Quick Answer: Is It Cheaper To Live In New Jersey Or New York?

Why do New Yorkers hate Jersey?

New Yorkers probably hate trying to get there.

NJ has tolls everywhere along the east side (by NYC).

The bridges are expensive and the major highway is so crowded (again, NJ is the most densely populated state) that paying for a road that is backed up is both frustrating and ridiculous..

What is a livable salary in NJ?

Living Wage Calculation for New Jersey1 ADULT2 ADULTS (BOTH WORKING)0 Children3 ChildrenLiving Wage$14.03$22.63Poverty Wage$6.00$7.25Minimum Wage$10.00$10.00

Can you live in NYC on 50k a year?

“I definitely think you can live comfortably on a salary of $50,000, even in New York City,” says Haskins. “It’s an expensive city, but I think if you know where your money is going and you recognize what your priorities are, it’s totally doable.”

What taxes do I pay if I live in NY and work in NJ?

Will I Pay Taxes in Both NY and NJ? Not really. While you do have to file taxes with New York and New Jersey, you don’t have to pay double taxes. New Jersey residents will receive a tax credit on their New Jersey return for any tax paid to New York, or another state, on income earned in and taxed to both states.

Are taxes higher in NY or NJ?

While both New York and New Jersey have relatively high income taxes, New Jersey’s lowest income tax rate is 1.4 percent while New York’s is 4 percent. The lowest tax bracket is also wider in New Jersey than in the Empire State, as of 2018.

Is it better to live in New York or New Jersey?

NJ is much more suburban. NYC is the big city. That is why there are so many bedroom communities around the city. … The State of New York is probably a better state to live in than New Jersey.

Is it expensive to live in New Jersey?

New Jersey is a notoriously expensive state to live in. … As a result, New Jersey rents are well above average. Studio apartments in New Jersey have a median of $1,084 per month, according to 2019 data from Apartment List. That’s $257 above the national average.

Where is the cheapest rent in New Jersey?

On the other end of the spectrum, the cheapest place to rent in New Jersey was Lindenwold. The Camden County borough of about 17,000 residents, which is about 30 minutes from Philadelphia, cost the average tenant $990/month and was the only place in the state where rents came in below $1,000.

Is New Jersey same as New York?

New Jersey is a state in the Mid-Atlantic region of the Northeastern United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware River and Pennsylvania; and on the southwest by Delaware Bay and the State of Delaware.

Do you get taxed twice if you live in NJ and work in NY?

While in New Jersey, you will need to file as a resident (NJ-1040). But if you’re filing two returns, that begs the question: do you pay double taxes if you live in NJ and work in NY? Great news for you, no! You do not have to pay double taxes.

What salary do you need to live in NYC?

To live a comfortable and satisfying lifestyle in New York, even when you have roommates splitting the cost, a yearly income of $50,000 or more is ideal.

Why is rent so high in New Jersey?

NJ property taxes (and education costs) are so high because of places like NYC and Philly. Jersey also has the shore and mountains. Although the large cities are not within the state, the areas are still enjoyed and employed by New Jerseyans.

Is 80k a good salary in NYC?

You can do quite well in NYC with 80k/year depending. If you’re sharing an apartment you’ll have a lot more buying power, but 80k won’t put you in the lap of luxury. … Me, I was making $60k when I left NYC, and lived much more modest.

Can you live in NYC on 30k a year?

Yes, easily, but you would have to share an apartment, paying about $750 per month for a room in the outer boroughs and far out in them as well, but at $30,000 your taxes would be low and you might still have $1,000 or so a month left for other expenses.

Are property taxes higher in NY or NJ?

WalletHub determined that New Jersey has the lagest real estate property tax rate among the 50 states and the District of Columbia. … New York placed as the ninth state with the largest property tax rate. The state’s rate is 1.68 percent annually — or $3,246 — on a home valued at the United States median of $193,500.

How much money do you need to live comfortably in NJ?

That translates to an annual salary of $56,810 per year. To live in a one-bedroom apartment, you need to make $46,619 per year on average. Minimum-wager earners in New Jersey would have to work a whopping 106 hours per week to afford a modest one-bedroom apartment at the fair market rent of $1,165 per month.

Why do New Yorkers hate Staten Island?

The North Shore is associated with some pretty nasty slums. You need to take a ferry or a bridge to get to SI, and once you’re there, there’s nothing in terms of entertainment, not many famous restaurants, etc. It’s mostly disconnected from the rest of the city, due to the lack of subway presence.

What is the nicest town in New Jersey?

The Most Beautiful Towns in New Jersey, USACape May. Architectural Landmark. Facebook. … Lambertville. Architectural Landmark. Facebook. … Collingswood. Architectural Landmark. Facebook. … Allentown. Architectural Landmark. Facebook. … Spring Lake. Architectural Landmark. Facebook. … Clinton. Architectural Landmark. … Frenchtown. Architectural Landmark. … Cranbury. Architectural Landmark.More items…•