How much money do you need to live comfortably in NJ?

by Muhammad Umer Manzoor|19 Apr 2021|Family|Eldercare|79 views
The group, for instance, estimates a family of two adults and two children in Morris County would need to earn a combined $104,121 per year — or $8,677 a month — to live comfortably. Here's how the group breaks down that number: Housing: $1,560 per month. Food: $870 per month.

Herein, is it expensive to live in New Jersey?

Housing Costs in New Jersey
New Jersey is a notoriously expensive state to live in. As a result, New Jersey rents are well above average. Studio apartments in New Jersey have a median of $1,084 per month, according to 2019 data from Apartment List. That's $257 above the national average.

Also, what is a livable wage in New Jersey?

A living wage for a person with one child to support is $24.79 in New Jersey. For two working adults with one child, it's $13.49. Not even a single adult worker who is only supporting themselves can afford to make $10.70 as a retail salesperson in New Jersey, where the living single, no kids wage is $12.51.

What is the cheapest place to live in New Jersey?

The 10 Cheapest Places To Live In New Jersey For 2020
  • Stratford.
  • Audubon.
  • Somerdale.
  • Barrington.
  • Pitman.
  • Berlin.
  • Runnemede.
  • Haddon Heights.

What is middle class income in NJ?

The overall average in New Jersey for what is considered to be middle class income for a family of four is between $60,000 and $177,000 a year. According to Rutgers University economist James Hughes, “middle class” can mean many things these days.

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