C
2%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
16%
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 Gloucester City New Jersey National
Cost of living98121100
Goods & Services103106100
Groceries102102100
Health care9499100
Housing84158100
Transportation107103100
Utilities110107100

An Overview of Cost of Living in Gloucester City, NJ

Are you thinking about relocating, but curious about the potential cost of living in Gloucester City? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Gloucester City stands at 98, making it 2% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Gloucester City 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. Gloucester City 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 Gloucester City Affordable?

Wondering if Gloucester City 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 Gloucester City, for example, the median home price is 29.3% lower than what folks pay nationally, and monthly rent is 16.6% higher than the usual rates. Plus, income levels matter too, with Gloucester City boasting a median household income of $59,984, which is 8.4% higher than the national average.

What Factors can Influence the Cost of Living in Gloucester City?

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Gloucester City, the groceries index is 2% higher than the national average.

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Gloucester City, the utilities index stands at 10.4% higher than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The cost of living data in Gloucester City 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 Gloucester City is 19% lower than the New Jersey average
  • The cost of living in Gloucester City is 2% lower than the national average
  • Gloucester City housing is 16% 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 Gloucester City

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Compare Gloucester City, 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$73,011$6,084$1,703$2,191
      Renters$38,825$3,235$906$1,165
      The affordability of the housing market in Gloucester City, NJ as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Gloucester City homeowners, the median income is $73,011. This indicates that a monthly maximum of $1,703 should be spent by homeowners on all housing related costs. Renters have a median income of $38,825. This indicates that renters would have a maximum of $906 for their rent related monthly 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 Gloucester City 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 Gloucester City 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 Gloucester City 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 Gloucester City National avg. Difference
      Home Price $130,600.00$184,700.0029.3%
      Avg. Mortgage Payment $2,169.88$2,346.697.5%
      Apartment Rent $1,107.00$949.0016.6%

      Transportation

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

      Utilities

      Item Gloucester City 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%
      Arcadia University, PA5951043.8%
      Prospect Park CDP, PA2248217.9%
      Audubon Park, NJ9698712.8%
      Gloucester City, NJ11,229982.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Webster, TX11,2291033.4%
      Mack, OH11,2281098.6%
      Forestville, MD11,22412221.5%
      Moncton, NB11,235n/a 
      Greensburg, IN11,2218910.6%
      Gloucester City, NJ11,229982.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.