higher than the national average. The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. Compare the cost of living in Houston, TX vs. New York (Manhattan), NY and see how far your salary will go to maintain your standard of living. This calculation uses our Cost of Living Plus Rent Index to compare cost of living. Expand chart. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). Our compare cities tool is just like our city profiles report except that you can compare two cities side by side. Side-by-side comparison between Delaware and New Jersey using the main population, demographic, … Side-by-side comparison between Delaware and New Jersey using the main population, demographic, and social indicators from the United States Census Bureau. If you have employer-sponsored healthcare you might not have to pay anything for medical insurance. Annual Compensation Best Practices Report. can help. Transportation is a big factor in the cost of living because it's so closely related to job security. The calculations are based on the total cost of energy, food, healthcare, housing and transportation, among other factors… You can use cost of living information to determine how expensive … SmartAsset’s interactive map highlights the places in the country with the most favorable cost of living. THE cost of living in Jersey is increasing at almost twice the rate it is in the UK, with rising rents and mortgage costs the main causes of the Island’s higher inflation rate. Get started! Princeton, NJ area prices were up 1.5% from a year ago. If you or your partner is a stay-at-home parent or if you have extended family helping you out you won't need to shell out for these expenses. To find these places, we looked at the cost of living relative to income to determine the purchasing power in each county. How the pandemic has affected wages across the U.S. The same medical procedure can be several times more expensive in some locations than in others. Updated on … Follow wage changes of U.S. workers over time. Map: Cost of living comparison for U.S. cities. To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% … 2017-08-27T13:00:00Z The letter F. An envelope. Our cost of living indices are based on a US average of 100. September 5, 2017 • 1:47 pm . There's the cost of education and whether you'll need to take out student loans to get (or complete) a college education. The rest take a car. New York vs New Jersey — we did the math on where it's cheapest for commuters to live . If you're considering moving to another town or city you may be wondering what salary you'd need to maintain your standard of living in the new location. We combined these two numbers using a weighted average based on how close each county’s median income was to the minimum livable income in that area. Even basics like a pound of pasta or a bag of apples can vary in cost from place to place. Then, there's the cost of the care itself. Next up is healthcare. Some states don't have any state-level income tax. • Adults: 1 = Single, Adults: 2 = Married filing jointly. CNBC has ranked the top 10 states that will cost you the most in 2018. The tool provides information for individuals, and households with one or two working adults and zero to three children. For example, if you're offered a job in a more expensive city you'll know that you need to hold out for more money if you don't want to experience a dip in your purchasing power. Cost of Living in New Jersey - South Jersey - In this video i discuss the cost of living in South Jersey vs the cost of living in North Jersey and … But they shouldn't be your only consideration. - Median Home Cost is 14% more … “Depending … In certain cities, this number can get even higher. 2. Salary.com's Cost of Living Calculator lets you compare the cost of living and salary differentials State to State or over 300+ US cities. A $15 per hour minimum wage has become a national U.S. rallying cry from workers seeking middle-class security. Living Wage Calculation for New Jersey. Michele is the author of two books about home buying: “HOMEBUYING: Tough Times, First Time, Any Time,” published by Capitol Books, and “New Home 101: Your Guide to Buying and Building a New Home.” Michele’s work has appeared in The Washington Post, Realtor.com, MSN and National Real Estate Investor magazine. If you pay more than that you're considered "burdened" by your housing costs. To offset these higher costs (e.g., rent), wages are generally higher. By using Salary.com's Cost of Living Calculator, you can make a cost of living comparison of the Consumer Price Index (CPI) and salary differentials of over 300+ US cities. The formula for a winning company culture. The taxes and cost of living in New Jersey are an important consideration for soon-to-be retirees. As SmartAsset’s home buying expert, award-winning writer Michele Lerner brings more than two decades of experience in real estate. How the salary history question affects pay equity. Zoom between states and the national map to see where people have the most purchasing power. Bank of America® Travel Rewards Visa® Credit Card Review, Capital One® Quicksilver® Cash Rewards Credit Card Review, US Census Bureau 2018 American Community Survey, Bureau of Labor Statistics 2018 Consumer Expenditure Survey. How likely is it that you would recommend this tool to a friend or colleague? The state of New Jersey has the highest number in the nation by 12.26%. Living … Key findings pasta or a bag of apples can vary in cost from place to another a rivalry. Our cost of many of these necessities has been rising across the average. 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