C-
1%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
5%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Bellmawr New Jersey National
Cost of living101121100
Goods & Services103106100
Groceries102102100
Health care9499100
Housing95158100
Transportation107103100
Utilities110107100

An Overview of Cost of Living in Bellmawr, NJ

Getting a feel for the cost of living in Bellmawr is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Bellmawr is 101, which is 1% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Bellmawr aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Bellmawr residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Bellmawr Affordable?

Is Bellmawr affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Bellmawr, for instance, where the median home price falls 8.3% lower than the national average, and monthly rent rates are 3% higher than usual. Additionally, median income levels contribute to the equation, with Bellmawr flaunting a median household income of $60,041, 8.5% higher than the national norm.

What Factors can Influence the Cost of Living in Bellmawr?

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Bellmawr, healthcare costs are 6.5% lower than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Bellmawr, the groceries index is 2% higher than the national average.

Where is the Data From?

The Bellmawr cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

New Real Estate Listings in Bellmawr Area
Search Homes for Sale in Bellmawr, NJ

Cost Of Living Quick Facts

  • The cost of living in Bellmawr is 16% lower than the New Jersey average
  • The cost of living in Bellmawr is 1% higher than the national average
  • Bellmawr housing is 5% lower than the national average
  • New Jersey general sales tax is 30% higher than the national average
  • New Jersey state income tax is 46% lower than the national average

Most Affordable Places to Live in and Around Bellmawr

See all the best places to live around Bellmawr

Compare Bellmawr, NJ Cost of Living

      vs
      How would you rate the cost of living in Bellmawr?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Bellmawr?
      Write a review to give others more information about this area.
      See all Bellmawr poll results

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$72,462$6,039$1,691$2,174
      Renters$47,656$3,971$1,112$1,430
      To approximate the cost of living and the housing affordability in Bellmawr, NJ, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Bellmawr have a median income of $72,462. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,691 per month to avoid calamity and poverty. The renters in the city have an income of about $47,656, which would make their monthly maximum allowable rental costs $1,112.

      New Jersey Sales Tax

      State General Sales Tax With Max Surtax
      New Jersey 6.625% 12.625%

      New Jersey Income Tax

      State Income Tax (Low) Income Tax (High)
      New Jersey 1.4% 10.75%

      Goods & Services

      Item Bellmawr National avg. Difference
      Haircut $23.54$24.263.0%
      Beauty Salon $66.27$45.5645.4%
      Toothpaste $3.65$3.701.5%
      Shampoo $1.52$1.2818.4%
      Movie $13.75$12.1313.3%
      Bowling $19.47$18.008.1%

      Groceries

      Item Bellmawr National avg. Difference
      Ground Beef $5.76$5.841.3%
      Fried Chicken $1.46$1.577.4%
      Milk $4.67$4.670.0%
      Potatoes $5.37$4.938.8%
      Pizza $11.73$12.092.9%
      Beer $11.99$10.4115.2%

      Health Care

      Item Bellmawr National avg. Difference
      Optometrist $123.50$125.681.7%
      Doctor $132.56$135.782.4%
      Dentist $103.31$113.298.8%
      Ibuprofen $11.22$10.655.3%
      Lipitor $398.10$468.6015.0%

      Housing

      Item Bellmawr National avg. Difference
      Home Price $169,400.00$184,700.008.3%
      Avg. Mortgage Payment $2,169.88$2,346.697.5%
      Apartment Rent $977.00$949.003.0%

      Transportation

      Item Bellmawr National avg. Difference
      Gasoline $3.53$3.462.0%
      Tire Balancing $70.89$59.9218.3%

      Utilities

      Item Bellmawr National avg. Difference
      All Electricity $222.45$193.9914.7%
      Phone $198.27$192.253.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Pine Valley, NJ111043.8%
      Tavistock, NJ51043.8%
      Prospect Park CDP, PA2248217.9%
      Audubon Park, NJ9698712.8%
      Chester, PA33,8558910.6%
      Bellmawr, NJ11,3751011.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Nanakuli, HI11,37915049.9%
      Campbellsville, KY11,370909.8%
      Moncks Corner, SC11,3701011.5%
      Stuarts Draft, VA11,3801032.6%
      Peru, IN11,3698020.1%
      Bellmawr, NJ11,3751011.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.