Cost of Living in Carteret, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
162.9
100 = national avg
+62.9 vs national average
Living Wage (1 Adult)
$71,691
per year
Living Wage (Family of 4)
$169,451
per year
Cost Index by Category
Housing229.4
Food116.9
Transportation133.8
Healthcare113.5
Utilities136.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,978
per month
2 Bedroom
$2,486
per month
The overall cost of living index in Carteret is 162.9, which is 62.9% above the national average. Housing costs are above the national average at an index of 229.4. A single adult needs to earn approximately $71,691 per year to cover basic expenses.