F
28%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
85%
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 Greentree New Jersey National
Cost of living128121100
Goods & Services103106100
Groceries102102100
Health care9499100
Housing185158100
Transportation107103100
Utilities110107100

An Overview of Cost of Living in Greentree, NJ

Understanding the cost of living in Greentree 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 Greentree cost of living index is 128, which is 28% 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 you're in pursuit of an economical living environment, Greentree 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, Greentree falls within this bracket.

Housing costs significantly influence the Greentree cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 85.4%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Greentree Affordable?

Is Greentree 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 Greentree, the median home price is 79.4% higher than what most folks pay across the country, and monthly rent prices are 99.3% higher than the usual rates. Income levels in Greentree come in at $130,063, which is 135.1% higher than the national average.

What Factors can Influence the Cost of Living in Greentree?

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.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Greentree, the transportation index is 6.7% 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 Greentree, the housing index is 85.4% higher than the national average.

Where is the Data From?

The Greentree 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Greentree is 6% higher than the New Jersey average
  • The cost of living in Greentree is 28% higher than the national average
  • Greentree housing is 85% 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 Greentree

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Compare Greentree, 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$149,819$12,485$3,496$4,495
      Renters$55,323$4,610$1,291$1,660
      The affordability of the housing market in Greentree, NJ as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Greentree homeowners, the median income is $149,819. This indicates that a monthly maximum of $3,496 should be spent by homeowners on all housing related costs. Renters have a median income of $55,323. This indicates that renters would have a maximum of $1,291 for their rent related monthly 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 Greentree National avg. Difference
      Haircut $23.54$24.263.0%
      Beauty Salon $66.27$45.5645.4%
      Toothpaste $3.65$3.701.5%
      Shampoo $1.52$1.2818.4%
      Movie $13.75$12.1313.3%
      Bowling $19.47$18.008.1%

      Groceries

      Item Greentree National avg. Difference
      Ground Beef $5.76$5.841.3%
      Fried Chicken $1.46$1.577.4%
      Milk $4.67$4.670.0%
      Potatoes $5.37$4.938.8%
      Pizza $11.73$12.092.9%
      Beer $11.99$10.4115.2%

      Health Care

      Item Greentree National avg. Difference
      Optometrist $123.50$125.681.7%
      Doctor $132.56$135.782.4%
      Dentist $103.31$113.298.8%
      Ibuprofen $11.22$10.655.3%
      Lipitor $398.10$468.6015.0%

      Housing

      Item Greentree National avg. Difference
      Home Price $331,400.00$184,700.0079.4%
      Avg. Mortgage Payment $2,169.88$2,346.697.5%
      Apartment Rent $1,891.00$949.0099.3%

      Transportation

      Item Greentree National avg. Difference
      Gasoline $3.53$3.462.0%
      Tire Balancing $70.89$59.9218.3%

      Utilities

      Item Greentree National avg. Difference
      All Electricity $222.45$193.9914.7%
      Phone $198.27$192.253.1%
      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.
      Tavistock, NJ51043.8%
      Arcadia University, PA5951043.8%
      Pine Valley, NJ111043.8%
      Audubon Park, NJ9698712.8%
      Camden, NJ73,742919.1%
      Greentree, NJ10,59712828.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      South Yarmouth, MA10,59813030.2%
      Cordele, GA10,6008118.6%
      Sweetwater, TX10,6018118.7%
      Morro Bay, CA10,59217069.5%
      Blackhawk, CA10,590271171.5%
      Greentree, NJ10,59712828.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.