$36K In Annual Bills For Average Moorestown Household: Report
This article originally appeared on Moorestown, NJ Patch
By Josh Bakan
MOORESTOWN, NJ — The average Moorestown household spends $36,227 per year on bills — higher than the state and national averages — according to a new study.
A new report by payment network Doxo shows that the average American household spends $24,557 per year on the most important household bills. These include mortgage and rent payments, utility bills, insurance costs, car payments, phone bills, and other monthly costs.
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 household in America spends $2,046 per month on the 10 most common household bills, according to the report. The average monthly total comes to $3,019 in Moorestown and $2,727 in New Jersey.
“As consumers navigate their household bills in today’s volatile marketplace, billpayers may feel left in the dark, not fully understanding how much they are truly paying each month,” said Liz Powell, Doxo’s senior director of insights.
New Jersey is the third-most expensive state in the nation for household expenses, with expenses 33.2 percent more than the national average, Doxo’s analysis shows.
Here’s how Moorestown compares to the state and the U.S.:
Average monthly bills (all services):
- Moorestown: $3,019
- New Jersey: $2,727
- U.S.: $2,046
Average monthly mortgage bill(s):
- Moorestown: $2,879
- New Jersey: $2,312
- U.S.: $1,321
Average monthly rent bill(s):
- Moorestown: $1,231
- New Jersey: $1,496
- U.S.: $1,191
Average monthly auto-loan bill(s):
- Moorestown: $498
- New Jersey: $498
- U.S.: $467
Average monthly utility bill(s):
- Moorestown: $479
- New Jersey: $467
- U.S.: $351
Average monthly auto-insurance bill(s):
- Moorestown: $212
- New Jersey: $218
- U.S.: $207
Average monthly health-insurance bill(s):
- Moorestown: $117
- New Jersey: $117
- U.S.: $120
Average monthly phone bill(s):
- Moorestown: $187
- New Jersey: $131
- U.S.: $119
Average monthly cable and internet bill(s):
- Moorestown: $118
- New Jersey: $130
- U.S.: $118
Average monthly life-insurance bill(s):
- Moorestown: $91
- New Jersey: $91
- U.S.: $89
Average monthly alarm and security bill(s):
- Moorestown: $85
- New Jersey: $85
- U.S.: $84
You may explore the data at this link.