From Patch:
Morris Is Most Expensive County In NJ For Household Bills, Study Finds
A new study shows that Morris County residents are forking over more for their monthly bills on average than in any other county in the state.
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.
This 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 spends $25,513 per year, or 34 percent of their income, on the most common bills, the study found. doxoINSIGHTS included the following bills in its calculations: Mortgage and rent, utilities, car loans, mobile phone, cable and internet, home security, and coverage for auto, home, and life insurance.
In the Garden State, the average cost is higher – which may not come as a surprise to residents in the state with the highest property taxes in the nation. The average household in New Jersey was found to pay $2,802 per month, or $33,627 per year on bills.
The latest doxoINSIGHTS report says New Jersey residents’ bills are $8,114 higher per year than the U.S. average, which is actually a slight decrease from last year’s amount of $8,165. It still makes New Jersey the fourth-most expensive state when it comes to the average cost of bill payments, the study said.
Morris County residents have higher bills than the state average — and pay $15,009 more per year than the average U.S. citizen, the study said.
The average household in Morris County pays $3,377 per month, or $40,521 per year on bills, the study found. Most of this money goes to housing, with mortgages and rent eating up a majority of the cost. Per the study, the average monthly mortgage bill in Morris County is $2,996 compared to $1,403 nationally; and the average monthly rent bill is $1,923 in Morris County and $1,300 nationally.