Margate City, NJ is a vibrant city with plenty of opportunities for work and leisure. It is well-known for its beaches and boardwalks that have been popular attractions for decades. Renting a two-bedroom apartment in Margate City, NJ runs about $1,800 which is slightly higher than the US average of $1,430. The cost of groceries in Margate City is also slightly higher than the US average at 112 versus 100. Local businesses in Margate City are varied and include restaurants such as Chatterbox Cafe, Big Eye Tuna Fish Sandwiches & Market, and Famous Fat Dave's; shops such as Playa Boutique and Lotus Sky; and attractions like Lucy The Elephant and Absecon Lighthouse. Overall, the cost of living in Margate City is slightly more expensive compared to the rest of the United States.
Margate City has an unemployment rate of 11.6%. The US average is 6.0%.
Margate City has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 19.5%, which is lower than the US average of 33.5%.
Tax Rates for Margate City
- The Sales Tax Rate for Margate City is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Margate City 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 Margate City
- The average income of a Margate City resident is $51,880 a year. The US average is $28,555 a year.
- The Median household income of a Margate City resident is $106,053 a year. The US average is $69,021 a year.