New Jersey Cost of Living Calculator
Compare New Jersey cost of living (index: 115.2). Calculate equivalent salary needed when moving to or from New Jersey.
How This Calculator Works
Calculation methodology and assumptions
This calculator compares purchasing power between locations using cost of living indices. New Jersey's cost of living index is 115.2 (100 = national average). The equivalent salary is calculated as: Current Salary × (Target COL / Current COL). Tax differences are also factored in to show the net financial impact of relocating.
Key State Information
New Jersey cost of living index: 115.2. New Jersey is significantly more expensive than the national average. Higher housing, transportation, and food costs drive this. Median household income: $89,296. Median 2BR rent: $1590/month.
Frequently Asked Questions
What is the cost of living in New Jersey?
New Jersey's cost of living index is 115.2, where 100 is the national average. This means living in New Jersey costs about 15% more than the national average.
Is New Jersey expensive to live in?
New Jersey has a moderate cost of living, close to the national average. Median home price: $470,000.
How much do I need to earn in New Jersey to live comfortably?
Based on a cost of living index of 115.2 and the 50-30-20 budgeting rule, a comfortable salary in New Jersey would be approximately $73,267/year for a single person renting a 2BR apartment.
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