Waterford, NJ is a great place to live. It offers a variety of businesses, including top retail stores like Walmart and Target, as well as local restaurants such as Johnny's Pizza and The Café. With its close proximity to major highways and public transportation options, it's easy to get around. The cost of living in Waterford is higher than other areas in New Jersey due to the high rent prices and grocery cost index; for a 2 bedroom apartment rent averages $1,860 per month while the US average for the same size apartment is only $1,430. Grocery Cost Index in Waterford is 103 versus 100 in the US, making it slightly more expensive than other cities in New Jersey.
Waterford has an unemployment rate of 8.0%. The US average is 6.0%.
Waterford 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 27.8%, which is lower than the US average of 33.5%.
Tax Rates for Waterford
- The Sales Tax Rate for Waterford is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Waterford 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 Waterford
- The average income of a Waterford resident is $29,645 a year. The US average is $28,555 a year.
- The Median household income of a Waterford resident is $92,305 a year. The US average is $69,021 a year.