Overall
New Jersey feels cheaper overall
New Jersey has the lower cost-of-living index, beating Massachusetts by 27.1 points on the overall affordability baseline.
View detailed comparison
Cost of Living Comparison
Quality of Life
Massachusetts vs New Jersey: Cost of Living
New Jersey is cheaper overall by 27.1 cost-of-living points, but New Jersey has lower median home values.
Massachusetts
MA • Northeast
148.8
Composite cost of living index (100 = national average). Lower = more affordable.
121.7
Composite cost of living index (100 = national average). Lower = more affordable.
Visual Comparison
Massachusetts
148.8
New Jersey
121.7
Difference: 27.1 points — New Jersey leads.
National Rankings
Where They Rank Nationally
See where both states fall among all 50 states for cost of living.
Massachusetts
#49 · 148.8
New Jersey
#45 · 121.7
Best
Worst
10 Best States — Cost of Living
Lower is better
#1
West Virginia
83.6
West Virginia
#2
Mississippi
85.5
Mississippi
#3
Arkansas
87.6
Arkansas
#4
Kentucky
88.0
Kentucky
#5
Alabama
88.6
Alabama
#6
Oklahoma
88.6
Oklahoma
#7
Missouri
90.0
Missouri
#8
Kansas
90.2
Kansas
#9
Iowa
91.0
Iowa
#10
Ohio
91.0
Ohio
Selected states
#49
Massachusetts
148.8
Massachusetts
#45
New Jersey
121.7
New Jersey
Massachusetts ranks 49th and New Jersey ranks 45th nationally for cost of living.
Overview
A fast-reading view of the tradeoffs behind the raw cost numbers.
Living Costs
Housing
pay about 1.3x more for a home
New Jersey has the lower median home value, while buying in Massachusetts costs materially more at the median.
View detailed comparisonRent Pressure
New Jersey puts less pressure on a median paycheck
Median rent takes a smaller share of household income in New Jersey than in Massachusetts, which makes monthly budgeting easier.
View detailed comparisonTaxes
Massachusetts keeps more income after state tax
Massachusetts has the lower top state income tax rate, which softens the total cost picture even when prices are close.
View detailed comparisonCost Stack
Massachusetts
Overall Affordability
Cost of living index
148.8
Regional price parity
110.4
Regular gas price
$3.933/gal
Electricity price
31.16 c/kWh
Housing
Median gross rent
$1,678/mo
Median home value
$510,400
Owner costs with mortgage
-
Owner costs without mortgage
-
Taxes
State income tax
5.00%
State sales tax
6.25%
Property tax
1.07%
Income
Median household income
$96,505
Income after median rent
$6,364
Minimum wage
$15.00/hr
Laws
Gun laws
Restrictive
Alcohol system
License State
Marijuana status
Legal
New Jersey
Overall Affordability
Cost of living index
121.7
Regional price parity
112.9
Regular gas price
$4.093/gal
Electricity price
23.13 c/kWh
Housing
Median gross rent
$1,576/mo
Median home value
$400,900
Owner costs with mortgage
-
Owner costs without mortgage
-
Taxes
State income tax
10.75%
State sales tax
6.62%
Property tax
2.11%
Income
Median household income
$97,126
Income after median rent
$6,518
Minimum wage
$15.49/hr
Laws
Gun laws
Restrictive
Alcohol system
License State
Marijuana status
Legal
What Stands Out
- New Jersey has lower median home values.
- New Jersey has the lower overall cost index.
- New Jersey has the higher median household income.
- New Jersey looks more attainable on home value to income ratio.
Affordability Ratios
Related Pages
What This Means
Massachusetts vs New Jersey: Cost of Living in context
New Jersey has a cost of living of 121.7, compared with 148.8 in Massachusetts. Composite cost of living index (100 = national average). Lower = more affordable.
Massachusetts
148.8
New Jersey
121.7
Difference
27.1 points
People Also Ask
Massachusetts vs New Jersey Cost of Living — Common Questions
Q What is Massachusetts's cost of living?
Massachusetts's cost of living is 148.8.
Q What is New Jersey's cost of living?
New Jersey's cost of living is 121.7.
Q Which state has a lower cost of living — Massachusetts or New Jersey?
New Jersey is cheaper overall by 27.1 cost-of-living points, but New Jersey has lower median home values.
More Comparisons: Massachusetts vs New Jersey
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Sources: Core demographic data comes from the 2020 U.S. Census, with land area from U.S. Census Bureau TIGER files. Income, housing, affordability, and tax fields are maintained in our comparison dataset; purchasing-power figures use BEA Regional Price Parities. Minimum wage data comes from the U.S. Department of Labor, gas prices from AAA, and electricity rates from the U.S. Energy Information Administration. Political control and election fields use 2024 presidential results together with National Conference of State Legislatures data. Gun-law labels use the Giffords scorecard, alcohol system data comes from NABCA, and marijuana status uses NCSL's state cannabis laws tracker.