Cost Of Household Bills Rises: How Much Ocean City Residents Pay
This article originally appeared on Patch New Jersey
By Veronica Flesher
OCEAN CITY, NJ — Living in New Jersey isn’t cheap. And a new report reflects just how much more money Ocean City residents are spending compared to the average American household.
The doxoINSIGHTS 2024 U.S. Household Bill Pay Report found that consumers across the country saw the amount they pay to keep up on household bills increase 4 percent since last year.
The report, which reflects actual bill payment activity in more than 97 percent of U.S. zip codes, identifies the most and least expensive states for Americans to live in — based on average monthly spending on actual household bill payments.
The average American household spend $25,513 per year, or 34 percent of income on the ten most essential household bills, according to the report. Of course, that number is higher in New Jersey. Here, the average household was found to pay $2,802 per month, or $33,627 per year on bills.
And in Ocean City, that number is higher still, according to the report. The average family here is paying $2,978 per month, or $35,734 per year on bills, per the doxoINSIGHTS report. That’s about 36 percent of the annual household income of $85,818.
Most of that money is going towards mortgages and health insurance, which make up about half of all bill payments in Ocean City, according to the study. Household expenses here are 40.1 percent higher than the U.S. average, the study says.
The average monthly mortgage bill in Ocean City is $2,533, compared to $1,402 nationally, per the study. And health insurance bills here come to $483 monthly – compared to the national monthly average of $114.
You can explore more of the data here.