Franklin is a vibrant town located in 07416 Franklin, New Jersey. It is an ideal place to live for those looking for a small-town feel with close proximity to big city amenities. The average 2 bedroom rent in Franklin is $1,390 which is slightly lower than the US 2 bedroom average of $1,430.The Grocery Cost Index in Franklin is also 102 versus the US Grocery Cost Index of 100. There are many local companies in Franklin, including McDonald's, Target, and Duane Reade Pharmacy. Beyond these chain stores there are numerous small businesses such as restaurants, cafes, and gift shops that make up the unique character of this quaint town.
Franklin (zip 07416) has an unemployment rate of 7.7%. The US average is 6.0%.
Franklin (zip 07416) has seen the job market decrease by -0.8% over the last year. Future job growth over the next ten years is predicted to be 21.1%, which is lower than the US average of 33.5%.
Tax Rates for Franklin (zip 07416)
- The Sales Tax Rate for Franklin (zip 07416) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Franklin (zip 07416) 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 Franklin (zip 07416)
- The average income of a Franklin (zip 07416) resident is $30,506 a year. The US average is $28,555 a year.
- The Median household income of a Franklin (zip 07416) resident is $80,264 a year. The US average is $69,021 a year.