Cost of living in new jersey vs new york

The cost of living in New Jersey versus New York can vary depending on several factors such as lifestyle, location, and personal choices. However, here are some general differences and similarities between the two states:

Housing:

• New Jersey: The median home price in New Jersey is around $340,000, with apartments ranging from $1,500 to $3,000 per month.
• New York: The median home price in New York is around $450,000, with apartments ranging from $2,000 to $5,000 per month.

Taxes:

• New Jersey: New Jersey has a high state income tax rate of 8.97%, with a sales tax rate of 6.625%.
• New York: New York has a state income tax rate of 8.82%, with a sales tax rate of 8.875%.

Food:

• New Jersey: The cost of food in New Jersey is generally lower than in New York, with a gallon of milk costing around $2.50 and a loaf of bread costing around $2.50.
• New York: The cost of food in New York is generally higher than in New Jersey, with a gallon of milk costing around $3.50 and a loaf of bread costing around $3.50.

Transportation:

• New Jersey: New Jersey has a comprehensive public transportation system, including buses and trains, with a monthly pass costing around $100.
• New York: New York has a comprehensive public transportation system, including subways, buses, and trains, with a monthly pass costing around $130.

Utilities:

• New Jersey: The cost of utilities in New Jersey is generally lower than in New York, with an average monthly electricity bill of around $100.
• New York: The cost of utilities in New York is generally higher than in New Jersey, with an average monthly electricity bill of around $150.

Healthcare:

• New Jersey: New Jersey has a high-quality healthcare system, with a range of hospitals and medical centers, including the world-renowned Hackensack University Medical Center.
• New York: New York has a world-class healthcare system, with a range of hospitals and medical centers, including the prestigious NewYork-Presbyterian Hospital.

Lifestyle:

• New Jersey: New Jersey has a more suburban lifestyle, with a mix of urban and rural areas, and a strong sense of community.
• New York: New York is a bustling metropolis, with a fast-paced lifestyle, a wide range of cultural and entertainment options, and a diverse population.

Overall Cost of Living:

• New Jersey: The overall cost of living in New Jersey is around 145% of the national average, with a median household income of around $80,000.
• New York: The overall cost of living in New York is around 170% of the national average, with a median household income of around $90,000.

In summary, while both New Jersey and New York have their own unique advantages and disadvantages, New Jersey tends to be more affordable in terms of housing, food, and utilities, while New York offers a more vibrant and diverse lifestyle, with access to world-class healthcare and cultural institutions. Ultimately, the choice between the two states will depend on individual priorities and preferences.