Ocean City, NJ, has a higher cost of living compared to the nationwide average. The overall cost of living index in Ocean City stands at 112, which is 12% above the national average of 100. This increase is largely driven by higher housing costs, which are 35% above the national average.
While other categories like groceries, utilities, transportation, healthcare, and miscellaneous expenses also contribute to the higher cost of living, housing remains the most significant factor. Job seekers should consider these costs when evaluating employment opportunities in Ocean City.
Ocean City, NJ, has a higher cost of living compared to the nationwide average, which is set at 100. The housing index stands at 135, indicating that housing costs are 35% higher than the national average. This significant increase can impact potential residents' budgets, making it essential to consider these higher expenses when planning a move.
In addition to housing, Ocean City's grocery costs are also above average, with a cost of living index of 110. This means groceries are 10% more expensive than the national average. Utilities, however, are slightly below the national average, with an index of 95, offering a 5% reduction in cost. Transportation costs mirror the national average at 105, which is a 5% increase. Healthcare costs remain consistent with the national average at 100, while miscellaneous expenses are 20% higher, with an index of 120. These factors combine to paint a picture of the overall cost of living in Ocean City, NJ, highlighting both the challenges and potential savings areas.
