Cost of living in New Jersey

cost of living in new jersey

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    Not only the oldest but New Jersey is also the most densely populated state in the US. Being the diner capital of the World, NJ has so much to offer to everyone. 

    But what is the cost of living in New Jersey? Well, keeping things short, here’s your quick answer to that:

     The cost of living in NJ is 12% higher than the national average. Overall, a single person will need $2100 per month to live comfortably. While a family of 4 can enjoy a stable living style for $5200.


    That’s pretty simple, right? Unfortunately, no there are several things you need to consider before you can figure out one “figure” as your average cost of living in New Jersey.

    How Much Money Do You Need To Live Comfortably In NJ?

    The truth is you’ll need at least over $2000, for a comfortable living style. But if you’re a party bird who loves to dine out often, keep $5600 in mind.

    In general, a family of 4 will need around $5000 to $5600 per month for a healthy lifestyle.

    The minimum salary in NJ is $14.13 per hour. So, you’ll need at least 18 days for 8 hours to make over $2000.

    Have a quick look at the table given below to understand the minimum amount more accurately:

    UtilitySingle PersonFamily of TwoFamily of Four
    Rent (2 bed)$1100$1500$2050
    Monthly Transportation $64$128$256
    Clothing$50 – $120$150 – $400$250 – $600
    Daycare or PreschoolNo KidNo Kid$1260 per kid
    Eating Out$50 – $70$100 – $120$150 – $250
    Gas / Petrol$0.99 per litre$0.99 per litre$0.99 per liter

    Keep in mind that the average cost of living in NJ also depends on where you live. So, if you’re planning to move to New Jersey, consider your options wisely. 

    Cost of Living in New Jersey – Let’s Discuss in Detail

    New Jersey comes with higher rates of home prices and taxes, which is why the cost of living in New Jersey is higher in the US.

    However, not only do these two factors decide the living price for New Jersey, but the other factors are also equally important.

    So, check out the costs and use the New Jersey cost of living calculator to compute the different prices.

    1. Groceries Prices in New Jersey

    The grocery rates in New Jersey are not less than the US national average, so you have to spend more on groceries.


    Are Groceries expensive in New Jersey?

    The US national average is less than the cost of groceries in New Jersey at 5.8%. However, people can reduce their grocery bills by going to Farmer’s markets.

    Also, you can visit discount stores to get discounts on grocery bills and reduce your cost. You need to pay nearly $106 for a food cart.

    How much are groceries in New Jersey?

    As per the data of the Agriculture Department of the US, an individual spends an average of $3,433 on food yearly. Also, a family of four, including kids, needs at least $9,914 on average to spend on groceries.

    How much should I budget for groceries in New Jersey? 

    The national average rate on food for a single person is $3,240. However, one needs to have a budget of at least $3,433 to spend on groceries every year.

    2. Price of Utilities

    To be precise with you, the cost of utilities is almost close to the national average. Therefore, there are chances to spend around 9.2% in addition to the charges.


    How expensive are utilities in New Jersey? 

    The utilities in New Jersey can be more expensive, about 9.2%. The average cost of utilities in New Jersey for a month is around $102.38, only $10 less than the national average.

    How much is the electricity bill in New Jersey?

    The Save on Energy Electricity Bill Report of March 2022 said the locals of New Jersey use an average of 683 kWh per month. Therefore, they charged an amount of $109.28 towards the electricity bill in New Jersey.

    How much is water and sewer a month in New Jersey?

    Water is one of our basic needs; therefore, spending on water may increase your cost of living in New Jersey. $149.72 a unit is a current quarterly service of water and sewer charge for New Jersey residents. Also, you will need to pay the amount of $4.48 per thousand gallons of usage if you use it quarterly.

    3. Cost of Healthcare in New Jersey

    The healthcare indices in New Jersey are 88.4, whereas the national average is only 100. That means the cost of healthcare in New Jersey is lower than the US national average. 


    Is New Jersey healthcare more expensive?

