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

New Jersey

High tax burden · COL index 121

Wins 3 categories

Virginia

Moderate tax burden · COL index 102

Wins 11 categories

New Jersey's top income tax rate is 10.75% vs Virginia's 5.75%. Cost of living in New Jersey (index 121) runs 19% higher than Virginia (index 102). Property taxes are meaningfully different: New Jersey averages 2.13% annually vs Virginia's 0.74%. The median home in New Jersey costs $500K vs $390K in Virginia.

New Jersey

Virginia

Taxes

10.75%

Income Tax (top rate)

5.75%

2.13%/yr

Property Tax Rate

0.74%/yr

6.6%

Sales Tax (avg)

5.73%

Yes

Social Security Tax

Yes

Estate Tax

Yes

As income

Capital Gains Tax

As income

Housing & Cost of Living

121

COL Index (100=avg)

102

$500K

Median Home Price

$390K

$2,200/mo

Median Rent (2BR/mo)

$1,700/mo

$1K/yr

Home Insurance (avg/yr)

$1K/yr

Crime & Safety

213

Violent Crime / 100K

197

1,368

Property Crime / 100K

1,617

Sex Offenders / 100K

341

134

Homeless / 100K

Healthcare

#19 of 50

Healthcare Quality Rank

#16 of 50

79 yrs

Life Expectancy

77.9 yrs

6.8%

Uninsured Rate

8.1%

Yes

Medicaid Expansion

Yes

Education

#2 of 50

K-12 Quality Rank

#10 of 50

School Choice / Vouchers

Childcare

$1,800/mo

Avg Infant Care / mo

$1,550/mo

Utilities & Daily Costs

$155/mo

Avg Energy Bill / mo

$140/mo

$640/mo

Avg Groceries / mo

$530/mo

#44 of 50

Road Quality Rank

#13 of 50

Social Policy

Gun Laws Grade

A-

D+6.0

2024 Presidential Margin

D+3.0

Category wins

New Jersey

Virginia

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