Michigan vs New Jersey: taxes, cost of living, laws

Michigan

Moderate tax burden · COL index 88

Wins 10 categories

New Jersey

High tax burden · COL index 121

Wins 5 categories

New Jersey's top income tax rate is 10.75% vs Michigan's 4.25%. Cost of living in New Jersey (index 121) runs 38% higher than Michigan (index 88). Property taxes are meaningfully different: New Jersey averages 2.13% annually vs Michigan's 1.32%. The median home in New Jersey costs $500K vs $250K in Michigan.

Michigan

New Jersey

Taxes

4.25%

Income Tax (top rate)

10.75%

1.32%/yr

Property Tax Rate

2.13%/yr

Sales Tax (avg)

6.6%

Social Security Tax

Yes

Estate Tax

Yes

As income

Capital Gains Tax

As income

Housing & Cost of Living

COL Index (100=avg)

121

$250K

Median Home Price

$500K

$1,150/mo

Median Rent (2BR/mo)

$2,200/mo

$1K/yr

Home Insurance (avg/yr)

$1K/yr

Crime & Safety

445

Violent Crime / 100K

213

1,670

Property Crime / 100K

1,368

405

Sex Offenders / 100K

Homeless / 100K

134

Healthcare

#25 of 50

Healthcare Quality Rank

#19 of 50

75.7 yrs

Life Expectancy

79 yrs

5.9%

Uninsured Rate

6.8%

Yes

Medicaid Expansion

Yes

Education

#38 of 50

K-12 Quality Rank

#2 of 50

School Choice / Vouchers

Childcare

$1,300/mo

Avg Infant Care / mo

$1,800/mo

Utilities & Daily Costs

$140/mo

Avg Energy Bill / mo

$155/mo

$460/mo

Avg Groceries / mo

$640/mo

#47 of 50

Road Quality Rank

#44 of 50

Social Policy

C+

Gun Laws Grade

R+2.0

2024 Presidential Margin

D+6.0

Category wins

Michigan

New Jersey

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