NEW JERSEY — New Jersey residents spend the smallest percentage of their household income on fast food purchases among all 50 states, according to a new analysis by personal finance website WalletHub.
The study examined the average cost of common fast-food items — a burger, an 11- to 12-inch pizza and a fried chicken sandwich — and compared those prices with each state’s median household income to determine where fast food places the greatest and least financial burden on consumers.
WalletHub found that the average cost of the three fast-food items in New Jersey is $23.51. When measured against the state’s median monthly household income, those purchases account for just 0.27% of household earnings, the lowest percentage in the nation.
The findings come as fast-food prices have increased by an average of 60% over the past decade, according to WalletHub.
Among individual menu items, New Jersey ranked 14th nationally for the average price of a burger, 16th for the average price of a fried chicken sandwich and 40th for the average price of an 11- to 12-inch pizza.
The study focused on affordability rather than price alone, comparing food costs with income levels in each state to determine how much of a household’s budget is needed to purchase common fast-food meals.
According to WalletHub, while New Jersey’s fast-food prices are not among the nation’s lowest, the state’s comparatively higher household incomes make those purchases less burdensome for residents than in other parts of the country.
The full report is available at WalletHub.com.
