Collingswood, NJ, has a higher cost of living compared to the nationwide average. The overall cost of living index in Collingswood stands at 110, which is 10% higher than the national average of 100. This increase is largely driven by housing costs, which are 20% higher than the national average.
While other categories like groceries, utilities, and healthcare also show slight increases, the transportation and miscellaneous costs are relatively close to the national average. Job seekers should consider these factors when planning their budget in Collingswood.
Collingswood, NJ, has a higher cost of living compared to the nationwide average. Housing costs in Collingswood are 20% higher than the average, with a cost of living index of 120. This means that housing expenses, such as rent or mortgage payments, are significantly more expensive here. Groceries also cost more, with a 5% increase, making the index 105. This indicates that buying food and household items is slightly pricier in Collingswood.
Utilities, however, are slightly cheaper than the average, with an index of 95. This means residents can save a bit on electricity, gas, and water bills. Transportation costs are 10% higher, with an index of 110, showing that commuting and owning a vehicle are more expensive. Healthcare costs are 2% higher, with an index of 102, indicating that medical services and insurance might be a bit more costly. Miscellaneous expenses, such as entertainment and clothing, are also 8% higher, with an index of 108. Overall, Collingswood's cost of living is notably higher than the national average, especially in key areas like housing and groceries.
