Somers Point, NJ Cost Of Living
Cost Of Living In Somers Point, NJ Summary
Cost of living in Somers Point 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 Somers Point 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 Somers Point is 105, with 100 being the average.
The cost of living index in Somers Point is 1.1x higher than the national average.
Somers Point ranks as the #31 cheapest in New Jersey out of 260.
Somers Point ranks as the #3,177 cheapest out of 6,489 in the US.
The median home value in Somers Point is $414,789.
The median income in Somers Point is $68,542.
Table Of Contents
Somers Point's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Somers Point, NJ?
According to the most recent data on the cost of living, Somers Point has an overall cost of living index of 105, which is 1.1x higher than the national index of 100.
Compared to New Jersey, Somers Point has a cost of living index that's 0.9x lower than New Jersey's index of 122.
The standard of living in Somers Point ranks as #31 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Somers Point ranks as the #229 most expensive place in the Garden State.
For more reading on life in Somers Point, check out:
In New Jersey
In America
Somers Point Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Somers Point. Here is how it fairs on each of the criteria:
The Services index in Somers Point is 103.
The Groceries index in Somers Point is 98.
The Health index in Somers Point is 100.
The Housing index in Somers Point is 120.
The Transportation index in Somers Point is 103.
The Utilities index in Somers Point is 106.
| Living Expense | Somers Point | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 105 | 122 | 100 | |
| Services | 103 | 108 | 100 | |
| Groceries | 98 | 104 | 100 | |
| Health | 100 | 99 | 100 | |
| Housing | 120 | 159 | 100 | |
| Transportation | 103 | 101 | 100 | |
| Utilities | 106 | 107 | 100 | |
Somers Point, 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 Somers Point is $414,789.
The Median Rent in Somers Point is $1,308.
The Median Income in Somers Point is $68,542.
The Home Value To Income in Somers Point is 6.1x.
The Rent To Monthly Income in Somers Point is 0.23x.
| Statistic | Somers Point | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $414,789 | $564,432 | $303,400 |
| Median Rent | $1,308 | $1,653 | $1,348 |
| Median Income | $68,542 | $101,050 | $78,538 |
| Home Value To Income | 6.1x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.23x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Somers Point, NJ Costs By Category
Detailed Somers Point Services Costs Vs. New Jersey
| Item | Somers Point | New Jersey |
|---|---|---|
| Shampoo | $1.28 | $1.28 |
| Movie | $12.4 | $12.13 |
| Bowling | $19.44 | $18 |
| Haircut | $23.17 | $24.26 |
| Beauty Salon | $52.17 | $45.56 |
Detailed Somers Point Groceries Costs Vs. New Jersey
| Item | Somers Point | New Jersey |
|---|---|---|
| Ground Beef | $6.11 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.68 | $4.67 |
| Potatoes | $5.38 | $4.93 |
| Pizza | $12.29 | $12.09 |
| Beer | $11.43 | $10.41 |
| Toothpaste | $3.59 | $3.7 |
Detailed Somers Point Health Costs Vs. New Jersey
| Item | Somers Point | New Jersey |
|---|---|---|
| Optometrist | $143.3 | $125.68 |
| Doctor | $134.5 | $135.78 |
| Dentist | $120.11 | $113.29 |
Detailed Somers Point Transportation Costs Vs. New Jersey
| Item | Somers Point | New Jersey |
|---|---|---|
| Gasoline | $3.44 | $3.46 |
| Tire Balancing | $62.39 | $59.92 |
Detailed Somers Point Utilities Costs Vs. New Jersey
| Item | Somers Point | New Jersey |
|---|---|---|
| All Electricity | $214.53 | $193.99 |
| Phone | $195.25 | $192.25 |
Somers Point SnackAbility
/10
Cost Of Living In Cities Around Somers Point
The cost of living varies in the cities and towns around Somers Point. Here's a quick look at the cost of living in the most populous nearby places:
Pleasantville, NJ has a cost of living index of 99, 0.9x Somers Point.
Absecon, NJ has a cost of living index of 110, 1.0x Somers Point.
Northfield, NJ has a cost of living index of 111, 1.1x Somers Point.
| City | Population | Cost Of Living | Vs. Somers Point |
|---|---|---|---|
| Pleasantville, NJ | 20,604 | 99 | 0.9x |
| Absecon, NJ | 9,099 | 110 | 1.0x |
| Northfield, NJ | 8,427 | 111 | 1.1x |
| Pomona, NJ | 8,141 | 100 | 1.0x |
| Brigantine, NJ | 7,702 | 127 | 1.2x |
| Linwood, NJ | 6,954 | 120 | 1.1x |
