F
28%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
80%
Housing NAT. AVG.
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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 Clifton New Jersey National
Cost of living128121100
Goods & Services107106100
Groceries102102100
Health care9699100
Housing180158100
Transportation108103100
Utilities111107100

An Overview of Cost of Living in Clifton, NJ

Getting a feel for the cost of living in Clifton 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 Clifton is 128, which is 28% 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.

If you're in pursuit of an economical living environment, Clifton may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Clifton falls within this bracket.

Housing costs are a major factor in the Clifton cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 79.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Clifton Affordable?

Wondering if Clifton is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Clifton, for example, the median home price is 92% higher than what folks pay nationally, and monthly rent is 50.5% higher than the usual rates. Plus, income levels matter too, with Clifton boasting a median household income of $83,086, which is 50.2% higher than the national average.

What Factors can Influence the Cost of Living in Clifton?

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Clifton, the transportation index is 8.3% higher than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Clifton, the prevailing sales tax rate starts at 6.625%, and income tax rates kick off at 1.4%.

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.

Where is the Data From?

The cost of living data in Clifton displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Clifton is 6% higher than the New Jersey average
  • The cost of living in Clifton is 28% higher than the national average
  • Clifton housing is 80% higher 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 Clifton

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Compare Clifton, NJ Cost of Living

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      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$108,981$9,082$2,543$3,270
      Renters$52,990$4,416$1,236$1,590
      A good way to judge both the affordability of the housing and the cost of living in Clifton is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Clifton has a median income of about $108,981 for people who own homes. Based on that number, a maximum of $2,543 should be spent on expenses related to housing. Renters have a slightly different median income, which is $52,990. Based on this average, renters should spend no more than $1,236 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Clifton National avg. Difference
      Haircut $25.62$24.265.6%
      Beauty Salon $41.67$45.568.6%
      Toothpaste $3.72$3.700.4%
      Shampoo $1.48$1.2815.6%
      Movie $15.78$12.1330.1%
      Bowling $21.00$18.0016.7%

      Groceries

      Item Clifton National avg. Difference
      Ground Beef $5.65$5.843.3%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.71$4.670.7%
      Potatoes $5.37$4.938.8%
      Pizza $11.49$12.094.9%
      Beer $11.33$10.418.8%

      Health Care

      Item Clifton National avg. Difference
      Optometrist $157.11$125.6825.0%
      Doctor $115.59$135.7814.9%
      Dentist $124.27$113.299.7%
      Ibuprofen $11.15$10.654.6%
      Lipitor $451.73$468.603.6%

      Housing

      Item Clifton National avg. Difference
      Home Price $354,700.00$184,700.0092.0%
      Avg. Mortgage Payment $3,568.94$2,346.6952.1%
      Apartment Rent $1,428.00$949.0050.5%

      Transportation

      Item Clifton National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $82.67$59.9238.0%

      Utilities

      Item Clifton National avg. Difference
      All Electricity $236.04$193.9921.7%
      Phone $186.61$192.252.9%
      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.
      East Orange, NJ64,65011111.1%
      Roselle, NJ21,69911212.0%
      Silver Lake CDP (Warren County), NJ32011313.2%
      Newark, NJ281,91711414.0%
      Paterson, NJ145,48411515.3%
      Clifton, NJ85,20112828.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Bloomington, MN85,2261099.1%
      Hoover, AL85,38611313.3%
      Hawthorne, CA85,41016262.0%
      Whittier, CA84,82116262.3%
      Bryan, TX85,645937.0%
      Clifton, NJ85,20112828.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.