The city of Princeton, NJ (08542) is a popular area for people looking to rent an apartment. The average 2 bedroom rent there is $2,030, which is significantly higher than the US average of $1,430. This area is also relatively expensive to live in terms of groceries — with a Grocery Cost Index of 114 compared to 100 in the US.
Princeton's location near major highways and universities makes it an attractive destination for businesses. Companies located in Princeton include Johnson & Johnson's World Headquarters, Bloomberg LP, Dow Jones & Company Inc., Merck & Co., The Bank of New York Mellon Corporation, Bristol-Myers Squibb Company, and QBE Insurance Corporation. Many other small businesses have also opened up shop here as well due to the strong economic atmosphere created by these established companies.
Princeton (zip 08542) has an unemployment rate of 3.6%. The US average is 6.0%.
Princeton (zip 08542) has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 43.3%, which is higher than the US average of 33.5%.
Tax Rates for Princeton (zip 08542)
- The Sales Tax Rate for Princeton (zip 08542) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Princeton (zip 08542) 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 Princeton (zip 08542)
- The average income of a Princeton (zip 08542) resident is $38,985 a year. The US average is $28,555 a year.
- The Median household income of a Princeton (zip 08542) resident is $121,103 a year. The US average is $69,021 a year.