A comprehensive side-by-side comparison of taxes, cost of living, housing, income, and insurance costs between Alaska and New Jersey.
State 1
AK
State 2
NJ
No Income Tax State
Alaska has no state income tax, which can mean significant savings for residents compared to New Jersey (10.75% top rate).
| Category | Alaska | New Jersey |
|---|---|---|
| Income Tax Rate | No Income TaxBetter | 10.75% |
| Property Tax Rate | 1.04%Better | 2.23% |
| Property Tax (on Median Home) | $3,536/yrBetter | $10,481/yr |
| Sales Tax Rate | No Sales TaxBetter | 6.63% |
| Cost of Living Index | 127 | 120Better |
| Median Home Price | $340,000Better | $470,000 |
| Median Household Income | $77,800 | $93,200Better |
| Avg. Auto Insurance | $1,480/yrBetter | $1,900/yr |
| Avg. Home Insurance | $1,200/yrBetter | $1,300/yr |
Index relative to national average (100)
Alaska
$340,000
Property Tax: $3,536/yr
New Jersey
$470,000
Property Tax: $10,481/yr
Alaska homes are 27.7% cheaper than New Jersey homes.
Alaska
$77,800
New Jersey
$93,200
New Jersey households earn $15,400 more per year on average.
| Type | Alaska | New Jersey | Difference |
|---|---|---|---|
| Auto Insurance | $1,480/yr | $1,900/yr | $420/yr |
| Home Insurance | $1,200/yr | $1,300/yr | $100/yr |
| Total Insurance | $2,680/yr | $3,200/yr | $520/yr |
Weighted score combining income tax, property tax, sales tax, cost of living, housing, insurance, and income. A lower score indicates better overall financial affordability.
Alaska
-27.1
More Affordable
New Jersey
94.6
Alaska offers lower income tax, lower property tax, lower sales tax, more affordable housing compared to New Jersey. Meanwhile, New Jersey offers lower cost of living, higher median income. Overall, Alaska edges ahead in our weighted financial comparison.
Alaska Advantages
New Jersey Advantages