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State cost profile · 2024 BEA RPP

Cost of Living in New Jersey

Statewide Regional Price Parities for New Jersey from the Bureau of Economic Analysis — overall, goods, services, and rents vs the U.S. average of 100, across 3 metro areas.

108.8
Statewide RPP
#4
of 51 states by cost
134.3
Rents RPP
3
Metro areas

The verdict

New Jersey is more expensive than 92% of U.S. states — a statewide cost index of 108.8, 8.8% above the national average.

108.8
statewide cost index (US average = 100)
#4
of 51 states by overall cost
top 8%
nationally, among all states
134.3
rents RPP — the biggest budget swing

A $100,000 national salary carries the purchasing power of about $91,908 when earned in New Jersey.

Reading the New Jersey Cost of Living Picture

The Bureau of Economic Analysis places New Jersey's statewide Regional Price Parity at 108.8 for the 2024 data year, 8.8% more expensive the U.S. baseline of 100. Inside the headline figure, the state's rents line runs hottest at 134.3. That internal spread — rather than the single state number — is what determines whether a household actually feels priced in or priced out.

New Jersey captures 3 metro areas in the BEA dataset, and the range across them is meaningful. Trenton-Princeton, NJ leads on cost at 103.2, while Vineland, NJ sits at the opposite end at 96.0 — a gap of 7.2 index points inside a single state. For goods the state indexes at 107.1, for services 114.2, and for rents 134.3 — the rent figure tends to be the most volatile input and deserves its own line-item review before any relocation decision.

Over time, New Jersey's statewide index has held steady within 1.2 points, suggesting a stable competitive position against other states. Practically, this means a $100,000 national salary delivers the purchasing power of about $91,908 of national buying power when earned inside New Jersey, and a household relocating here would need roughly $108,805 to reproduce a $100K lifestyle. Pair these numbers with metro-specific wage data and rent tables before treating the statewide figure as your planning assumption.

108.8
Overall
107.1
Goods
114.2
Services
134.3
Rents

New Jersey vs every U.S. state

Where this state sits in the national cost distribution

109 Top 8% higher than 92% of 51 US states

84–87: 2 US states (4%). Below this entry. 87–90: 7 US states (14%). Below this entry. 90–93: 8 US states (16%). Below this entry. 93–96: 6 US states (12%). Below this entry. 96–99: 8 US states (16%). Below this entry. 99–102: 5 US states (10%). Below this entry. 102–105: 8 US states (16%). Below this entry. 105–108: 3 US states (6%). Below this entry. 108–111: 4 US states (8%). This entry sits in this band. 111–114: 0 US states (0%). Above this entry. 114–117: 0 US states (0%). Above this entry. This state 84 117 every US state (incl. DC), bucketed by value

Each bar is a band; taller bars hold more US states. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source U.S. Bureau of Economic Analysis — Regional Price Parities · 2024

Most Expensive in New Jersey → Cheapest in New Jersey →

Metro areas in New Jersey, ranked by cost

# Metro area OverallGoodsServicesRents
1 Trenton-Princeton 103.2 99.8 112.3 135.1
2 Atlantic City-Hammonton 98.9 99.8 109.2 98.7
3 Vineland 96.0 99.8 108.2 83.9

The Rents RPP index measures housing costs relative to the national average (100). For the federal 40th-percentile Fair Market Rent by bedroom size and county, see the HUD Fair Market Rents dataset.

RPP History

Year Overall
2008 107.6
2009 111.0
2010 108.8
2011 109.2
2012 109.3
2013 108.8
2014 109.0
2015 109.0
2016 109.1
2017 109.3
2018 111.0
2019 111.2
2020 110.7
2021 109.2
2022 108.8
2023 108.9
2024 108.8

Cost of Living Guides

Cheapest Metros to Live in 2026
Official BEA data on the most affordable areas
Most Expensive Cities: 2026 Rankings
What drives high costs and how to cope
Cost of Living vs Wages
Where your dollar goes furthest
Understanding Regional Price Parities
How BEA constructs RPP data

View all guides →

Frequently Asked Questions

What is the cost of living in New Jersey? ▼
New Jersey has a Regional Price Parity (RPP) index of 108.8, meaning it is 8.8% more expensive than the national average. Goods are indexed at 107.1, services at 114.2, and rents at 134.3.
What salary in New Jersey equals $100K nationally? ▼
To maintain the same purchasing power as a $100,000 salary at the national average, you would need approximately $108,805 in New Jersey. Conversely, $100K earned in New Jersey has the purchasing power of $91,908 at the national average.
Is housing expensive in New Jersey? ▼
Rents in New Jersey are indexed at 134.3, which is 34.3% above the national average. Housing costs are significantly higher than typical U.S. levels.
Which is the most expensive metro in New Jersey? ▼
The most expensive metro area in New Jersey is Trenton-Princeton, NJ with an RPP of 103.2. The most affordable is Vineland, NJ at 96.0. There are 3 metro areas in New Jersey with BEA price data.
Is New Jersey getting more expensive? ▼
From 2008 to 2024, New Jersey's overall cost index changed by +1.2 points (from 107.6 to 108.8). The cost of living has remained relatively stable.
What is most expensive in New Jersey compared to the U.S. average? ▼
The most expensive category in New Jersey is rents at 134.3, which is 34.3% above the national average. All other categories are at or above the national average.

Source: Bureau of Economic Analysis, Regional Price Parities Bureau of Economic Analysis, Regional Price Parities Index where national average = 100

Read our methodology — how this data is sourced, computed, and verified.