Living in ny vs nj.

Living in ny vs nj New York is one of the Worst cities in the United States for driving. In light of the sky-high NYC prices, we're exploring the idea of making a home in New Jersey. Plus, you’ll want to look at key factors, such as housing costs, tax implications, public transport, educational opportunities, and lifestyle. 22 miles: Cost of Living in Newark, New Jersey: 11. Those living in New Jersey but working in New York City must file non-resident taxes for income earned in New York State. Mar 25, 2024 · Cost of Living: Connecticut vs New Jersy. This calculation uses our Cost of Living Plus Rent Index to compare the cost of living and assume net earnings (after income tax). Dec 5, 2022 · In this article, we’ll take a closer look at three factors that influence the Manhattan vs. I moved out of NYC to avoid the city tax and also the more expensive NY state tax. 56 miles: Cost of Living in Mar 25, 2025 · The cost of living in Jersey City, NJ is about the same as in New York, NY. 5$ in New York, NY to maintain the same standard of life that you can have with 8,400. Jun 12, 2024 · New Jersey residents working in New York must file tax returns in both states but are safeguarded against double taxation via New Jersey’s tax credit for taxes paid to New York. Is New Jersey cheaper than New York? Newark is significantly more affordable than New York. Nope. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. Our checkboxes include having a place with a dishwasher and hopefully a washer/dryer. Train Availability For instance, if your annual income from a job in New York is $90,000 and you live in New Jersey, the calculator will factor in the taxes owed to New York and any applicable credits or deductions for New Jersey residents. It can be a significant advantage if you are looking to save money on your monthly expenses. "Determining whether it's cheaper to live in New York City versus New Jersey depends on your lifestyle preferences," she says. Even though New York's state income tax rate isn't much higher than New Jersey's (New York state income taxes range from 4% to 10. Nov 27, 2018 · Shopping is less expensive in New Jersey. Cost of living in New York (US) compared to New Jersey (US). 875 percent sales tax. In fact, with Jersey City being a mere 20-40 minute subway ride, it’s not uncommon for people to work in New York City but live in New Jersey. New Jersey's statewide retail sales tax is 6. I personally price in a premium for NY commute hassle as well. Housing is generally cheaper in New Jersey than it is in New York City. Every borough of New York City has an 8. (2025-03-25 Feb 18, 2022 · A New Jersey resident working in the state at your salary level would incur tax of $7,365 based on 2021 tax rates, said Neil Becourtney, a certified public accountant and tax partner with Jan 25, 2024 · Jennifer Darby Metzger, broker/owner at ERA Justin Realty Co. In the 80k salary range it’s about even to 70k in NJ. 625%. Nov 1, 2022 · As a NJ resident who works in New York, you’ll need to file a NJ State Income Tax with Form NJ-1040 as well as a NY Non-Resident Income Tax return with Form IT-203. JC downtown/Newport is also a special zone where you only pay 3. If you live in NYC, but work in Jersey you’re going to end up paying taxes to both NJ and NY. You won't have to pay the NY city income tax or the NY state income tax. Feb 22, 2024 · Living in New Jersey offers easy access to New York City. All three major hubs are within a 1-2 hour drive. 5%, which is much much less than NY's. I work in NYC and live in NJ (near Rutgers). 65% sales tax for items shipped to you. New York is one of the most expensive cities in the northeastern United States, with a Cost of Living Index of 255. 875% while New Jersey has a sales tax of 6. NY state will give you a credit for NJ state tax, so you don't really pay twice. Don’t forget a good burger deluxe in midtown is $15+ easy. Jun 12, 2024 · When considering living in New Jersey or New York, you should evaluate a variety of factors. Prior to 2017, the sales tax rates was 7 percent. New York at state level. This means that living in New York City is 155% more expensive than the national average of 100. Oct 6, 2022 · Pros of Living in New Jersey. Compare Living in New Jersey vs. New York. This assumes you take bus or train in, park and subway or PATH. NextBurb's app allows you to compare two states by any living standard you choose! You can compare by demographics, schools, commute times, cost of living, safety and more! Feb 25, 2024 · The Cost of Living in Newark vs. Jersey debate — cost of living, ease of access to Manhattan, and cultural appropriation — and see if we can resolve this long-standing battle once and for all. Compare the cost of living in Morristown, NJ vs. Income tax rates in NJ vs. 6. Our new workplace will be based in Midtown NY's NoMad area. There are a few advantages to living in New Jersey while working in New York City. Overall, New Jersey offers a suburban lifestyle with a focus on community, while New York caters to those seeking a dynamic city life or quiet rural escapes. Plan on spending more on gas and auto expenses if you move to New York, resulting in a higher cost of living. 