Cost of Living in New Jersey
Based on 3 cities we track in New Jersey.
Cost of living in New Jersey is shaped mostly by rent across the 3 cities we track there. A one-bedroom apartment runs around $1,183 a month — 10% higher than the $1,076 median across the 51 states we track.
Median household income across those cities is $53,766, 19% lower than the $66,029 median across the states we track. New Jersey has a top state income tax rate of 10.75% and a 6.625% state sales tax.
State Medians
Median 1BR Rent
$1,183
Median Home Value
$337,800
Median Income
$53,766
Avg Temperature
54.9°F
Medians across the New Jersey cities we track — not a statewide population-weighted figure.
State Taxes
State Sales Tax
6.625%
State Income Tax (top rate)
Up to 10.75%
Cities in New Jersey
Compare New Jersey with
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New Jersey cost of living — FAQ
- Is New Jersey expensive to live in?
- New Jersey is on the pricier side of the 51 states we track. Its median one-bedroom rent of $1,183 ranks #15 of 51 and is 10% higher than the $1,076 median.
- What is the average rent in New Jersey?
- Across the 3 cities we track in New Jersey, average rent runs a studio around $1,111, a one-bedroom around $1,183, a two-bedroom around $1,468, a three-bedroom around $1,729 per month (US Census ACS).
- What is the median home price in New Jersey?
- The median home value across the cities we track in New Jersey is $337,800 — 25% higher than the $270,100 median across the states we track.
- Does New Jersey have a state income tax?
- Yes — New Jersey's top state income tax rate is 10.75% (most filers pay less than the top rate). Its state sales tax rate is 6.625%; local jurisdictions may add more.
- How much do you need to earn to live in New Jersey?
- To keep a one-bedroom rent of $1,183 near the recommended 30% of gross income, you'd want to earn roughly $47,000 a year. Median household income across the cities we track in New Jersey is $53,766.
Sources: US Census Bureau, ACS 5-Year; NOAA Climate Normals 1981–2010; Tax Foundation 2026 (state taxes).