Cost Of Living in Somerdale, NJ

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	Somerdale	New Jersey	National
Cost of living	101	121	100
Goods & Services	103	106	100
Groceries	102	102	100
Health care	94	99	100
Housing	96	158	100
Transportation	107	103	100
Utilities	110	107	100

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Cost Of Living Quick Facts

The cost of living in Somerdale is 16% lower than the New Jersey average
The cost of living in Somerdale is 1% higher than the national average
Somerdale housing is 4% 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

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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	$79,476	$6,623	$1,854	$2,385
Renters	$35,944	$2,995	$839	$1,078

To approximate the cost of living and the housing affordability in Somerdale, 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 Somerdale have a median income of $79,476. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,854 per month to avoid calamity and poverty. The renters in the city have an income of about $35,944, which would make their monthly maximum allowable rental costs $839.

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	Somerdale	National avg.	Difference
Haircut	$23.54	$24.26	3.0%
Beauty Salon	$66.27	$45.56	45.4%
Toothpaste	$3.65	$3.70	1.5%
Shampoo	$1.52	$1.28	18.4%
Movie	$13.75	$12.13	13.3%
Bowling	$19.47	$18.00	8.1%

Groceries

Item	Somerdale	National avg.	Difference
Ground Beef	$5.76	$5.84	1.3%
Fried Chicken	$1.46	$1.57	7.4%
Milk	$4.67	$4.67	0.0%
Potatoes	$5.37	$4.93	8.8%
Pizza	$11.73	$12.09	2.9%
Beer	$11.99	$10.41	15.2%

Health Care

Item	Somerdale	National avg.	Difference
Optometrist	$123.50	$125.68	1.7%
Doctor	$132.56	$135.78	2.4%
Dentist	$103.31	$113.29	8.8%
Ibuprofen	$11.22	$10.65	5.3%
Lipitor	$398.10	$468.60	15.0%

Housing

Item	Somerdale	National avg.	Difference
Home Price	$178,000.00	$184,700.00	3.6%
Avg. Mortgage Payment	$2,169.88	$2,346.69	7.5%
Apartment Rent	$895.00	$949.00	5.7%

Transportation

Item	Somerdale	National avg.	Difference
Gasoline	$3.53	$3.46	2.0%
Tire Balancing	$70.89	$59.92	18.3%

Utilities

Item	Somerdale	National avg.	Difference
All Electricity	$222.45	$193.99	14.7%
Phone	$198.27	$192.25	3.1%

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.
Pine Valley, NJ	11	104	3.8%
Tavistock, NJ	5	104	3.8%
Audubon Park, NJ	969	87	12.8%
Camden, NJ	73,742	91	9.1%
Colwyn, PA	2,541	91	8.7%
Somerdale, NJ	5,479	101	1.4%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
New Holland, PA	5,479	104	4.2%
Charleston, MO	5,478	78	21.8%
Orchard Homes, MT	5,480	112	11.9%
Preston, ID	5,477	98	2.3%
Cameron, TX	5,476	81	19.2%
Somerdale, NJ	5,479	101	1.4%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Somerdale, NJ