Margate City, NJ Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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 134, with 100 being the average.

  • The cost of living index in Margate City is 1.3x higher than the national average.

  • Margate City ranks as the #149 cheapest in New Jersey out of 251.

  • Margate City ranks as the #5,400 cheapest out of 6,412 in the US.

  • The median home value in Margate City is $509,700.

  • The median income in Margate City is $106,053.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
134
Margate City's Overall Cost Of Living
1.3x
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 134, which is 1.3x higher than the national index of 100.

Compared to New Jersey, Margate City has a cost of living index that's 1.2x higher than New Jersey's index of 111.

The standard of living in Margate City ranks as #149 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Margate City ranks as the #102 most expensive place in the Garden State.

For more reading on life in Margate City, check out:

149 out of 251
In New Jersey
5,400 out of 6,412
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 99.

  • The Groceries index in Margate City is 100.

  • The Health index in Margate City is 92.

  • The Housing index in Margate City is 214.

  • The Transportation index in Margate City is 107.

  • The Utilities index in Margate City is 93.

Living Expense Margate City New Jersey National Average
Overall 134 111 100
Services 99 104 100
Groceries 100 104 100
Health 92 95 100
Housing 214 130 100
Transportation 107 106 100
Utilities 93 108 100
For more reading on cost of living around New Jersey, check out:
Margate City Cost of Living Vs. NJ

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 2017-2021. The key points are:

  • The Median Home Value in Margate City is $509,700.

  • The Median Rent in Margate City is $1,337.

  • The Median Income in Margate City is $106,053.

  • The Home Value To Income in Margate City is 4.8x.

  • The Rent To Monthly Income in Margate City is 0.15x.

Statistic Margate City New Jersey United States
Median Home Value $509,700 $355,700 $244,900
Median Rent $1,337 $1,436 $1,163
Median Income $106,053 $89,703 $69,021
Home Value To Income 4.8x 4.0x 3.5x
Rent To Monthly Income 0.15x 0.19x 0.2x
Search Homes For Sale In Margate City, NJ
$509,700
Median Home Value
$1,337
Median Rent
$106,053
Median Income

Margate City, NJ Costs By Category

Detailed Margate City Services Costs Vs. New Jersey

Item Margate City New Jersey
Shampoo $1.03 $1.06
Movie $10.99 $10.68
Bowling $13.51 $14.67
Haircut $18.79 $18.62
Beauty Salon $36.26 $39.05

Detailed Margate City Groceries Costs Vs. New Jersey

Item Margate City New Jersey
Ground Beef $4.23 $4.22
Fried Chicken $1.43 $1.39
Milk $2.48 $2.05
Potatoes $2.69 $3.29
Pizza $10.99 $10.62
Beer $9.0 $9.38
Toothpaste $1.92 $2.34

Detailed Margate City Health Costs Vs. New Jersey

Item Margate City New Jersey
Optometrist $113.84 $108.57
Doctor $81.68 $116.17
Dentist $101.93 $99.13

Detailed Margate City Transportation Costs Vs. New Jersey

Item Margate City New Jersey
Gasoline $2.25 $2.22
Tire Balancing $58.27 $50.07

Detailed Margate City Utilities Costs Vs. New Jersey

Item Margate City New Jersey
All Electricity $155.11 $167.67
Phone $180.04 $175.64

Margate City SnackAbility

9.5
/10
Overall SnackAbility
Jobs
8.5/10
Housing
9
Affordability
7
Diversity
4
Safety
8
Amenities
8.5
Education
9
Commute
5

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