Typical Expenses
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Required annual income after taxes | $34,445 | $98,118 |
| Annual taxes | $8,330 | $25,022 |
| Required annual income before taxes | $42,775 | $123,141 |
What is a comfortable salary in NJ?
New York and New Jersey came in at fourth-highest. The survey determined that an individual needs to make an annual salary of $66,434 after taxes to live comfortably live in New York and New Jersey.
How much does it cost to live in NJ?
Our cost of living indices are based on a US average of 100. An amount below 100 means New Jersey is cheaper than the US average.
New Jersey cost of living is 120.4.
| COST OF LIVING | New Jersey | United States |
|---|---|---|
| Health | 88.4 | 100 |
| Housing | 142.4 | 100 |
| Median Home Cost | $397,900 | $291,700 |
| Utilities | 109.2 | 100 |
How much does it cost per month to live in NJ?
New Jersey Housing Costs
The typical renter in New Jersey spends $1,295 a month on housing, $272 more than the $1,023 national median monthly rent. Monthly rent for a one-bedroom in the state is $1,098, while the typical rent for a unit with five or more bedrooms is $1,920.
What salary do you need to live in Jersey City?
The cost of living in Jersey City, NJ is about the same as in New York, NY. You would have to earn a salary of $60,000 to maintain your current standard of living.
What salary is middle class in NJ?
The overall average in New Jersey for what is considered to be middle class income for a family of four is between $60,000 and $177,000 a year. According to Rutgers University economist James Hughes, “middle class” can mean many things these days.
What salary is considered rich in NJ?
If you have an annual salary of above $250,000, then congratulations, you are considered rich in New Jersey. The Garden State is one of only 8 states that need at least a $250,000 annual salary to be considered rich.
What is the cheapest place to live in New Jersey?
Most Affordable Places to Live in New Jersey
- Hightstown.
- New Brunswick.
- Phillipsburg.
- Pompton Lakes.
- Rahway.
- Toms River.
Is Jersey expensive to live?
Cost of living in Jersey can be high compared to other countries, although salaries are often comparably higher too.
What is the average salary in New Jersey?
$64,207
Average Salary in New Jersey
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $100,044 | $8,337 |
| 75th Percentile | $75,033 | $6,252 |
| Average | $64,207 | $5,350 |
| 25th Percentile | $49,522 | $4,126 |
How much do jobs pay in New Jersey?
New Jersey Jobs by Salary
| Job Title | Range | Average |
|---|---|---|
| Job Title:Project Manager, (Unspecified Type / General) | Range:$54k – $129k | Average:$83,675 |
| Operations Manager | Range:$49k – $118k | Average:$72,760 |
| Software Engineer | Range:$66k – $129k | Average:$87,640 |
| Office Manager | Range:$37k – $74k | Average:$53,510 |
Is it cheaper to live in Texas or New Jersey?
The cost of living in Texas is only slightly higher than the national average, but with lower unemployment rates, it makes Texas an attractive place to live for many. It is certainly more affordable than New Jersey, with Dallas coming in around 45% cheaper than Jersey City and Houston nearly 52% cheaper.
Are groceries expensive in NJ?
On average, grocery costs are about 5.8% more expensive in New Jersey than the national average. That means shoppers will pay about $106 for a cart of food that may cost $100 in other communities.
How much can a single person live?
This means a single person needs to make at least $66,434 after taxes to live comfortably. After their basic living expenses are covered, an individual could spend $19,930 on wants and set $13,287 aside for savings or debt paydown.
How much does it cost to live comfortably in Jersey City?
Jersey City cost of living is 146.8
| COST OF LIVING | Jersey City | New Jersey |
|---|---|---|
| Health | 91.5 | 88.4 |
| Housing | 209.9 | 142.4 |
| Median Home Cost | $572,300 | $397,900 |
| Utilities | 111.9 | 109.2 |
Is it cheaper to live in Massachusetts or NJ?
Massachusetts is 7.5% more expensive than New Jersey.
What is a good salary in NJ 2022?
How much does a Comfortable make in New Jersey? As of Aug 2, 2022, the average annual pay for the Comfortable jobs category in New Jersey is $44,025 a year.
What is a good salary for a single person NJ?
MIT’s Living Wage Calculator lays out how much you need to make in New Jersey to cover not just food but the other essentials, and the numbers show that $8.80 doesn’t cut it. As an average for the whole state, a single adult would need to make $13.72 an hour. If that person had a child, $28.56.
What is considered low income in New Jersey?
By Carla Astudillo | NJ Advance Media for NJ.com
A New Jersey family of four in 2018 has to earn $71,900 a year or less to be considered low-income, according to the Department of Housing and Urban Development — an almost six percent increase from last year.
What is the richest town in NJ?
Alpine is one of the wealthiest towns in New Jersey. Alpine is a small neighborhood located in Bergen County with a population of 1762.
2. Alpine, NJ.
| Median Household Income | $250,000+ |
|---|---|
| Bachelor’s Degree of Higher | 72.6% |
| Median Home Value | $2,000,000 |
What salary is upper middle class in NJ?
A family earning between $32,048 and $53,413 was considered lower-middle class. For high earners, a three-person family needed an income between $106,827 and $373,894 to be considered upper-middle class, Rose says. Those who earn more than $373,894 are rich.