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 116, which is 16% higher than the national average of 100. This increase is driven by higher housing and transportation costs, which are at 150 and 120, respectively.
Despite some categories like utilities and healthcare being close to the national average, the elevated housing and transportation costs make Ocean City more expensive. Job seekers should consider these factors when planning their relocation.
The cost of living in Ocean City, New Jersey, shows some significant differences compared to the nationwide average. Housing costs in Ocean City are notably higher, with an index of 150. This means housing expenses are 50% more than the national average. For job seekers considering this area, this could be a major factor in their budget planning.
Other expenses also reflect higher costs in Ocean City. Groceries have an index of 110, indicating they are 10% more expensive than the national average. Transportation costs are 20% higher, with an index of 120. Utilities, however, are slightly lower, at 95, which means they are 5% cheaper than the national average. Healthcare costs stand at 105, showing a 5% increase. Miscellaneous expenses also rise, with an index of 115, meaning they are 15% higher than average. These figures highlight the need for careful financial planning for those relocating to Ocean City.
