F
20%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
49%
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 New Brunswick New Jersey National
Cost of living120121100
Goods & Services111106100
Groceries103102100
Health care10299100
Housing149158100
Transportation105103100
Utilities108107100

An Overview of Cost of Living in New Brunswick, NJ

Are you thinking about relocating, but curious about the potential cost of living in New Brunswick? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in New Brunswick stands at 120, making it 20% higher 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 New Brunswick is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, New Brunswick falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs significantly influence the New Brunswick cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 49.4%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in New Brunswick, these items will cost you 11.3% more than what's considered the norm, making it a more expensive place to call home.

What Do Locals Say About the Cost of Living in New Brunswick?

Nobody knows their city better than the people who actually live there. So, we asked 10 local residents how they would rate the cost of living in New Brunswick and this is how they responded. 40% of people said that the cost of living was affordable, with prices decreasing, while 60% of people said that the cost of living was very expensive and prices continue to rise.

Is New Brunswick Affordable?

Wondering if New Brunswick 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 New Brunswick, for example, the median home price is 44.7% higher than what folks pay nationally, and monthly rent is 60.6% higher than the usual rates. Plus, income levels matter too, with New Brunswick boasting a median household income of $43,930, which is 20.6% lower than the national average.

What Factors can Influence the Cost of Living in New Brunswick?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In New Brunswick, the transportation index is 5.1% higher than the national average.

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 New Brunswick, the housing index comes in at 49.4% higher than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Where is the Data From?

The cost of living in New Brunswick, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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

Cost Of Living Quick Facts

  • The cost of living in New Brunswick is equal to the New Jersey average
  • The cost of living in New Brunswick is 20% higher than the national average
  • New Brunswick housing is 49% 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 New Brunswick

See all the best places to live around New Brunswick

Compare New Brunswick, NJ Cost of Living

      vs
      How would you rate the cost of living in New Brunswick?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in New Brunswick?
      Write a review to give others more information about this area.
      See all New Brunswick 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$87,063$7,255$2,031$2,612
      Renters$35,217$2,935$822$1,057
      To approximate the cost of living and the housing affordability in New Brunswick, 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 New Brunswick have a median income of $87,063. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,031 per month to avoid calamity and poverty. The renters in the city have an income of about $35,217, which would make their monthly maximum allowable rental costs $822.

      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 New Brunswick 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 New Brunswick 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 New Brunswick 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 New Brunswick National avg. Difference
      Home Price $267,200.00$184,700.0044.7%
      Avg. Mortgage Payment $2,956.12$2,346.6926.0%
      Apartment Rent $1,524.00$949.0060.6%

      Transportation

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

      Utilities

      Item New Brunswick 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.
      Zarephath, NJ941087.8%
      Rossmoor, NJ2,7001022.1%
      Clearbrook Park, NJ3,1141098.8%
      Concordia, NJ2,52011211.8%
      Roselle, NJ21,69911212.0%
      New Brunswick, NJ55,99212020.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Pocatello, ID56,016919.5%
      Tinley Park, IL56,0821109.7%
      Commerce City, CO55,89112423.6%
      Diamond Bar, CA55,87017675.8%
      Fountain Valley, CA56,11818685.7%
      New Brunswick, NJ55,99212020.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.