    As per the national institute’s analysis, people in New Jersey pay the fifth-highest healthcare prices, and they are still rising. As a result, an employee of private companies in New Jersey may pay $1,595 for health care.

    Is healthcare free in New Jersey?

    A few people are unaware of the cost of healthcare in New Jersey. So, if you are a qualified resident in New Jersey, there are chances of getting healthcare at a low price or no cost. The publicly funded health insurance program in New Jersey allows people for the same.

    How much does Obamacare cost in New Jersey?

    Obamacare helps to provide health insurance covers to the residents of America. It comes with the lowest or most affordable cost to get the insurance. Therefore, New Jersey offers different prices and categories of Obamacare. If you are under 20 of your age, you might be charged about $176.14, $257.53, $327.91, and $384.22 for the Bronze, Silver, Gold, and Platinum plans, respectively. 

    4. New Jersey Home Prices

    The property prices in NJ are very high. For a double-story median home, you might have to pay over $300,000. The current surge in the property prices increase the rate up by 20%.


    What is the average cost of a house in New Jersey? 

    In the last year, the average value of a home for a single-family increased by $100,000 in New Jersey, as per the New Jersey Realtors data. However, $418,500 was the median home price in March 2022 in New Jersey. In most cities, the costs can rise to $518,860.

    Which New Jersey island is the cheapest to buy a house? 

    In the US, buying a private island starts from $500,000. However, in New Jersey, these prices fall, and a private no man’s island is available at only $125,000. 

    Will New Jersey home prices drop? 

    In 2022, New Jersey home prices are rapidly increasing by a few percent. However, it is assumed that these prices can drop in 2023 because of inflation. According to the Otteau Group, another reason for decreasing home value is a recession. 

    5. Education in New Jersey

    New Jersey is one of those states that focuses on the education system. Also, the rate of literacy in New Jersey is about 83.10%.


    Along with that, they have a free program for education. On top of that, the “best high schools in New Jersey” offer education in an affordable price range.

    Is education free in New Jersey?

    New Jersey runs a tuition-free program for four-year institutes. In the 2020 state budget, Governor Phill Murphy announced the Garden State Guarantee. 

    Is college cheaper in New Jersey?

    The colleges in New Jersey can help you with an affordable or reasonable price range. Therefore, the average tuition fees in New Jersey are about $8,858 for the locals in NJ and $14,550 for out-of-state students.

    Are universities in New Jersey expensive?

    Although the colleges have an affordable range of education in New Jersey, the university price varies. One of the famous universities in New Jersey is Kean University, which costs $12,348 for in-state tuition and $19,383 for out-of-state tuition.

    6. New Jersey Tax Rates

    The taxes in New Jersey are assumed to be the highest in the whole region. 10.75% is the highest tax rate for more than five million in the developing state of New Jersey.

    Tax Rates

    Is tax cheaper in New Jersey?

    If you live in the city, you can save an amount by paying higher taxes. But, when it comes to the state, you may have to pay higher taxes. The tax rates in New York City start from 4% and increase up to 8.82%. However, the tax rates in New Jersey start from 1.4% and increase up to 11.8% if you earn more than 5 million.

    Are taxes higher in Florida or New Jersey? 

    When it comes to comparison, New Jersey becomes the highest taxpayer in the US, and the tax rate falls between 1.4% to 11.8%. But, Florida does not charge taxes on income, and Florida is a tax-free income state. 

    7. New Jersey Public Transportation

    If you want to move to New Jersey and use public transportation for office use, you can get a one-time monthly pass for a bus or train from NJ TRANSIT.

    Public Transportation

    Due to affordable transportation costs, you can explore the city more and surely you’ll never run out of things to do in New Jersey!

    How much does transportation cost in New Jersey?

    The transportation cost varies as per the rides. However, you will need to pay $111 for monthly tickets on public transport like trains. Also, a taxi can cost you up to $13 per 8km on any working day.

