08402 Margate City, NJ is a thriving community located on the New Jersey shoreline. It has a lot to offer with a two bedroom rent of $1,840, which is lower than the national average of $1,430. Additionally, grocery cost index in this area is 112 compared to 100 in the US. This city features many local businesses and attractions for residents and visitors alike. There are many restaurants that offer delicious local cuisine including The Oceanclub on the bay, Island Grill & Tiki Bar on Longport beachfront and Tony's Baltimore Grill. Residents can enjoy activities such as visiting Lucy the Elephant landmark or take a stroll along Ventnor Pier to watch dolphins and other marine life. Education opportunities are also available with schools such as Margate High School and Holy Trinity Interparochial Regional School allowing children excellent educational opportunities close to home.
Margate City (zip 08402) has an unemployment rate of 11.6%. The US average is 6.0%.
Margate City (zip 08402) has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 19.5%, which is lower than the US average of 33.5%.
Tax Rates for Margate City (zip 08402)
- The Sales Tax Rate for Margate City (zip 08402) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Margate City (zip 08402) 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 Margate City (zip 08402)
- The average income of a Margate City (zip 08402) resident is $51,880 a year. The US average is $28,555 a year.
- The Median household income of a Margate City (zip 08402) resident is $106,206 a year. The US average is $69,021 a year.