This is the living wage a couple in NJ needs

Life in New Jersey is expensive, we all know that.

According to Salary.com, the total monthly cost of living with rent for one person in New Jersey is $2534, which is 1.17 times more expensive than the US average.

Some of the factors that contribute to the high cost of living in New Jersey are housing, utilities, food, and transportation.

Housing is 31% higher than the national average, while utitlities are 8% higher.

Groceries are around 4% higher than the rest of the country, while clothing costs 4% more.

Transportation costs, such as gas and local transit tickets are also higher than the national average.

Canva

However, the high cost of living in New Jersey also comes with some benefits, such as higher salaries, better education, and more cultural diversity.

New Jersey ranked 29th best state to live in the United States, according to [U.S. News]. New Jersey has the second-highest median household income in the country, the fourth-lowest poverty rate, and, according to one report, anyway, the best public school system.

Go Banking Rates plotted out how much a couple needed in each state to get by.

Canva

“Living wage” is defined as the income required to be able to cover 50% necessities, 30% discretionary/luxury spending and 20% for savings.

So, what is the living wage for a couple in New Jersey? According to Go Banking Rates, the living wage for a couple in New Jersey is $84,278.

The good news is that New Jersey’s median household income is $97,126, so that means a lot of people are making that living wage!

New York, California, Hawaii, and Massachusetts all have a living wage over $100,000. In West Virginia, $61,000 is a living wage for a couple.

sirichai_ec2

LOOK: Here are the best small towns to live in across America

LOOK: Counties with the highest unemployment in New Jersey

Stacker compiled a list of the counties with the highest unemployment in New Jersey using data from the Bureau of Labor Statistics. Counties are ranked by unemployment rate in November 2023.

Gallery Credit: Stacker

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Bill Doyle only.

You can now listen to Deminski & Doyle — On Demand! Hear New Jersey’s favorite afternoon radio show any day of the week. Download the Deminski & Doyle show wherever you get podcasts, on our free app, or listen right now.

Click here to contact an editor about feedback or a correction for this story.

Source: This is the living wage that a couple in NJ needs