F
35%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
97%
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 Tinton Falls New Jersey National
Cost of living135121100
Goods & Services111106100
Groceries103102100
Health care10299100
Housing197158100
Transportation105103100
Utilities108107100

An Overview of Cost of Living in Tinton Falls, NJ

Understanding the cost of living in Tinton Falls can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Tinton Falls cost of living index is 135, which is 35% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Tinton Falls is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Tinton Falls falls into this category, which may not align with your goal of finding a budget-friendly living environment.

When it comes to the cost of living in Tinton Falls, 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 97.3% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Tinton Falls, these items will cost you 11.3% more than what most folks pay, making it a bit more expensive to live here.

Is Tinton Falls Affordable?

Is Tinton Falls 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 Tinton Falls, for instance, where the median home price falls 91.1% higher than the national average, and monthly rent rates are 111.8% higher than usual. Additionally, median income levels contribute to the equation, with Tinton Falls flaunting a median household income of $95,927, 73.4% higher than the national norm.

What Factors can Influence the Cost of Living in Tinton Falls?

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Tinton Falls, the standard sales tax rate starts at 6.625%, and the income tax rates commence at 1.4%.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Tinton Falls, healthcare costs are 1.9% higher than the national average.

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 Tinton Falls, the housing index is 97.3% higher than the national average.

Where is the Data From?

The cost of living in Tinton Falls, 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.

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Cost Of Living Quick Facts

  • The cost of living in Tinton Falls is 11% higher than the New Jersey average
  • The cost of living in Tinton Falls is 35% higher than the national average
  • Tinton Falls housing is 97% 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 Tinton Falls

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Compare Tinton Falls, 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$109,861$9,155$2,563$3,296
      Renters$70,426$5,869$1,643$2,113
      To approximate the cost of living and the housing affordability in Tinton Falls, 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 Tinton Falls have a median income of $109,861. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,563 per month to avoid calamity and poverty. The renters in the city have an income of about $70,426, which would make their monthly maximum allowable rental costs $1,643.

      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 Tinton Falls 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 Tinton Falls 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 Tinton Falls 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 Tinton Falls National avg. Difference
      Home Price $353,000.00$184,700.0091.1%
      Avg. Mortgage Payment $2,956.12$2,346.6926.0%
      Apartment Rent $2,010.00$949.00111.8%

      Transportation

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

      Utilities

      Item Tinton Falls 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.
      Keansburg, NJ9,69711010.4%
      Cliffwood Beach, NJ3,02411717.0%
      North Middletown, NJ2,65212625.7%
      Keyport, NJ7,00511818.4%
      Laurence Harbor, NJ6,04111918.9%
      Tinton Falls, NJ17,58413534.7%

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      City Population Cost of Living Index National Avg.
      Kingstowne, VA17,58515252.1%
      Sunland Park, NM17,5818613.6%
      Cinco Ranch, TX17,58812726.8%
      Tillsonburg, ON17,594n/a 
      Dumont, NJ17,59814039.6%
      Tinton Falls, NJ17,58413534.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.