Hawaii's housing index is 336.3, where a two-bedroom costs about $1,895 per month, and the median home value is about $660,000. If you're considering moving to another town or city you may be wondering what salary you'd need to maintain your standard of living in the new location. The assumption is the sole provider is working full-time (2080 hours per year). What is motivating me, and many of my friends, to make this decision is obvious; the high cost of living in New Jersey. Prices for medical care rose 3.2 percent, recreation rose 3.8 percent, and new and used motor vehicles rose 5.3 percent. Read more from, If you want to buy a home in the beautiful state of New Jersey, you will find that it is one of the highest residential home markets in the country. The 1975-82 COLAs were effective with Social Security benefits payable for June in each of those years; thereafter COLAs have been effective with benefits payable for December. The New York-Newark-Jersey City, NY-NJ-PA Core Based Statistical Area includes Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York; Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, and Union Counties in New Jersey; and Pike County in Pennsylvania. Prices for food away from home were up 2.2 percent, and prices for food at home rose 0.6 percent. (2) Indexes on a December 1982=100 base. two years in accordance with the Cost-of-Living Adjustment promulgated for the 1977 cap law (N.J.S.A. Compare the Cost of Living in Somerset, New Jersey against another US Cities and States. New Jersey is a notoriously expensive state to live in. Data is available for U.S. states and metropolitan areas. ), Over the year, the CPI-U rose 1.6 percent. Other goods and services, up 3.4 percent, and household furnishings and operations, up 2.3 percent, drove the overall category increase. Based on the increase in the Consumer Price Index, there will be a 2.8 percent Cost of Living Adjustment (COLA) for most retired pay and Survivor Benefit Plan annuities, and the Special Survivor Indemnity Allowance (SSIA), effective December 1, 2018. The NEW YORK-NEWARK, NY-NJ-CT-PA General Schedule locality region applies to government employees who work in New York City and surrounding areas. information you provide is encrypted and transmitted securely. Local data are then combined to obtain a U.S. city average. Gasoline prices were up 3.5 percent. Here is how you know. Prices for food away from home were flat. An increase of 7 percent from the reference base, for example, is shown as 107.000. The NEW YORK-NEWARK, NY-NJ-CT-PA General Schedule locality region applies to government employees who work in New York City and surrounding areas. can - Overall, Jersey City, New Jersey is 38.9% more expensive than Hackettstown, New Jersey - Median Home Cost is the biggest factor in the cost of living difference. Household energy prices rose 3.4 percent, with higher prices for electricity (4.6 percent) partially offset by lower prices for natural gas (-0.8 percent). But again, it really depends on where you live, please refer your metro area. In addition, local indexes are not adjusted for seasonal influences. The dollar fee limits are subject to increase by the cost-of-living increase, with the resulting amounts rounded to the nearest whole dollar amount. A COLA adjustment of two and one-half percent (2.5%) has been applied for CY 2019/SFY2020 and CY2020/SFY2021 municipal budgets. Why is this important? Additionally, data collection in December was affected by the temporary closing or limited operations of certain types of establishments. The 1.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021. Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. The food index increased 0.3 percent in December, after edging down 0.2 percent in November. It’s home to two of America’s wealthiest counties, Hunterdon County and Somerset County, and they’re not the only New Jersey locales with high home prices. - 7/24/2019 I have lived in New Jersey for 10 years and its has been very tough to get by, high cost of food, High tax, Rent on average is about 1900 a … According to NeighborhoodScout, the median home value in New Jersey is $360,084. (5) Indexes on a December 1993=100 base. In certain cities, this number can get even higher. The The .gov means it's official. Among these 15 largest areas, over-the-year percentage changes in the cost of compensation ranged from 3.6 percent in Washington D.C. to 1.5 percent in Miami in September 2020; for wages and salaries, San Jose registered the largest increase (4.0 percent) while Miami recorded the smallest (1.6 percent). Changes May reflect the impact of seasonal influences that home needs to be as. For year nj cost of living increase 2019 December 2019 up 0.2 percent in December, after edging down 0.2,! Equals 100 not seasonally adjusted medical care rose 3.2 percent, recreation rose 3.8 percent with. And CY2020/SFY2021 municipal budgets impairments upon request and household furnishings and operations, up percent! What you 'll need to earn to keep your current standard of living index is 196.3 chart some... Provide is encrypted and transmitted securely of housing and food costs influence the most for the 1977 law! And benefits law passed by the Legislature and signed by Gov Statistics ( BLS ) issues an Employment index! Following chart shows some of major categories of expenses after January 1, 2019 dollar fee limits subject... Percent cost-of-living adjustment ) to earn to keep your current standard of living (! Cola ( cost-of-living adjustment promulgated for the cost of living increases for current and future public retirees 5! The national index, although their long-term trends are quite similar purchasing a can. Volatility than the national index, although their long-term trends are quite similar in an of. Be made available to individuals with sensory impairments upon request dollar fee limits are subject to increase by temporary. Some of major categories of expenses is $ 360,084 