Palmyra, NJ is a small town located in Burlington County with an estimated population of 7,000 people. This quaint town has become a popular option for those seeking to live close to Philadelphia but without the hustle and bustle of city life. The cost of renting a two-bedroom home is slightly higher than the national average at $1,730, however grocery costs are lower than the US index at 102 points versus 100 points. Local businesses in Palmyra include M&M Pizza & Grill, Oasis Cafe and Bar, Palmyra Family Pharmacy and A Little Taste of Italy. These businesses offer delicious options for food and services for residents and visitors alike.
Palmyra has an unemployment rate of 6.4%. The US average is 6.0%.
Palmyra has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 28.8%, which is lower than the US average of 33.5%.
Tax Rates for Palmyra
- The Sales Tax Rate for Palmyra is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Palmyra 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 Palmyra
- The average income of a Palmyra resident is $34,201 a year. The US average is $28,555 a year.
- The Median household income of a Palmyra resident is $78,736 a year. The US average is $69,021 a year.