New Jersey Ranks As One Of The Most Expensive States To Live In, Surprised?

New Jersey Ranks As One Of The Most Expensive States To Live In, Surprised? Not sure why you aren't surprised? Probably because New Jersey is usually on the list of the most expensive states to live in.

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Personally, I feel two of our most expensive items I have to deal with are utilities and car insurance. Both are expensive, and both continue to grow on our monthly expense list. Many complain about property taxes, but living in Southern Ocean County, our property taxes are reasonable. Property taxes depend on your town and, of course, home size, so these factors can change from homeowner to homeowner.

What is "Cost of Living"?

The cost of living is simply how much money it takes to live your everyday life. That includes things like housing, groceries, gas, bills, healthcare, and the little extras we spend on during the week.

Think of it like this — when people say the cost of living is high in New Jersey, they mean everyday life just costs more here compared to some other places.

I recently came across an article from Daily Passport that listed the states with best to worst "cost of living" rankings. The sad news is that New Jersey ranks as one of the highest "cost of living" states in America.

"To compile this list, we consulted data from the Council for Community and Economic Research, which looked at the average cost of housing, groceries, utilities, health care, and transportation in all 50 states. You can view the full report here."

The article list includes all 50 states and adds Puerto Rico and the District of Columbia, which are not states. New Jersey ranks among the highest 5 states in America.

The state ranked with the best "cost of living" state, according to Daily Passport, is Oklahoma, and the worst is Hawaii. New Jersey ranks 44th in the nation, making us in the Top 10 worst "cost of living states". (Data from MERIC)

What are your biggest "cost of living" expenses here in New Jersey?