Carteret, NJ Cost Of Living
Cost Of Living In Carteret, NJ Summary
Cost of living in Carteret research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Carteret is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Jersey, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Carteret is 123, with 100 being the average.
The cost of living index in Carteret is 1.2x higher than the national average.
Carteret ranks as the #103 cheapest in New Jersey out of 260.
Carteret ranks as the #4,598 cheapest out of 6,489 in the US.
The median home value in Carteret is $540,039.
The median income in Carteret is $87,553.
Table Of Contents
Carteret's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Carteret, NJ?
According to the most recent data on the cost of living, Carteret has an overall cost of living index of 123, which is 1.2x higher than the national index of 100.
Compared to New Jersey, Carteret has a cost of living index that's 1.0x higher than New Jersey's index of 122.
The standard of living in Carteret ranks as #103 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Carteret ranks as the #157 most expensive place in the Garden State.
For more reading on life in Carteret, check out:
In New Jersey
In America
Carteret Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Carteret. Here is how it fairs on each of the criteria:
The Services index in Carteret is 107.
The Groceries index in Carteret is 100.
The Health index in Carteret is 97.
The Housing index in Carteret is 156.
The Transportation index in Carteret is 106.
The Utilities index in Carteret is 109.
| Living Expense | Carteret | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 123 | 122 | 100 | |
| Services | 107 | 108 | 100 | |
| Groceries | 100 | 104 | 100 | |
| Health | 97 | 99 | 100 | |
| Housing | 156 | 159 | 100 | |
| Transportation | 106 | 101 | 100 | |
| Utilities | 109 | 107 | 100 | |
Carteret, NJ Housing Cost Breakdown
Housing swings affordability the most between places in New Jersey, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Carteret is $540,039.
The Median Rent in Carteret is $2,012.
The Median Income in Carteret is $87,553.
The Home Value To Income in Carteret is 6.2x.
The Rent To Monthly Income in Carteret is 0.28x.
| Statistic | Carteret | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $540,039 | $564,432 | $303,400 |
| Median Rent | $2,012 | $1,653 | $1,348 |
| Median Income | $87,553 | $101,050 | $78,538 |
| Home Value To Income | 6.2x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.28x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Carteret, NJ Costs By Category
Detailed Carteret Services Costs Vs. New Jersey
| Item | Carteret | New Jersey |
|---|---|---|
| Shampoo | $1.48 | $1.28 |
| Movie | $15.78 | $12.13 |
| Bowling | $21.0 | $18 |
| Haircut | $25.62 | $24.26 |
| Beauty Salon | $41.67 | $45.56 |
Detailed Carteret Groceries Costs Vs. New Jersey
| Item | Carteret | New Jersey |
|---|---|---|
| Ground Beef | $5.65 | $5.84 |
| Fried Chicken | $1.39 | $1.57 |
| Milk | $4.71 | $4.67 |
| Potatoes | $5.37 | $4.93 |
| Pizza | $11.49 | $12.09 |
| Beer | $11.33 | $10.41 |
| Toothpaste | $3.72 | $3.7 |
Detailed Carteret Health Costs Vs. New Jersey
| Item | Carteret | New Jersey |
|---|---|---|
| Optometrist | $157.11 | $125.68 |
| Doctor | $115.59 | $135.78 |
| Dentist | $124.27 | $113.29 |
Detailed Carteret Transportation Costs Vs. New Jersey
| Item | Carteret | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $82.67 | $59.92 |
Detailed Carteret Utilities Costs Vs. New Jersey
| Item | Carteret | New Jersey |
|---|---|---|
| All Electricity | $236.04 | $193.99 |
| Phone | $186.61 | $192.25 |
Carteret SnackAbility
/10
Cost Of Living In Cities Around Carteret
The cost of living varies in the cities and towns around Carteret. Here's a quick look at the cost of living in the most populous nearby places:
Perth Amboy, NJ has a cost of living index of 119, 1.0x Carteret.
Linden, NJ has a cost of living index of 119, 1.0x Carteret.
Westfield, NJ has a cost of living index of 178, 1.4x Carteret.
| City | Population | Cost Of Living | Vs. Carteret |
|---|---|---|---|
| Perth Amboy, NJ | 55,278 | 119 | 1.0x |
| Linden, NJ | 43,614 | 119 | 1.0x |
| Westfield, NJ | 30,760 | 178 | 1.4x |
| Rahway, NJ | 29,748 | 116 | 0.9x |
| Roselle, NJ | 22,455 | 111 | 0.9x |
| Woodbridge, NJ | 20,086 | 127 | 1.0x |
| Iselin, NJ | 19,151 | 131 | 1.1x |
| Colonia, NJ | 18,294 | 131 | 1.1x |
| Avenel, NJ | 17,143 | 122 | 1.0x |
| Middlesex, NJ | 14,518 | 126 | 1.0x |
