Oakland, NJ is a desirable place to live due to its reasonable rent and cost of living. With an average two bedroom rent of $2,130 which is still lower than the US average of $1,430. The grocery cost index in Oakland is also higher than the US with 107 compared to 100 in the US.
Living in Oakland gives residents access to many local businesses such as Target, Costco, Walmart and ShopRite for groceries. There are also many other local businesses such as Terhune Orchards & Winery for farm-fresh produce and seasonal events and Thunderbird Pizzeria for delicious pizza. Additionally there are plenty of opportunities for outdoor recreation with Ramapo Valley County Park just minutes away offering hiking trails and camping sites.
Oakland has an unemployment rate of 7.4%. The US average is 6.0%.
Oakland 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 Oakland
- The Sales Tax Rate for Oakland is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Oakland 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 Oakland
- The average income of a Oakland resident is $43,928 a year. The US average is $28,555 a year.
- The Median household income of a Oakland resident is $152,283 a year. The US average is $69,021 a year.