F
23%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
60%
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 South River New Jersey National
Cost of living123121100
Goods & Services111106100
Groceries103102100
Health care10299100
Housing160158100
Transportation105103100
Utilities108107100

An Overview of Cost of Living in South River, NJ

Are you thinking about relocating, but curious about the potential cost of living in South River? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in South River stands at 123, making it 23% 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.

If you're in pursuit of an economical living environment, South River may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, South River falls within this bracket.

When it comes to the cost of living in South River, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 59.8% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In South River, you can expect to pay 11.3% more than average for these items, making it a more expensive place to live.

Is South River Affordable?

Is South River an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in South River, the median home price is 68.9% higher than what most folks pay across the country, and monthly rent prices are 38.7% higher than the usual rates. Income levels in South River come in at $77,382, which is 39.9% higher than the national average.

What Factors can Influence the Cost of Living in South River?

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.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In South River, the groceries index is 2.5% higher than the national average.

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 South River, the transportation index is 5.1% higher than the national average.

Where is the Data From?

The cost of living data in South River 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 South River is 2% higher than the New Jersey average
  • The cost of living in South River is 23% higher than the national average
  • South River housing is 60% 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 South River

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Compare South River, 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$97,760$8,147$2,281$2,933
      Renters$48,429$4,036$1,130$1,453
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in South River, NJ, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In South River, homeowners have a median income of $97,760. Using that number, a maximum of $2,281 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $48,429, which means there is a maximum of $1,130 to be spent on the costs of renting a home or apartment.

      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 South River 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 South River 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 South River 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 South River National avg. Difference
      Home Price $312,000.00$184,700.0068.9%
      Avg. Mortgage Payment $2,956.12$2,346.6926.0%
      Apartment Rent $1,316.00$949.0038.7%

      Transportation

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

      Utilities

      Item South River 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%
      Keansburg, NJ9,69711010.4%
      Concordia, NJ2,52011211.8%
      South River, NJ15,87412323.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      River Falls, WI15,8701011.4%
      Horsham, PA15,86411817.8%
      Bellmore, NY15,88716160.8%
      Discovery Bay, CA15,90417877.6%
      Aberdeen, MD15,9041054.7%
      South River, NJ15,87412323.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.