Margate City, NJ Cost Of Living
Cost Of Living In Margate City, NJ Summary
Cost of living in Margate 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 Margate 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 Margate City is 140, with 100 being the average.
The cost of living index in Margate City is 1.4x higher than the national average.
Margate City ranks as the #172 cheapest in New Jersey out of 260.
Margate City ranks as the #5,404 cheapest out of 6,489 in the US.
The median home value in Margate City is $1,063,397.
The median income in Margate City is $114,417.
Table Of Contents
Margate City's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Margate City, NJ?
According to the most recent data on the cost of living, Margate City has an overall cost of living index of 140, which is 1.4x higher than the national index of 100.
Compared to New Jersey, Margate City has a cost of living index that's 1.1x higher than New Jersey's index of 122.
The standard of living in Margate City ranks as #172 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Margate City ranks as the #88 most expensive place in the Garden State.
For more reading on life in Margate City, check out:
In New Jersey
In America
Margate City Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Margate City. Here is how it fairs on each of the criteria:
The Services index in Margate City is 104.
The Groceries index in Margate City is 102.
The Health index in Margate City is 95.
The Housing index in Margate City is 231.
The Transportation index in Margate City is 108.
The Utilities index in Margate City is 111.
| Living Expense | Margate City | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 140 | 122 | 100 | |
| Services | 104 | 108 | 100 | |
| Groceries | 102 | 104 | 100 | |
| Health | 95 | 99 | 100 | |
| Housing | 231 | 159 | 100 | |
| Transportation | 108 | 101 | 100 | |
| Utilities | 111 | 107 | 100 | |
Margate City, 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 Margate City is $1,063,397.
The Median Rent in Margate City is $1,368.
The Median Income in Margate City is $114,417.
The Home Value To Income in Margate City is 9.3x.
The Rent To Monthly Income in Margate City is 0.14x.
| Statistic | Margate City | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $1,063,397 | $564,432 | $303,400 |
| Median Rent | $1,368 | $1,653 | $1,348 |
| Median Income | $114,417 | $101,050 | $78,538 |
| Home Value To Income | 9.3x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.14x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Margate City, NJ Costs By Category
Detailed Margate City Services Costs Vs. New Jersey
| Item | Margate City | New Jersey |
|---|---|---|
| Shampoo | $1.52 | $1.28 |
| Movie | $13.75 | $12.13 |
| Bowling | $19.47 | $18 |
| Haircut | $23.54 | $24.26 |
| Beauty Salon | $66.27 | $45.56 |
Detailed Margate City Groceries Costs Vs. New Jersey
| Item | Margate City | New Jersey |
|---|---|---|
| Ground Beef | $5.76 | $5.84 |
| Fried Chicken | $1.46 | $1.57 |
| Milk | $4.67 | $4.67 |
| Potatoes | $5.37 | $4.93 |
| Pizza | $11.73 | $12.09 |
| Beer | $11.99 | $10.41 |
| Toothpaste | $3.65 | $3.7 |
Detailed Margate City Health Costs Vs. New Jersey
| Item | Margate City | New Jersey |
|---|---|---|
| Optometrist | $123.5 | $125.68 |
| Doctor | $132.56 | $135.78 |
| Dentist | $103.31 | $113.29 |
Detailed Margate City Transportation Costs Vs. New Jersey
| Item | Margate City | New Jersey |
|---|---|---|
| Gasoline | $3.53 | $3.46 |
| Tire Balancing | $70.89 | $59.92 |
Detailed Margate City Utilities Costs Vs. New Jersey
| Item | Margate City | New Jersey |
|---|---|---|
| All Electricity | $222.45 | $193.99 |
| Phone | $198.27 | $192.25 |
Margate City SnackAbility
/10
