F
19%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
46%
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 Perth Amboy New Jersey National
Cost of living119121100
Goods & Services111106100
Groceries103102100
Health care10299100
Housing146158100
Transportation105103100
Utilities108107100

An Overview of Cost of Living in Perth Amboy, NJ

Knowing the cost of living in Perth Amboy 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 Perth Amboy stands at 119, marking it 19% higher than the national average.

Housing costs are a very significant part of the Perth Amboy 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 46.4% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

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 Perth Amboy, these items will cost you 11.3% more than what's considered the norm, making it a more expensive place to call home.

Is Perth Amboy Affordable?

Is Perth Amboy affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Perth Amboy, the median home price is 46.5% higher than the national average and monthly rent prices are 46.2% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Perth Amboy boasting a median household income of $54,188, 2% lower than the national average.

What Factors can Influence the Cost of Living in Perth Amboy?

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Perth Amboy, healthcare costs are 1.9% higher than the national average.

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.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Perth Amboy, the housing index is 46.4% higher than the national average.

Where is the Data From?

The Perth Amboy 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. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Perth Amboy is 1% lower than the New Jersey average
  • The cost of living in Perth Amboy is 19% higher than the national average
  • Perth Amboy housing is 46% 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 Perth Amboy

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Compare Perth Amboy, 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$82,426$6,869$1,923$2,473
      Renters$41,381$3,448$965$1,242
      To approximate the cost of living and the housing affordability in Perth Amboy, 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 Perth Amboy have a median income of $82,426. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,923 per month to avoid calamity and poverty. The renters in the city have an income of about $41,381, which would make their monthly maximum allowable rental costs $965.

      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 Perth Amboy 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 Perth Amboy 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 Perth Amboy 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 Perth Amboy National avg. Difference
      Home Price $270,500.00$184,700.0046.5%
      Avg. Mortgage Payment $2,956.12$2,346.6926.0%
      Apartment Rent $1,387.00$949.0046.2%

      Transportation

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

      Utilities

      Item Perth Amboy 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.
      Rossmoor, NJ2,7001022.1%
      Clearbrook Park, NJ3,1141098.8%
      Keansburg, NJ9,69711010.4%
      Concordia, NJ2,52011211.8%
      Roselle, NJ21,69911212.0%
      Perth Amboy, NJ51,58911919.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Burien, WA51,58814039.8%
      La Crosse, WI51,543964.2%
      Coeur d'Alene, ID51,49111514.6%
      Kentwood, MI51,780946.0%
      Levittown, NY51,26614646.5%
      Perth Amboy, NJ51,58911919.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.