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New Jersey is known for having a high cost of living compared to other states in the US. The median household income in New Jersey is among the highest in the nation, however, due to its higher taxes and prices, it can be difficult for many to achieve financial stability. Housing costs are considerably high, with the median home costing around $310,000; transportation costs are also high due to long commutes and limited public transit options. Groceries are slightly more expensive than average, as well as health care and childcare costs. Despite its relatively high cost of living, New Jersey offers some of the best education and employment opportunities that come along with living in an urban area.Our cost of living indices are based on a US average of 100. An amount below 100 means New Jersey is cheaper than the US average. A cost of living index above 100 means New Jersey, New Jersey is more expensive.
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