cost of living in New Jersey, USA

How Much Does It Cost To Live In New Jersey

Building in New Jersey
Photo credit:123RF

Relocating to a new town could take a toll on your mind. Simultaneously, it could also give you the fresh start you need. Whether you are moving for a new job, graduation, or a better lifestyle – you should be calculating the financial damage of living here. 

New Jersey is one of the most popular destinations for people trying to perk their lifestyle or explore better opportunities. Besides, there are plenty of reasons why you should be moving here. For starters, you get access to Philadelphia and New York. Not only this but you also get loads of cultural and leisure stuff at your doorstep.

The city boasts beaches, amusement parks, and one of the largest malls in the country. 

It doesn’t end here.

The food here is spell-binding! You can stroll in the neighborhood diners or Michelin-start restaurants, and the scrumptious tastes will blow your mind!

Apart from all the good parts, we must address some fundamental questions like the cost of living here in New Jersey.

Cost Of Living In New Jersey

Tower in New Jersey
Photo Credit: 123RF

Experts believe that living in New Jersey could imbalance the budget scales of many. According to, living in New Jersey costs 20% more than the national average. 

Despite this, the Garden State has a consistent economic pattern. The schools here are the best in the country. Plus, the lifestyle upgrade you witness here is rare in other cities.

This guide will tell you about the costs incurred when living in New Jersey. We hope you have crafted a viable budget plan for yourself by the time you are done with the reading!

Housing Cost In New Jersey

If you want to get a home in the beautiful city of New Jersey, you will find this place to be one of the best residential markets. It is home to two of America’s wealthiest countries – Somerset County and Hunterdon County. 

The NeighborhoodScout states that the median home value in New Jersey is $418,500 in March 2022. This number can get higher in some cities. Jersey City has a $518,860 median home value, but Montclair ousts it with a median home value of $852,555. 

The high residential costs in Garden State mean that you require a mortgage to finance your home. You can evaluate the New Jersey mortgage calculator to check your monthly bills. The five most prominent cities in New Jersey have more renters than homeowners. 

As per the records of February 2022 data of Apartment List, the cost of a single-bedroom apartment in Jersey City is $1894. But a single-bedroom apartment in Hoboken is $3011. The national one-bedroom apartment median is $1129.

It would help if you dug more profoundly into the overall cost of living in New Jersey. The cost of living accounts for many spending areas like transport, food, and more. 

Know that it will be a lengthy process when you purchase a home. After you have paid the down payment, you have to pay the closing costs too. And if you have a home in a former location, selling that home is also necessary. 

After purchasing the home and moving there, you must pay the utility and maintenance costs. Considering those will help you to make an informed decision. 

Utility Cost In New Jersey

The housing costs are pretty high whether you rent here or buy the house. Let us tell you one of the good financial news about New Jersey. According to March 2022, Save on Energy Electric Bill Report, New Jersey requires an average of 683 kWh monthly. People have to pay an average monthly energy bill of  $109.28. This is $13.51 lower than the U.S. average of $122.79. One should learn about these expenses when calculating the monthly costs of living in New Jersey.

However, the prices can be higher in the bigger cities. states that the average utility bill for a 915-square foot apartment in Newark, NJ is $291. Trenton has this set at $150.83, and Jersey City has $88.70.

Healthcare Acess And Affordability In New Jersey

New Jersey is ranked 14 when it comes to healthcare affordability and access. When you research the average cost of living in New Jersey, these costs are essential because they are a part of our living. Affordability is measured by the rates set for covering insurance. Along with this, the out-of-the-pocket expenses are also paid when you are receiving healthcare in any city.

When you are moving here, you should be realistic about the critical factors like affording healthcare. Like many Americans, New Jersey adults experience immense hardships because of the high healthcare prices. 50% of the New Jersey adults have experienced either of the following affordability issues when it comes to healthcare:

  • They stay uninsured due to high premium costs
  • They delay healthcare due to high expenses
  • They struggle to pay medical bills, so they don’t go for it

According to the Altarum Healthcare Value Hub, New Jersey adults worry about affording healthcare in the future. Over 77% of the people living here reported being worried or very worried about affording some healthcare factors in the future. The most significant concern about being unable to afford health insurance is one of these aspects.

After the pandemic, most of the residents in New Jersey expressed their dissatisfaction with the health system. 

  • Almost 72 percent agreed or strongly agreed that the system should change
  • And 29 percent agreed or strongly agreed that they have a great healthcare system in the U.S.

Remember that access to healthcare is measured by identifying barriers that might prevent care delivery, like the inability to access insurance coverage.

Transport Costs In New Jersey

Most of the people living here use public transport. The cities Jersey City, Hoboken, and Newark contain the highest public transportation users in the country. The Census Bureau says that the average commute time in New Jersey is 37.7 minutes in 2019. This is ten minutes longer than the average commute in the United States, 27.6 minutes.

If you don’t opt for public transport, you should purchase a car to move around the city. The GasBuddy data from March 2022 found that the average price of a gallon of gas in the Garden State is $4.27.

The Cost Of Food In New Jersey

According to the MIT Living Wage Calculator, an adult with no children in New Jersey needs a living wage of  $33,696 before paying the taxes. The food expenses from this annual income account for  $33,696. This amount doesn’t give the residents a chance to afford the luxuries.

It is essential to note that the food expenses may vary across several cities in New Jersey. The 2022 data from states the average cost of a dozen eggs and a gallon of milk in Newark is $2.59 and $4.24, respectively.

Costs Incurred For Child Care In New Jersey

The average cost of hiring a child care provider in New Jersey is $16.27 per hour. Given that the minimum wage rate in New Jersey is $13 per hour, you should be expecting to receive an hourly rate between $13 and $25.

Moreover, a month of infant care at a child care center in New Jersey costs families an average amount of $1082. A family with children should determine the average cost of living in New Jersey as they will be paying more expenses than adult families.

Phone Bills In New Jersey

Having a telephone is the need of the hour. You cannot plan to live in a place like New Jersey without having a phone for accessibility. 

Even though there are several telephone service providers, there is one that fits the bill for most migrants. The Lifeline and Affordable Connectivity Programs help make phone and internet services more affordable for low-income individuals. 

It would help to scrutinize these plans’ criteria before you put your finger on what works for you. Research what is the cost of living in New Jersey and focus on the phone bills to finalize the calculations. 

Thorough research enables you to apply for either of the telephone plans with confidence.

Budget For Your Move To New Jersey

A budget is one of the most crucial tools to secure if you want to achieve a financial future in New Jersey. Without a budget, you may end up spending more on random things. This will flicker the budget and make you cut loose on the essentials.

Make sure you research the cost of living in New Jersey to account for unexpected things.

We have concluded that living in New Jersey isn’t an easy move. You have to consider the cost of living in New Jersey, as living here may require you to work harder. Nonetheless, the lifestyle upgrade and the opportunities you find here are worth the shot.

Feeling ready to make the big move?

Head over here to begin your journey
Or start ticking off your relocation checklist here

Still unsure?

Learn more about the U.S. here
Explore more destinations here 

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