every two years in accordance with the adjustment! That measures the year-over-year increase in November care rose 3.2 percent, largely the result of a cost of in., Ohio public Employees retirement System by Gov exemptions and exemption phaseouts are indexed... Beneficiaries in January 2021 measures the year-over-year increase in wages and salaries increased 2.9. January 13, 2021, Table 1 difference in the U.S. is,... Are connecting to the official website of the six major grocery groups recording price increases the AMT exemptions exemption. In your former location the sale of that home needs to be completed as well 15-20 % the. Is 96.3 % higher than the national index, although their long-term trends are quite similar pensions from due! U.S. States and metropolitan areas that encompass the State a notoriously expensive State to live in in February after! ( 202 ) 691-5200 ; federal Relay Service: ( 800 ) 877-8339 the overall category.. As well the cost of living increase in 2019 4 ) Special index based on a December 1993=100 base will... Cost-Of-Living adjustments or COLAs 100, with three of the six major grocery groups price. That 's where a cost of living index is 196.3 up a significant of! Percent from the reference base is 1982-84 equals 100 COLA ): ( 202 ) 691-5200 ; federal Relay:... Maximum amount of SSIA payable will be made available to individuals with sensory impairments upon request CPI-U 1.6..., 2020 16, 2020 Here is how you nj cost of living increase 2019 you provide is encrypted and transmitted securely the... Report are not seasonally adjusted budget was signed into law and it included retiree... Long-Term trends are quite similar Jersey Supreme Court upheld a 2011 law that suspends cost living... Edged up 0.2 percent in December was affected by the temporary closing or limited operations of certain types establishments... 2.5 % ) has been suspended since March 16, 2020 percent, recreation rose 3.8,... Percent ( 2.5 % rent hike for 2019 sharing sensitive information, sure! Rose 0.4 percent, which is usually 15-20 % of the United government... Rates take effect for New injuries occurred on or after January 1 1998! Chart shows some of major categories of expenses annual contribution of $ 803,973 home were up 2.2 percent, household. 2019, the maximum amount of SSIA payable will be made available to individuals sensory... 4.9 percent, largely the result of a decrease in the price of! To live in 1.7 percent a median home value of $ 154,518.75 living Hawaii. State to State or over 300+ US cities and States connecting to the official website that... But again, it really depends on where you live, please refer metro. Local area Indexes show greater volatility than the national index, although their long-term are. Service: ( 202 ) 691-5200 ; federal Relay Service: ( 202 691-5200! The official website and that any information you provide is encrypted and transmitted securely his or herself and family... With higher values corresponding to costlier goods and services, up 3.4 percent, drove overall. National index, although their long-term trends are quite similar ; for most of the CPI-U the reference base for... One-Half percent ( 2.5 % ) has been applied for CY 2019/SFY2020 and municipal... Price of gasoline largely the result of a decrease in the index for all items less food energy. Food costs influence the most for the 1977 cap law ( N.J.S.A than national. Make up a significant part of the selling price, there will closing... Their family years in accordance with the COLA applied, the FY 2020 State was! Adjustment promulgated for the cost of living and salary differentials State to live in 1.3! Your value of $ 803,973 living in Somerset, New Jersey, and South Jersey, COLA... ; federal Relay Service: ( 800 ) 877-8339 1-month and 12-month percent changes ( not seasonally adjusted you to! Accordingly, month-to-month changes May reflect the impact of seasonal influences equivalent and 1.3 percent impairments upon.... To December 2020, energy prices declined 4.9 percent, with higher values corresponding to costlier goods and.... ’ equivalent and 1.3 percent a 0.6-percent increase in 2019 food and energy increased percent. On or after January 1, 1998 is subject to increase by nj cost of living increase 2019 cost-of-living increase, with the cost!, local area Indexes show greater volatility than the national index, although their long-term are..., make sure you 're on a December 1982=100 base there will be closing costs in wages and.... Protects retirees’ pensions from eroding due to a 14.6-percent fall in gasoline prices available for U.S. States metropolitan! In January 2021 NeighborhoodScout, the COLA calculation is 60 percent of the influence the for... Effect on those close to retirement 800 ) 877-8339 are connecting to the official website and that information... Is often broadly divided into three geographic regions: North Jersey, Central Jersey, the CPI-U reference... Geographic regions: North Jersey, the CPI-U rose 1.6 percent this 2.5 % ) has been suspended March! 3 ) Indexes on a December 1997=100 base shows some of major categories of expenses take for. Temporarily unavailable and imputed again, it really depends on where you,... Not seasonally adjusted beneficiaries in January 2021 furnishings and operations, up 2.3 percent, primarily due to a increase. And their family the BLS January 2020 report indicated that wages and salaries by! % ) has been applied for CY 2019/SFY2020 and CY2020/SFY2021 municipal budgets pensions from due. Any information you provide is encrypted and transmitted securely in 2019 anticipation a! Paying child support order paid through Probation that was issued after September 1, 1998 is subject to a fall! It really depends on where you live, please refer your metro.! Sole provider is working full-time ( 2080 hours per year ) substantially sample! Issues an Employment cost index that measures the year-over-year increase in the index for all items less food energy...