Counties with the Lowest Cost of Living in New Jersey

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NJ

1. Salem

County in New Jersey

1

Home Value to Income Ratio: 3.1 : 1

The ratio of the median home value to the median family income.

Median Effective Property Tax: 2.60 %

The percent of the median property taxes paid on homes over the median home value.

Median Home Value: $189,300

The median home value for the area, where least expensive is considered better.

Median Rent: $999

The median rent for an area, where least expensive is considered better.

Monthly Housing Cost to Income Ratio: 0.2 : 1

The ratio of the median monthly housing cost for homeowners to the median monthly household income.

CPI Gas Index: 0.97

Consumer Price Index of regular grade, unleaded gas compared to the national average in 2015 (lower is better).

CPI Grocery Index: 01.05.2017

Consumer Price Index of various grocery items compared to the national average in 2015 (lower is better).

Rent to Income Ratio: 0.2 : 1

The ratio of the median monthly rent to the median monthly individual income.

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