D-
13%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
35%
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 Echelon New Jersey National
Cost of living113121100
Goods & Services103106100
Groceries102102100
Health care9499100
Housing135158100
Transportation107103100
Utilities110107100

An Overview of Cost of Living in Echelon, NJ

The cost of living in Echelon affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Echelon is 113, which is 13% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs are a very significant part of the Echelon cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 35% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Echelon Affordable?

Wondering if Echelon 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 Echelon, for example, the median home price is 29% higher than what folks pay nationally, and monthly rent is 49.2% higher than the usual rates. Plus, income levels matter too, with Echelon boasting a median household income of $71,379, which is 29% higher than the national average.

What Factors can Influence the Cost of Living in Echelon?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Echelon, the general sales tax rate starts at 6.625%, and income tax rates begin at 1.4%.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Echelon, the housing index comes in at 35% higher than the national average.

Where is the Data From?

The cost of living data in Echelon 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 Echelon is 6% lower than the New Jersey average
  • The cost of living in Echelon is 13% higher than the national average
  • Echelon housing is 35% 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 Echelon

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Compare Echelon, 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$101,648$8,471$2,372$3,050
      Renters$64,732$5,394$1,510$1,942
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Echelon, NJ, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Echelon homeowners, is $101,648. This would allow for a maximum of $2,372 per month to be spent on housing costs. For renters, the median monthly income is $64,732 which would result in a maximum of $1,510 to be spent on rental costs.

      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 Echelon 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 Echelon 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 Echelon 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 Echelon National avg. Difference
      Home Price $238,200.00$184,700.0029.0%
      Avg. Mortgage Payment $2,169.88$2,346.697.5%
      Apartment Rent $1,416.00$949.0049.2%

      Transportation

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

      Utilities

      Item Echelon 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.
      Tavistock, NJ51043.8%
      Pine Valley, NJ111043.8%
      Audubon Park, NJ9698712.8%
      Camden, NJ73,742919.1%
      Colwyn, PA2,541918.7%
      Echelon, NJ12,68711313.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Crowley, LA12,6898910.9%
      St. Ann, MO12,6898416.3%
      Endicott, NY12,6848613.7%
      Meadville, PA12,684919.5%
      Lansdowne, VA12,67916059.9%
      Echelon, NJ12,68711313.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.