Wayne Residents Spend Almost $3,300 A Month On Household Bills: Study

WAYNE, NJ — Paying the bills costs the average Wayne resident almost $500 more per month than the state average, even though the amount has gone down slightly, according to a recent report by payment network doxoINSIGHTS.

Doxo's "Cost of Bills Index" found that the average household in New Jersey pays $2,802 in monthly expenses, or about $33,627 per year.

That's 32 percent higher than what the average American household pays for essential bills —including mortgage and rent payments, utility bills, insurance costs, car payments, phone bills, cable and internet subscriptions, and other monthly costs. Doxo's study found that the nationwide average is about about $2,162 per month, or $25,513 per year, for these bills.

Their 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.

Wayne residents pay even more per month than the state average, according to the Cost of Bills Index. The average household here pays $3,292 per month, or $39,500 per year, on bills, which is 55 percent higher than the national average. This makes Wayne the 30th most expensive community in New Jersey for household bills, the data shows.

This amount is a decrease from last year's report, which said the average household in Wayne pays $3,321 per month, or $39,847 per year on bills and had the township as the 20th most expensive community in the state.

And when adjusted for income, Wayne's monthly expenses are 22 percent less than the national average (the study has the average household income in the township listed at $147,740).

Mortgage payments make up about 50 percent of the average Wayne resident's monthly bills, at more than double the national average. Township residents pay more than the national average for life insurance, alarms and security, cable and internet, mobile phones, auto insurance, utilities, auto loans, and monthly rent. The only place where Wayne's bills are lower is in the health insurance category.

Doxo analysts also say that the percentage of household income “provides a more proportional look at bill spending in a particular location.”

Their report shows that the average American household pays 34 percent of its income on the most important bills, whereas Wayne residents pay a smaller share, at 27 percent.