Feeling poor? No wonder. According to statehealthfacts.org, a website sponsored by the Henry J. Kaiser Family Foundation, a New Jersey family of four needs to earn at leastto equal the earning power of 400 percent of the federal poverty level.
What’s more, that’s only in the parts of the state with the lowest cost of living. In the parts with the highest, the income figure is $123,966.
Actually, although New Jersey has one of the highest costs of living in the country, the variation across the state is rather modest compared with some states. In some parts of New York, for instance, that same family of four would only need to earn $92,732 to match the buying power of 400 percent of the federal poverty level. But in the places with the highest cost of living (presumably Manhattan), that same family of four would need to earn $216,989. Nationally, the median rate for a family of four is $97,000. In New Jersey, it is $121,250.
The states with a higher median rate than New Jersey were Alaska, California, Oregon, as well as the District of Columbia.