63 miles: Cost of Living in Paterson, New Jersey: 17. 95 miles: Cost of Living in Bergen County, New Jersey: 20. Cost of Living in Rutherford, New Jersey: 10. New York has a sales tax of 8. If you shop in an area that is designated as an Urban Enterprise Zone, you will only have to pay half the standard sales tax rate. How does the cost of living compare between New York and New Jersey? Generally, New York, Jun 22, 2024 · Income taxes are higher in New York City than in New Jersey. And there are different factors that will influence your Aug 15, 2022 · Personal finance website WalletHub broke down the best and worst states to live in for 2022, based on a variety of different factors, and found New York and New Jersey were 2nd- and 3rd-best You would need around 11,592. If New Jersey levies a higher marginal rate on our couples’ income, why is New York taking more tax? The answer is that New York imposes a higher effective tax rate. 625 percent -- already less than New York's. I save about $350 per month on tax but have a longer and more expensive commute. Consider the cost of living differences, the ease of your commute, and the culture of the area. Both states are roughly 10% to 20% higher than the national average and much lower than New York City. Nov 30, 2021 · The cost of living index in New Jersey is 120. If you’re mostly expecting to go out in Manhattan in the weekend (vs Brooklyn) it would probably be best to live in Hoboken and then go into Manhattan via Mar 25, 2025 · If you are planning to drive to work, you will be spending a lot of time and gas to get there. New York (Manhattan), NY and see how far your salary will go to maintain your standard of living. Nov 20, 2024 · From the high-energy streets of Times Square to the expansive Adirondacks, New York offers diverse living options but tends to draw those who thrive on activity and innovation. , is dually licensed in New Jersey and New York and has over 15 years of experience in real estate. 13 miles: Cost of Living in Hempstead, New York: 22. What’s the income tax difference between living in Jersey City and working in Manhattan vs living and working in Manhattan for a $110k salary? Seems like living in Manhattan means higher taxes however I am not super well acquainted with NJ and NY taxes. New York is ranked number 94 out of 100 major cities. Mar 6, 2024 · New York has nine brackets from 4% to 10. May 13, 2023 · Check this guide to know the pros and cons of moving to New Jersey vs New York City and whether it is the right choice for you. We help you decide by comparing all the largest By living in JC, you no longer pay the ~4% NYC city tax on income. Employers in Jersey City, NJ typically pay about the same as employers in New York, NY . However, the wealth distribution seems to be more extreme in Connecticut than in New Jersey. 7. 75% sales tax shopping in person. New York, on the other hand, has a cost of living index of 120. As a whole, the cost of living in CT and NJ is roughly the same. 90% NYC newbies here, currently residing in Los Angeles and planning a move to the Big Apple this October. 4, meaning it is about 20% more expensive to live in New Jersey than the national average (100). 26 miles: Cost of Living in West Caldwell, New Jersey: 23. 0 $ in Jersey City, NJ (assuming you rent in both cities). NY are pretty close, so the main tax savings will only be for people who work in NYC, but live in NJ. I’ve been living in Wayne NJ for 30 years and have had positions, commuting all over NJ and Manhattan. Mar 12, 2024 · Thankfully, those living in New Jersey have their fair share of neighbors to choose from — like New York City, Philadelphia, Washington DC. Cheaper Housing. 5, so it is on par with New Jersey but both states are still well above the national average. The Jersey state income tax is only like 5. 9%; for taxable incomes between $161,551 and $323,200, the married filing jointly rate is 6%. This post compares the cost of living in New York City versus nearby cities in New Jersey and why moving to Hoboken, Weehawken, or Jersey City might make more sense. Advantages of the NY-NJ Tax Calculator Nov 21, 2009 · jks1985 wrote: Fri Oct 26, 2018 5:03 pm Move to the Jersey City waterfront. As well, generally day to day living is going to be more expensive in Manhattan vs Hoboken. NJ state income tax bracket rates are also lower than NY state. . You would have to earn a salary of $60,000 to maintain your current standard of living.