Garwood, NJ is a small town located in Union County with a population of about 4,000. The cost of living is higher than the national average, with 2 bedroom rent costing $1,870 compared to $1,430 in the US and grocery costs index at 106 versus 100 in the US. Due to its proximity to major metropolitan areas such as Newark and New York City, many people choose to commute for work. There are several companies located in Garwood including J&L Electric Contractors Inc., Kostas Mechanical Contractor LLC and Good Shepherd Home Care Services. Additionally, there are many attractions that make Garwood attractive for those looking for a peaceful yet close-knit community such as Mount Carmel Church and the Greenbrook Park.
Garwood has an unemployment rate of 8.0%. The US average is 6.0%.
Garwood has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 22.3%, which is lower than the US average of 33.5%.
Tax Rates for Garwood
- The Sales Tax Rate for Garwood is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Garwood is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Garwood
- The average income of a Garwood resident is $38,803 a year. The US average is $28,555 a year.
- The Median household income of a Garwood resident is $92,981 a year. The US average is $69,021 a year.