    How much do bus rides in New Jersey? 

    The average cost of riding a bus in the 39 cities in New Jersey can be $40 from the best routes. But, you can get the cheapest ticket for only $7 and need only $96 for the expensive bus ride.

    8. Average Cost for Energy and Fuels

    Energy and fuel can be included in the utilities for daily life. Therefore, the cost of energy and power is estimated to be about $109.28. But, it can be changed. 

    Energy and Fuels

    What are the fuel prices in New Jersey? 

    The fuel prices vary as per the quality of fuel in New Jersey. Therefore, the current average prices in New Jersey for fuel are $4.585 for Regular, $4.907 for Mid-Grade, $6.279 for Premium, and $6.279 for diesel. 

    Why are gas prices so high in New Jersey? 

    After the effect of Covid, the gas demand paused, and the gas prices in New Jersey increased from last year due to an increase in oil prices. 

    9. Miscellaneous Things

    We have included the cost of movie tickets, clothing, Internet, and fitness club, in the miscellaneous things.

    The following table will show you the average prices in New Jersey for those things.

    New Jersey for those things. 

    Miscellaneous thingsAverage costs 
    Movie tickets$12.33
    Clothing(Pair of Levis 501 Jeans) $52.57
    Internet$39.99 to $59.99 and more
    Fitness Club(Monthly fee for an adult)$76.29

    Comparison of living things in New Jersey

    In this blog section, we consider the prices of childcare, rent, salaries, and meals in mid-range restaurants in the following table. 

    Living things Average costs
    Rent(1 bedroom apartment in the city’s core)$2,979.20
    Salaries After Tax(Average monthly net salary)$7,238.89
    Meal in Mid-Range restaurants(2 people)$60.00

    If you are looking for the cost of living in New Jersey for a family of 4, you don’t need to worry about it. The price is only $87,509, which is less than the states with $10,112.

    Cost of living in New Jersey – Top 12 Cities 

    As mentioned earlier, where you decide to live will impact the average cost of living in New Jersey.

    So, we have done our detailed research to guide you properly. Have a quick look at the table given below to find out more:

    CityAverage Cost Of Living Per Month
    New Wark$1950
    Toms River$2500
    Hamilton Township$2100
    Cherry Hill$2500
    Brick Township$2015

    Overall, New Wark is the most affordable area to live while Jersey is at the top spot on the popularity level.

    In a nutshell, you need anywhere between $2000 – $2500 per person to live comfortably in this Garden State.

    Cost of living in New Jersey FAQs

    How much does it cost per month to live in NJ? 

    The housing rent for a typical renter ranges from $1,295 to $2,979, and it is more than the US national average of $1,023. Also, a typical renter can pay the amount of $1,920 for five-bedroom apartments or more than that. 

    What salary do I need to live in Jersey City? 

    As you know, New Jersey is an expensive city to live in. Therefore, it is essential to have a job in that state with the best salary. However, you need at least $4,500  to live in Jersey City. If you earn more than that, it is the best thing. 


    New Jersey has many exciting activities, from the Atlantic City Boardwalk to New Jersey farms and wineries. But, the cost of living in New Jersey is higher than the national average because of the land prices, rents, utilities, and much more. 

    Therefore, we have written this blog to introduce you to the current average prices of a few essential things, from housing to education and utilities. Also, this blog contains the costs of miscellaneous items, which you should know before moving to New Jersey. 

    In the end, we hope you like this blog and you will consider these prices. Please let us know if you have any doubts about this blog in the comment section. Also, let us know if you want to get more information on the other topics.

    Is it cheaper to live in NY or NJ? 

    Looking at the best cities in America? NY is a beautiful and expensive city. At the same time, New Jersey is less costly than New York City.

    You can say that New Jersey offers a reasonable cost of living. Also, it provides mesmerizing sceneries, thrilling sports activities, and friendly people to meet with. 

    Still, we suggest looking at the living cost and moving to New Jersey to spend the rest of your life.