Isiah Christie 
We love New Jersey for so many things. Between its unapologetic culture, rich history, and food (there’s none better), there are so many perks to living in the Garden State. However, the cost of living has been a persistent topic of controversy when it comes to NJ lifestyle, and a recent study ranking the state as the 4th-costliest for households in America only reinforces that issue. Read on to learn about New Jersey’s placement on the list of America’s highest household bills.
NJ Ranked 4th-Most Expensive
According to a report from the U. S. Household Bill Pay Market Size and Category Breakout from 2024, New Jersey is the fourth-most expensive state in America in recurring household bills. As of 2024, it sits at rates of $2,653 monthly and $31,836 annually, which is 24.8% above the United States’ monthly average. The report also presents NJ as the 2nd-costliest in mortgage spending, 5th-costliest in rent, 4th-costliest in utilities, and the most expensive in alarm + security spending.
The state is also one of the most expensive independently of housing, with some common factors including property taxes, car insurance, tolls, state income tax, and utility bills. Its effective property tax rate of 1.77 percent is the highest in the United States, and its average auto insurance bill of $3,414 a year is over two thousand dollars above the national average of $1,258 a year. Toll costs increase annually, and utility bills are demanding due to the state’s ever-increasing extreme weather conditions during the summer + winter.
The New Jersey Department of Community Affairs has recommended researching programs such as Low Income Home Energy Assistance (LIHEAP) and the Universal Service Fund to help aid in household costs.
Cost-of-Living Effect on Businesses
New Jersey’s expensive lifestyle has not only been a topic of discussion for households, but also for local businesses + company headquarters. The state has seen several corporations leave due to increasing costs, including Mars Wrigley (which recently left Newark), Samsung Electronics America (which recently left Englewood Cliffs), and the Anheuser-Busch brewery (also based in Newark). Commercial space rent increases have also disproportionately affected small businesses, which struggle to survive in a world of demanding costs and competition with online shopping platforms such as Amazon.
See More: New Jersey Just Banned AI-Driven Rent-Setting Software
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