Cost Of Living in Rockaway, NJ

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	Rockaway	New Jersey	National
Cost of living	124	121	100
Goods & Services	100	106	100
Groceries	102	102	100
Health care	99	99	100
Housing	178	158	100
Transportation	95	103	100
Utilities	102	107	100

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Cost Of Living Quick Facts

The cost of living in Rockaway is 2% higher than the New Jersey average
The cost of living in Rockaway is 24% higher than the national average
Rockaway housing is 78% 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

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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	$108,015	$9,001	$2,520	$3,241
Renters	$53,938	$4,495	$1,258	$1,618

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Rockaway, 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 Rockaway homeowners, is $108,015. This would allow for a maximum of $2,520 per month to be spent on housing costs. For renters, the median monthly income is $53,938 which would result in a maximum of $1,258 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	Rockaway	National avg.	Difference
Haircut	$29.17	$24.26	20.2%
Beauty Salon	$40.36	$45.56	11.4%
Toothpaste	$3.66	$3.70	1.2%
Shampoo	$1.44	$1.28	12.1%
Movie	$14.15	$12.13	16.6%
Bowling	$25.03	$18.00	39.0%

Groceries

Item	Rockaway	National avg.	Difference
Ground Beef	$5.64	$5.84	3.5%
Fried Chicken	$1.55	$1.57	1.4%
Milk	$4.74	$4.67	1.5%
Potatoes	$5.21	$4.93	5.7%
Pizza	$11.49	$12.09	4.9%
Beer	$11.66	$10.41	12.0%

Health Care

Item	Rockaway	National avg.	Difference
Optometrist	$105.11	$125.68	16.4%
Doctor	$117.94	$135.78	13.1%
Dentist	$121.22	$113.29	7.0%
Ibuprofen	$11.05	$10.65	3.7%
Lipitor	$427.79	$468.60	8.7%

Housing

Item	Rockaway	National avg.	Difference
Home Price	$347,900.00	$184,700.00	88.4%
Avg. Mortgage Payment	$3,303.56	$2,346.69	40.8%
Apartment Rent	$1,468.00	$949.00	54.7%

Transportation

Item	Rockaway	National avg.	Difference
Gasoline	$3.45	$3.46	0.2%
Tire Balancing	$77.33	$59.92	29.1%

Utilities

Item	Rockaway	National avg.	Difference
All Electricity	$230.68	$193.99	18.9%
Phone	$186.61	$192.25	2.9%

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.
Victory Gardens, NJ	1,604	101	1.2%
Franklin, NJ	4,737	102	1.9%
Newton, NJ	7,935	106	6.2%
Ogdensburg, NJ	2,164	111	11.0%
Hopatcong, NJ	14,228	112	11.7%
Rockaway, NJ	6,345	124	23.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Village of Oak Creek (Big Park), AZ	6,348	140	39.6%
Skowhegan, ME	6,341	95	5.2%
Carrollton, VA	6,340	121	21.1%
Wilmore, KY	6,339	96	3.9%
Swarthmore, PA	6,339	133	33.4%
Rockaway, NJ	6,345	124	23.5%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Rockaway, NJ