Red Bank, NJ is a vibrant and bustling town located just south of the Raritan River in Monmouth County. The cost of living here is slightly higher than the US average due to its 2 bedroom rent being $1,740 compared to the US average of $1,430. Additionally, grocery costs are also higher with Red Bank having an index of 106 compared to 100 in the US. Despite this increase in cost many people choose to live or visit Red Bank as it has a vast array entertainment options. Popular local companies include Two River Theater, Count Basie Center for the Arts, Jay & Silent Bob’s Secret Stash Comics and Collectibles Store and dozens of other dining and shopping options.
Red Bank has an unemployment rate of 6.8%. The US average is 6.0%.
Red Bank has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 26.8%, which is lower than the US average of 33.5%.
Tax Rates for Red Bank
- The Sales Tax Rate for Red Bank is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Red Bank 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 Red Bank
- The average income of a Red Bank resident is $37,373 a year. The US average is $28,555 a year.
- The Median household income of a Red Bank resident is $80,781 a year. The US average is $69,021 a year.