Cost of living in Jersey City 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 Jersey City 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 Jersey City is 139, with 100 being the average.
The cost of living index in Jersey City is 1.4x higher than the national average.
Jersey City ranks as the #170 cheapest in New Jersey out of 251.
Jersey City ranks as the #5,546 cheapest out of 6,412 in the US.
The median home value in Jersey City is $437,200.
The median income in Jersey City is $81,390.
According to the most recent data on the cost of living, Jersey City has an overall cost of living index of 139, which is 1.4x higher than the national index of 100.
Compared to New Jersey, Jersey City has a cost of living index that's 1.3x higher than New Jersey's index of 111.
The standard of living in Jersey City ranks as #170 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Jersey City ranks as the #81 most expensive place in the Garden State.
For more reading on life in Jersey City, check out:
Six factors go into calculating the cost of living index in Jersey City. Here is how it fairs on each of the criteria:
The Services index in Jersey City is 135.
The Groceries index in Jersey City is 149.
The Health index in Jersey City is 112.
The Housing index in Jersey City is 164.
The Transportation index in Jersey City is 131.
The Utilities index in Jersey City is 96.
|Living Expense||Jersey City||New Jersey||National Average|
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 2017-2021. The key points are:
The Median Home Value in Jersey City is $437,200.
The Median Rent in Jersey City is $1,611.
The Median Income in Jersey City is $81,390.
The Home Value To Income in Jersey City is 5.4x.
The Rent To Monthly Income in Jersey City is 0.24x.
|Statistic||Jersey City||New Jersey||United States|
|Median Home Value||$437,200||$355,700||$244,900|
|Home Value To Income||5.4x||4.0x||3.5x|
|Rent To Monthly Income||0.24x||0.19x||0.2x|