Bogota, NJ is a vibrant town located close to the city of New York. It has a variety of local businesses, from grocery stores to clothing boutiques to specialty restaurants. The cost of living is slightly higher than in other areas due to the proximity to New York City; for example, 2 Bedroom rents cost $1,810 in Bogota compared to the US average of $1,430. Additionally, grocery costs are 6% higher in Bogota than the US average. However, many people choose to live in Bogota because it offers a much better quality of life than larger cities with its vibrant culture and community activities. Local companies such as Bogota Bagels and Antonio’s Italian Restaurant offer residents delicious food options at reasonable prices. In conclusion, although the cost of living in Bogota is slightly higher than other areas, many people choose to live there for its high quality of life and convenient access to local businesses.
Bogota has an unemployment rate of 7.4%. The US average is 6.0%.
Bogota has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 25.3%, which is lower than the US average of 33.5%.
Tax Rates for Bogota
- The Sales Tax Rate for Bogota is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Bogota 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 Bogota
- The average income of a Bogota resident is $30,011 a year. The US average is $28,555 a year.
- The Median household income of a Bogota resident is $104,949 a year. The US average is $69,021 a year.