Medford, NJ (08055) is a popular suburb located in Southern New Jersey which is known for its quiet living. The 2 bedroom rent in Medford is $1,750 compared to the US average of $1,430 and the grocery cost index is 108 versus 100 in the US. As such it offers its residents a higher quality of life than other parts of the country and serves as an attractive option for those looking to settle in this area.
The township has several local companies such as First Choice Bank, Sun National Bank and PSE&G that cater to different needs of its residents. There are also various educational institutions located close by, such as Rutgers University, Rowan College at Burlington County and Camden County College that provide excellent learning opportunities. Moreover, easy access to public transportation is available via NJ Transit bus routes with direct links to Philadelphia and New York City. All these features make Medford an ideal place to live in.
Medford (zip 08055) has an unemployment rate of 6.4%. The US average is 6.0%.
Medford (zip 08055) 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 28.8%, which is lower than the US average of 33.5%.
Tax Rates for Medford (zip 08055)
- The Sales Tax Rate for Medford (zip 08055) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Medford (zip 08055) 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 Medford (zip 08055)
- The average income of a Medford (zip 08055) resident is $49,459 a year. The US average is $28,555 a year.
- The Median household income of a Medford (zip 08055) resident is $140,441 a year. The US average is $69,021 a year.