Boonton Township, NJ is a small town located near Montclair and Newark in Essex County. It has a population of just over 7,500 people, making it an ideal place for those looking to escape the hustle and bustle of larger cities while still maintaining easy access to them. The town is known for its lower housing costs than surrounding towns with two bedroom apartments costing around $1,740 per month. In addition to being affordable to live in, Boonton Township is also known for its low cost of groceries compared to other parts of the US as their Grocery Cost Index is 107 versus 100 nationally.
Boonton Township is home to local businesses such as The Applegate Farm Market, Boonton Main Street and Shear Excellence Hair Salon. The town also has several parks including Macculloch Hall Historical Park and Gardens, Tourne County Park and Stephens State Park where outdoor enthusiasts can enjoy nature trails, fishing or picnicking. Residents can take advantage of a variety of nearby shopping districts such as Rockaway Townsquare Mall or explore New York City’s iconic attractions which are just an hour away by train.
Boonton township has an unemployment rate of 6.2%. The US average is 6.0%.
Boonton township 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 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Boonton township
- The Sales Tax Rate for Boonton township is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Boonton township 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 Boonton township
- The average income of a Boonton township resident is $61,817 a year. The US average is $28,555 a year.
- The Median household income of a Boonton township resident is $151,500 a year. The US average is $69,021 a year.