Core cost of living data is from The Cost of Living Index - COLI from the Council for Community and Economic Research. Price collection by city is conducted in strict conformance with standard specifications at specified times. Show
Demographics data (including population, age, ethnicity, education and gender breakdown) were compiled from the U.S. Census. Quality of life data (gyms, bars and beauty salons per 1,000 residents) were collected from the Yellow Pages. Walkability and public transit scores were obtained from Walk Score. Monthly bus pass costs were obtained from the individual websites of the public transit system for each city. For example, the cost of an unlimited MetroCard in New York was obtained from the MTA website. Education data was provided courtesy of Greatschools, a nationwide ratings system that evaluates schools based on performance on state achievement tests. Private school data was obtained from the Department of Education, and average private tuition was compiled by averaging tuition across randomly selected schools in each city. NerdWallet excluded state and local tax data because tax rates vary by state and metropolitan area, and sometimes within metropolitan area as well. Due to the plethora of state taxes, local taxes, jurisdictions and assessment procedures involved in the assessment of income, property and sales taxes, local tax rates cannot be accurately calculated. How is this tool different from other resources out there?While other resources provide basic cost comparisons, NerdWallet’s cost of living calculator and accompanying city life tool go one step further by offering information on schools, quality of life and demographics, giving users a one-stop shop to explore new cities. What is ‘cost of living’?One of most important determinations you need to make before moving to a new city or town is how much it will cost to live there. “Cost of living” is the amount of money you need to sustain a certain lifestyle in a given place. Because the price of goods and services varies from one city to the next, calculating the cost of living will determine how affordable it is to live in a certain area. The expenses that factor into cost of living can include housing affordability, transportation expenses, food prices and entertainment costs. Cost of living is also tied to income, as salary levels in a geographic area are measured against these expenses. What is the breakdown of the cost of living?
What is a cost of living index?A cost of living index allows you to directly compare what it costs to live in one area against another, helping you understand how far your money can go in each place. For example, the cost of living in San Francisco is twice that of Boise, Idaho. Whether you use a cost of living index or a cost of living calculator, each will help you feel more confident in deciding where to live. NerdWallet’s cost of living calculator is powered by data from The Council for Community and Economic Research (C2ER). According to the council, “C2ER produces the Cost of Living Index to provide a useful and reasonably accurate measure of living cost differences among urban areas. Items on which the index is based have been carefully chosen to reflect the different categories of consumer expenditures.” C2ER was founded in 1961, and continues to exist today as a nonprofit organization, “comprising research staff of chambers of commerce, economic development organizations and agencies, and related organizations throughout the United States.” C2ER has published its quarterly Cost of Living Index since 1968. It is comprised of “nearly 100,000 data points gathered primarily by C2ER members located in 400 cities.” Is it cheaper to live in Pennsylvania or New Jersey?According to Salary.com, the cost of living in Jersey City is 58.8% higher than in Philadelphia.
Are taxes higher in NJ or PA?Pennsylvania`s highest rate is 3.07 percent, while New Jersey`s highest rate is 8.97 percent. You won`t pay taxes twice on the same money, even if you don`t live or work in any of the states that have reciprocal agreements.
Are taxes cheaper in NJ or PA?Overall, the average property-owning, income-earning resident is likely to pay higher taxes in New Jersey than in Pennsylvania. Some key metrics for each state include: State Income Tax Rate: PA: 3.07% (this is a flat rate)
Which state has lower taxes NJ or PA?State sales tax for Pennsylvania is at 6 percent, compared to 7 percent for New Jersey.
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