Norwood, NJ is a great place to live with a variety of amenities and opportunities. It has an average two bedroom rent of $2,320, which is higher than the average two bedroom rent in the US ($1,430). Additionally, the grocery cost index in Norwood is 108 versus 100 in the US making it slightly more expensive to purchase food. The town boasts many local businesses such as Norwood Pharmacy, S&S Hardware Store and Jones Auto Repair that have served the community for many years. There are also several popular restaurants such as La Bottega Deli and Peking Restaurant that offer delicious and affordable meals. For those who enjoy outdoor activities there are plenty of parks and trails nearby. All in all, Norwood is a great place to call home!
Norwood has an unemployment rate of 7.4%. The US average is 6.0%.
Norwood has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 25.3%, which is lower than the US average of 33.5%.
Tax Rates for Norwood
- The Sales Tax Rate for Norwood is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Norwood 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 Norwood
- The average income of a Norwood resident is $48,254 a year. The US average is $28,555 a year.
- The Median household income of a Norwood resident is $144,390 a year. The US average is $69,021 a year.