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

New Jersey

High tax burden · COL index 121

Wins 7 categories

Tennessee

Low tax burden · COL index 92

Wins 8 categories

Tennessee has no state income tax. New Jersey's top rate is 10.75%. Cost of living in New Jersey (index 121) runs 32% higher than Tennessee (index 92). Property taxes are meaningfully different: New Jersey averages 2.13% annually vs Tennessee's 0.45%. The median home in New Jersey costs $500K vs $350K in Tennessee.

New Jersey

Tennessee

Taxes

10.75%

Income Tax (top rate)

None

2.13%/yr

Property Tax Rate

0.45%/yr

6.6%

Sales Tax (avg)

9.55%

Yes

Social Security Tax

Yes

Estate Tax

Yes

As income

Capital Gains Tax

None

Housing & Cost of Living

121

COL Index (100=avg)

$500K

Median Home Price

$350K

$2,200/mo

Median Rent (2BR/mo)

$1,400/mo

$1K/yr

Home Insurance (avg/yr)

$2K/yr

Crime & Safety

213

Violent Crime / 100K

668

1,368

Property Crime / 100K

2,752

Sex Offenders / 100K

389

134

Homeless / 100K

115

Healthcare

#19 of 50

Healthcare Quality Rank

#39 of 50

79 yrs

Life Expectancy

74.2 yrs

6.8%

Uninsured Rate

10.4%

Yes

Medicaid Expansion

Education

#2 of 50

K-12 Quality Rank

#41 of 50

School Choice / Vouchers

Yes

Childcare

$1,800/mo

Avg Infant Care / mo

$1,000/mo

Utilities & Daily Costs

$155/mo

Avg Energy Bill / mo

$130/mo

$640/mo

Avg Groceries / mo

$420/mo

#44 of 50

Road Quality Rank

#10 of 50

Social Policy

Gun Laws Grade

D+6.0

2024 Presidential Margin

R+24.0

Category wins

New Jersey

Tennessee

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