Quality of Life Index (COLI series #9)

By |2019-03-21T14:45:53+00:00March 18th, 2019|Categories: Blog|Tags: , , , |

Comparing Morristown to other NJ Areas where COLI is calculated. Cost of Living Index Series Monmouth University tracks the quality of life in NJ through polling data.  Five questions are posed: Overall opinion of the state as a place to live. Ratings of one's hometown. Performance of the local schools. The quality of the local [...]

Property Taxes in Morris County – the highs and lows

By |2019-03-13T18:49:42+00:00March 13th, 2019|Categories: Blog|Tags: , |

The average property tax bill in 2017 (the last year for which we have data) is $10,262 in Morris County.  That is 4th from the top.  Essex County, at the top of the list and our next-door-neighbor, weighs in at $11,919.  (At the bottom of the list is Cumberland County with an average property tax [...]

Living Wage in Morris County (COLI series #8)

By |2019-03-14T13:06:06+00:00March 12th, 2019|Categories: Blog|Tags: , , |

ALICE = Asset Limited, Income Constrained, Employed in Morris County Minimum Wage in Morris County vs. Living Wage Cost of Living Index Series Gov. Phil Murphy signed new a bill that to gradually raise New Jersey's minimum wage. The current $8.85 statewide minimum wage will increase to $10/hr on July 1, 2019; then [...]

Cost to Purchase a New House (COLI series #7)

By |2019-02-24T20:33:27+00:00March 5th, 2019|Categories: Blog|Tags: , , , |

Brand New Construction Purchase Price for a 4-bedroom Home Morris County Cost of Living Series The house purchase item carries 70.9% of the weight in the Housing Index.  With the mortgage rate, housing (when purchased) is 19.90% of the weight for the Composite Index, making it by far the most heavily weighted item priced. The houses [...]

Rent for a New Apartment in Morristown (COLI series #6)

By |2019-03-18T13:26:57+00:00March 3rd, 2019|Categories: Blog|Tags: , , , |

Update 3/18: State-Level Cost of Living Indices my have meaning if your "state" is Washington, DC.  However, if your state is California, or even New Jersey or Massachusetts, putting all rents in a blender and producing one average has little predictive meaning.  That said, the small size of NJ and the wealth in pockets near [...]

Jersey Girls Don’t Pump Gas (COLI series #5)

By |2019-02-26T22:17:26+00:00February 25th, 2019|Categories: Blog|Tags: , , , , |

Jersey Drivers Don't Pump Gas Morris County Cost of Living Series Transportation costs factor heavily into the Cost of Living (COLI). So, we are tracking gasoline prices quarterly and entering them into our COLI index.  (Along with the cost of balancing a set of tires.)  Imagining that NJ has high gasoline pricing?  Not so, even [...]

Fun times in Morristown are often Free (COLI series #4)

By |2019-03-14T13:01:19+00:00February 21st, 2019|Categories: Blog|Tags: , , , |

Miscellaneous costs are not indicated in this logo Measuring the Cost of Good Times Morris County Cost of Living Series Let's take a closer look at the data used to compare Morristown's basic costs to the costs in Newark, Manhattan, San Diego and elsewhere.  We're not talking about subsistence living here.  Fun is [...]

Pricing Food in Morris County (COLI series #3)

By |2019-02-11T19:45:56+00:00February 18th, 2019|Categories: Blog|Tags: , , , , |

Measuring Food Costs in Morris County Morris County Cost of Living Series Let's take a closer look at the data used to compare Morristown's basic costs to (say) costs in Newark, Manhattan, San Diego and elsewhere.  The Council for Community and Economic Research has participants track the price 66 items.  We will be submitting data [...]

Why isn’t Morris County part of COLI? Bergen, Essex and Middlesex are! #2 in Series

By |2019-02-13T22:11:52+00:00February 13th, 2019|Categories: Blog|Tags: , , , |

Why Morristown and Not Morris County? Morris County Cost of Living Series The data used for NJ currently are these three urban areas:  Bergen-Essex, Newark and Middlesex.  When MCEDC decided to participate in the Cost of Living Index (COLI), we considered whether to put in Morris County or Morristown.  We couldn't do both. The choice [...]