Cost of Living in New Jersey
Overall index: 115.3 — ranked #8 of 51 (above average cost).
Where your money goes in New Jersey
Estimated spending breakdown on a $75,000 salary in New Jersey
Estimated annual spending: $77,314($2,314 over budget)
What things cost in New Jersey
| Item | New Jersey | US Average | Difference |
|---|---|---|---|
| Median home price | $500,000 | $360,000 | +$140,000 |
| Average 2BR rent | $1,987/mo | $1,400/mo | +$587 |
| Gas (regular) | $3.44/gal | $3.50/gal | $0.06 |
| Electric bill | $144/mo | $137/mo | +$7 |
| Infant childcare | $18,155/yr | $13,500/yr | +$4,655 |
| Dozen eggs | $5.12 | $4.95 | +$0.17 |
| Monthly groceries | $424/mo | $410/mo | +$14 |
Sources: AAA gas prices, EIA electricity, Zillow ZHVI, Child Care Aware, MERIC/C2ER indices. Eggs and groceries estimated from MERIC grocery index applied to BLS averages.
Cost of living index by category
National average = 100 for each category
Salary equivalent: New Jersey vs national average
What a salary in New Jersey is actually worth in national-average purchasing power.
| Salary | Purchasing power | Difference |
|---|---|---|
| $50,000 | $57,650 | +$7,650 |
| $75,000 | $86,475 | +$11,475 |
| $100,000 | $115,300 | +$15,300 |
| $125,000 | $144,125 | +$19,125 |
| $150,000 | $172,950 | +$22,950 |
| $200,000 | $230,600 | +$30,600 |
Positive difference means you need to earn more in New Jersey to match national-average purchasing power.
Compare New Jersey with other states
FAQ
What is the cost of living in New Jersey?
New Jersey has an overall cost-of-living index of 115.3, making it above average cost (ranked #8 of 51 states, where #1 is most expensive). The national average is 100. Housing is the biggest factor — median home prices are $500,000 and average 2-bedroom rent is $1,987/month.
Is New Jersey expensive to live in?
Yes, New Jersey is more expensive than the national average with an overall index of 115.3 (average = 100). Housing costs are especially high at 141.9% of the national average.
How much does housing cost in New Jersey?
The median home price in New Jersey is $500,000 and average 2-bedroom rent is $1,987/month. New Jersey's housing index is 141.9 (national average = 100), meaning housing is 41.900000000000006% above the national average.
How much are groceries in New Jersey?
New Jersey's grocery index is 103.5 (national average = 100). A dozen eggs costs approximately $5.12 and a typical monthly grocery bill for a household runs about $424, compared to the national average of $410.
What is the average electric bill in New Jersey?
The average monthly electric bill in New Jersey is $144 based on the state's residential rate of 16.29¢/kWh and average household consumption of 886 kWh/month (EIA 2024).
How much does childcare cost in New Jersey?
Center-based infant childcare in New Jersey averages $18,155/year ($1,513/month). The national average is approximately $13,500/year. This data is from Child Care Aware of America's 2024 report.
What salary do I need to live comfortably in New Jersey?
A $75,000 salary in New Jersey has the same purchasing power as $65,048 at the national average cost of living. Because New Jersey is above average in cost, you may need a higher salary to maintain the same lifestyle. Use the calculator above with your specific salary to see how it compares.
Where does this data come from?
Cost-of-living indices are from the MERIC/C2ER 2025 Annual Average. Dollar amounts use AAA gas prices (March 2025), EIA electricity rates (2024), Child Care Aware childcare costs (2024), Zillow home values (2024-2025), and BEA Regional Price Parities.
Related tools
- New Jersey Paycheck Calculator — Calculate take-home pay after New Jersey taxes
- House Affordability in New Jersey — How much house can you afford?
- Take-Home Pay by State — Compare New Jersey take-home pay across all 50 states
- Compare Job Offers — Factor in salary, equity, and cost of living
- Compare any two states
Based on MERIC/C2ER 2025 indices, AAA gas prices (March 2025), EIA electricity rates (2024), Child Care Aware childcare costs (2024), and Zillow home values (2024-2025). Individual costs vary by city, neighborhood, and lifestyle.