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New Jersey cost of living & income (2026)

Quick answer: New Jersey has a cost-of-living index of 118.8 (100 = national baseline), an illustrative estimated annual cost of living of about $59,400, median household income of $104,294, combined average sales tax about 6.60%, and regular gas about $3.990/gal in the June 2026 AAA snapshot used on the hub.

COL index118.8100 = US baseline
Est. annual COL$59,400
Median HH income$104,294
Sales tax (comb.)6.60%
Gas (87 octane)$3.990/galJune 2026 AAA
Largest cityNewark (304,960)

Taxes & economy

Income tax: Graduated up to ~10.75%

Sales tax: 6.625% state (combined avg. ~6.60%)

Major industries: Pharma/biotech, finance, logistics/ports, tourism, technology

Climate snapshot

Summer high ~85°F (July) · Winter low ~24°F (January)

Culture (context)

Ellis Island/Statue of Liberty area / Liberty Science Center

Open the interactive 50-state map & table — sort, filter, and use the dual ranker on the full explorer.

What this means for you

What this means for you: a basket priced at 100 on the national baseline is indexed at 118.8 in New Jersey. A salary that buys that basket at the baseline would need about 118.8% of that salary to buy the same basket here. That is index math from this snapshot, not a tax-equalized offer and not your rent.

Compare a salary: New Jersey vs Texas on the explorer.

How to read this page

  1. Read the quick answer for New Jersey's cost-of-living index, estimated annual cost, median income, sales tax, and gas price.
  2. Open the 50-state explorer and compare New Jersey with another state. The salary line multiplies pay by the other index divided by this index.
  3. Use the mortgage, rent, and paycheck calculators with your own numbers. This page does not compute a tax return.

Related calculators: mortgage · rent · paycheck.

Related states

Similar cost-of-living index in this dataset:

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FAQ

What is New Jersey's cost of living index?

New Jersey's cost-of-living index is 118.8 (national baseline 100) in this 2026 classroom snapshot.

What is the estimated annual cost of living in New Jersey?

The explorer lists an illustrative estimated annual cost of living of about $59,400 for New Jersey.

What is median household income in New Jersey?

Median household income in New Jersey is $104,294 in this dataset.

What is the combined average sales tax rate in New Jersey?

The combined average sales tax rate shown for New Jersey is 6.60%. State and local rules vary; see the Tax Foundation citation on the hub.

Does New Jersey have a state income tax?

State income tax in New Jersey: Graduated up to ~10.75%.

What was regular gas in New Jersey in this snapshot?

87-octane gas is listed at $3.990 per gallon (AAA, June 2026) in the explorer data.

How should a household read New Jersey's cost-of-living index?

The index is 118.8 against a US baseline of 100. A salary that buys a basket at the baseline would need about 118.8% of that salary to buy the same basket in New Jersey in this snapshot. It is not a tax bill, a rent quote, or financial advice.

Sources: Tax Foundation (sales tax), BEA / ACS (income & COL), AAA gas (June 20, 2026). Educational, not financial, tax, or relocation advice.