The zip code 07106 Newark, NJ has an average 2 Bedroom Rent of $1,330 which is $100 cheaper than the nationwide US average of $1,430. Additionally, the Grocery Cost Index in 07106 Newark, NJ is 102 versus 100 in the US. While this may sound like a small change it can make a difference when looking at costs over long periods. There are many local businesses in 07106 Newark, NJ including Prudential Financial, Panasonic Corporation of North America and Audible Inc. as well as many other smaller companies such as Ironbound Film & Video Productions and Ray Catena Audi of Newark.
Newark (zip 07106) has an unemployment rate of 13.0%. The US average is 6.0%.
Newark (zip 07106) has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 18.1%, which is lower than the US average of 33.5%.
Tax Rates for Newark (zip 07106)
- The Sales Tax Rate for Newark (zip 07106) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Newark (zip 07106) 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 Newark (zip 07106)
- The average income of a Newark (zip 07106) resident is $19,341 a year. The US average is $28,555 a year.
- The Median household income of a Newark (zip 07106) resident is $43,288 a year. The US average is $69,021 a year.