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Study: New Jersey is one of the most expensive places to live in the U.S.

NEW JERSEY – New Jersey is one of the most expensive places to live in the U.S., according to the Cheapest States to Live in the U.S 2023 study.

The first study by Scholaroo, examined the cost of living in all 50 states across 31 metrics distributed in 9 key cost and expenditure indicators – New Jersey ranks #45 on the list, being one of the least affordable states to live in the country this year.

Here is the state breakdown ranking in descending order, with #1 considered the best and #50 the worst:

#42 Living Expenses: $1,813 average monthly expense
This category reflects basic living expenses, such as rent, groceries, utilities, etc.

#45 Personal Expenses: $185 average monthly expense
This category reflects basic personal expenses, such as gym, manicure, haircut, etc.

#22 Income: $89,703 average annual income
This category reflects the median annual income in each state.

#45 Health Cost: $961 average monthly expense
This category reflects the basic healthcare expenses, such as health insurance, visits to the doctors, etc.

#25 Insurance Cost: $3,320 average cost per month
This category reflects the basic insurance expenses, such as life insurance, car insurance, etc.

#45 Loans & Credit Card Bill: $2,815 average cost per month
This category reflects the basic loans and credit card expenses, such as mortgage, car loan, etc.

#45 Telecommunications Cost: $414 average cost per month
This category reflects the basic telecommunications expenses, such as cellphone, cable and internet, etc.

For the complete Cost of Living 2023 rankings and further methodology, click here.

Jay Edwards

Born and raised in Northwest NJ, Jay has a degree in Communications and has had a life-long interest in local radio and various styles of music. Jay has held numerous jobs over the years such as stunt car driver, bartender, voice-over artist, traffic reporter (award winning), NY Yankee maintenance crewmember and peanut farm worker. His hobbies include mountain climbing, snowmobiling, cooking, performing stand-up comedy and he is an avid squirrel watcher. Jay has been a guest on America’s Morning Headquarters,program on The Weather Channel, and was interviewed by Sam Champion.

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