Elmwood Park, NJ is an idyllic suburb located near the Big Apple. It is known for its picturesque views, convenient public transportation, and thriving local establishments. Though prices for two-bedroom rental units in Elmwood Park may be higher than the US average at $2,170 per month, the cost of living is still relatively low with a grocery cost index of 106 versus 100 in the US. Plus, residents have access to all the amenities of a larger city with local companies such as High Neck Espresso and Café Bon Appétit, Elmwood Park Diner, and Propper Brothers Produce. With its easy-going atmosphere and close proximity to New York City, it's no surprise that so many people are drawn to this charming neighborhood.
Elmwood Park has an unemployment rate of 7.4%. The US average is 6.0%.
Elmwood Park 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 Elmwood Park
- The Sales Tax Rate for Elmwood Park is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Elmwood Park 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 Elmwood Park
- The average income of a Elmwood Park resident is $30,249 a year. The US average is $28,555 a year.
- The Median household income of a Elmwood Park resident is $75,091 a year. The US average is $69,021 a year.