Bloomfield, NJ is a city of approximately 47,000 people located in Essex County. Known for its vibrant culture and diverse communities, it is home to many businesses that contribute to its economic success. Popular local companies include Bloomfield College, Valco Boston Enterprises, The Hampshire Companies and McWhorter Technologies. With an average two-bedroom rent cost of $1,740 and a grocery cost index of 105, Bloomfield offers residents an affordable living experience with access to all the benefits of living in a big city.
Bloomfield has an unemployment rate of 9.6%. The US average is 6.0%.
Bloomfield 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 20.9%, which is lower than the US average of 33.5%.
Tax Rates for Bloomfield
- The Sales Tax Rate for Bloomfield is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Bloomfield 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 Bloomfield
- The average income of a Bloomfield resident is $33,302 a year. The US average is $28,555 a year.
- The Median household income of a Bloomfield resident is $86,264 a year. The US average is $69,021 a year.