Last updated: 2025 BLS data · Page refreshed:
What does a Carpenters salary really buy you in New Jersey?
New Jersey is 8.8% pricier than the US averageData: BLS OEWS 2025 + BEA Regional Price Parities 2022 • Updated 2026-05-19
New Jersey's Regional Price Parity (RPP) is 108.8, meaning prices are 8.8% higher the national average. A Carpenters earning $64,010 in New Jersey has the equivalent purchasing power of $58,832 in an average-cost US state.
Every dollar goes further in low-cost states. Here is how each salary percentile compares after adjusting for New Jersey's cost of living.
| Percentile | Nominal Salary | COL-Adjusted | Difference |
|---|---|---|---|
| 10th Percentile (P10) | $43,680 | $40,147 | $-3,532 |
| 25th Percentile (P25) | $51,220 | $47,077 | $-4,142 |
| Median (P50) | $64,010 | $58,832 | $-5,177 |
| 75th Percentile (P75) | $80,430 | $73,924 | $-6,505 |
| 90th Percentile (P90) | $121,490 | $111,663 | $-9,826 |
While $64,010 sounds high, New Jersey's elevated cost of living erases 8% of that salary's purchasing power. Your real buying power is $58,832. Consider whether the higher pay offsets the higher costs.
New Jersey's RPP of 108.8 puts it 8.8% above the national baseline cost of living. A Carpenters needs that premium in nominal pay just to maintain the same purchasing power as an average-cost state.
After applying New Jersey's RPP, the $64,010 median salary translates to $58,833 in real terms — a 8.1% loss. That difference can cover several months of expenses over a year for a Carpenters.
New Jersey's rank of #30 of 51 states means real purchasing power for Carpenters trails the national half-way line.
Where does Carpenters salary stretch the furthest? Top 10 states ranked by COL-adjusted median salary.
New Jersey ranks #30 out of 51 states for Carpenters after cost-of-living adjustment.
How much do you actually take home? See Carpenters take-home pay in New Jersey after taxes →
A Carpenters in New Jersey earns a median salary of $64,010 per year. After adjusting for New Jersey's cost of living (RPP=108.8), the real purchasing power is $58,832 — a -8.1% difference.
New Jersey's cost of living is 8.8% higher than the national average according to the BEA Regional Price Parities (2022). The RPP index for New Jersey is 108.8 (US average = 100).
Regional Price Parities (RPPs) are price indexes published by the U.S. Bureau of Economic Analysis (BEA) that measure differences in price levels across states. They are expressed as a percentage of the national average (US = 100). Higher RPP means higher cost of living.
The adjusted salary is calculated as: Nominal Salary x (100 / RPP). For a Carpenters in New Jersey: $64,010 x (100 / 108.8) = $58,832. This represents what the salary would be worth in a state with average living costs.
Partially — a Carpenters's nominal salary of $64,010 in New Jersey has 8.1% less purchasing power due to higher living costs. The real value is $58,832. However, New Jersey may offer better career opportunities, networking, and industry access.
Some links are affiliate links. See our disclosure.