C+
1%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
15%
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 Phillipsburg New Jersey National
Cost of living99121100
Goods & Services108106100
Groceries98102100
Health care9699100
Housing85158100
Transportation103103100
Utilities106107100

An Overview of Cost of Living in Phillipsburg, NJ

Knowing the cost of living in Phillipsburg allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Phillipsburg stands at 99, marking it 1% lower than the national average.

The cost of living in Phillipsburg aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Phillipsburg residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Phillipsburg Affordable?

Is Phillipsburg 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 Phillipsburg, for instance, where the median home price falls 21.9% lower than the national average, and monthly rent rates are 2.3% higher than usual. Additionally, median income levels contribute to the equation, with Phillipsburg flaunting a median household income of $54,583, 1.3% lower than the national norm.

What Factors can Influence the Cost of Living in Phillipsburg?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Phillipsburg, the transportation index is 3.3% higher than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Phillipsburg, healthcare costs are 4.2% lower than the national average.

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.

Where is the Data From?

The Phillipsburg cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Phillipsburg is 18% lower than the New Jersey average
  • The cost of living in Phillipsburg is 1% lower than the national average
  • Phillipsburg housing is 15% lower 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 Phillipsburg

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Compare Phillipsburg, 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$64,293$5,358$1,500$1,929
      Renters$34,138$2,845$797$1,024
      A good indicator of the general affordability of housing in Phillipsburg, NJ, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Phillipsburg, the median monthly income is $64,293 for those who own their own homes. Under the standard rule, that income level would allow for $1,500 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $34,138, per the median income in the area. That would allow for renters to spend up to $797 on monthly rental expenses.

      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 Phillipsburg National avg. Difference
      Haircut $23.20$24.264.4%
      Beauty Salon $52.92$45.5616.1%
      Toothpaste $3.83$3.703.4%
      Shampoo $1.42$1.2811.1%
      Movie $12.43$12.132.4%
      Bowling $19.33$18.007.4%

      Groceries

      Item Phillipsburg National avg. Difference
      Ground Beef $5.76$5.841.4%
      Fried Chicken $1.42$1.579.9%
      Milk $4.54$4.672.8%
      Potatoes $5.37$4.938.8%
      Pizza $11.57$12.094.3%
      Beer $11.46$10.4110.1%

      Health Care

      Item Phillipsburg National avg. Difference
      Optometrist $125.11$125.680.5%
      Doctor $86.42$135.7836.4%
      Dentist $137.77$113.2921.6%
      Ibuprofen $10.74$10.650.8%
      Lipitor $447.50$468.604.5%

      Housing

      Item Phillipsburg National avg. Difference
      Home Price $144,200.00$184,700.0021.9%
      Avg. Mortgage Payment $2,325.61$2,346.690.9%
      Apartment Rent $971.00$949.002.3%

      Transportation

      Item Phillipsburg National avg. Difference
      Gasoline $3.51$3.461.6%
      Tire Balancing $64.44$59.927.5%

      Utilities

      Item Phillipsburg National avg. Difference
      All Electricity $210.10$193.998.3%
      Phone $195.81$192.251.9%
      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.
      Port Murray, NJ2161000.1%
      DeSales University, PA9291044.3%
      Port Colden, NJ821000.1%
      Broadway, NJ1831044.3%
      Great Meadows, NJ2641000.1%
      Phillipsburg, NJ14,303991.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Port Orchard, WA14,30313434.1%
      West Lealman, FL14,304919.4%
      Fate, TX14,30012929.2%
      Lake Stickney, WA14,30614343.1%
      Mountain Home, ID14,308982.4%
      Phillipsburg, NJ14,303991.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.