Bernards, NJ is a suburban township located in Somerset County with a population of approximately 26,652. It is known to be one of the “Best Places to Live” in New Jersey. The town is home to many reputable companies such as Johnson & Johnson, Bausch Health, Novo Nordisk and Bed Bath & Beyond. Bernards has an average 2 bedroom rent of $2,630 which is significantly higher than the national average 2 bedroom rent at $1,430. Additionally, the Grocery Cost Index for Bernards is 110 compared to 100 nationally; meaning grocery items in Bernards tend to be more expensive than other areas in US. All factors considered Bernards offers an excellent quality of life with higher costs of living when compared to the US on average.
Bernards has an unemployment rate of 5.0%. The US average is 6.0%.
Bernards 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 24.4%, which is lower than the US average of 33.5%.
Tax Rates for Bernards
- The Sales Tax Rate for Bernards is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Bernards 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 Bernards
- The average income of a Bernards resident is $67,750 a year. The US average is $28,555 a year.
- The Median household income of a Bernards resident is $160,286 a year. The US average is $69,021 a year.