F
19%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
44%
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 Mercerville New Jersey National
Cost of living119121100
Goods & Services111106100
Groceries103102100
Health care10299100
Housing144158100
Transportation105103100
Utilities108107100

An Overview of Cost of Living in Mercerville, NJ

Knowing the cost of living in Mercerville allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Mercerville stands at 119, marking it 19% higher than the national average.

Housing costs are a major factor in the Mercerville 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 43.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Mercerville goods and services are 11.3% more expensive than the national average, leaving you with less money at the end of the month.

Is Mercerville Affordable?

Is Mercerville 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 Mercerville, for instance, where the median home price falls 40.9% higher than the national average, and monthly rent rates are 49.9% higher than usual. Additionally, median income levels contribute to the equation, with Mercerville flaunting a median household income of $97,969, 77.1% higher than the national norm.

What Factors can Influence the Cost of Living in Mercerville?

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 Mercerville, the general sales tax rate starts at 6.625%, and income tax rates begin at 1.4%.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Mercerville, the transportation index is 5.1% higher than the national average.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Mercerville, the utilities index registers 8.3% higher than the national average.

Where is the Data From?

The Mercerville 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.

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Cost Of Living Quick Facts

  • The cost of living in Mercerville is 2% lower than the New Jersey average
  • The cost of living in Mercerville is 19% higher than the national average
  • Mercerville housing is 44% 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 Mercerville

See all the best places to live around Mercerville

Compare Mercerville, 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$104,036$8,670$2,427$3,121
      Renters$66,283$5,524$1,547$1,989
      To approximate the cost of living and the housing affordability in Mercerville, 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 Mercerville have a median income of $104,036. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,427 per month to avoid calamity and poverty. The renters in the city have an income of about $66,283, which would make their monthly maximum allowable rental costs $1,547.

      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 Mercerville National avg. Difference
      Haircut $30.25$24.2624.7%
      Beauty Salon $53.00$45.5616.3%
      Toothpaste $3.75$3.701.3%
      Shampoo $1.53$1.2819.8%
      Movie $14.53$12.1319.7%
      Bowling $20.98$18.0016.6%

      Groceries

      Item Mercerville National avg. Difference
      Ground Beef $6.13$5.845.0%
      Fried Chicken $1.41$1.5710.4%
      Milk $4.70$4.670.5%
      Potatoes $5.32$4.937.8%
      Pizza $12.59$12.094.2%
      Beer $11.12$10.416.8%

      Health Care

      Item Mercerville National avg. Difference
      Optometrist $129.93$125.683.4%
      Doctor $124.10$135.788.6%
      Dentist $129.94$113.2914.7%
      Ibuprofen $11.14$10.654.6%
      Lipitor $440.70$468.606.0%

      Housing

      Item Mercerville National avg. Difference
      Home Price $260,300.00$184,700.0040.9%
      Avg. Mortgage Payment $2,956.12$2,346.6926.0%
      Apartment Rent $1,423.00$949.0049.9%

      Transportation

      Item Mercerville National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $72.38$59.9220.8%

      Utilities

      Item Mercerville National avg. Difference
      All Electricity $223.08$193.9915.0%
      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.
      Newtown CDP, PA2508811.7%
      Trenton, NJ83,387973.2%
      Morrisville CDP, PA862945.8%
      Wrightstown, NJ546982.5%
      Beverly, NJ2,425991.0%
      Mercerville, NJ12,78311918.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Verde Village, AZ12,7801088.2%
      Riviera Beach, MD12,78012019.6%
      McComb, MS12,7888317.4%
      Miller Place, NY12,77514039.7%
      Lindsay, CA12,7931099.1%
      Mercerville, NJ12,78311918.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.