Franklin Center, NJ is a great place to live with plenty of amenities and attractions. Located in Somerset County, the area offers a rich history dating back to 1681 when it was founded. Residents can enjoy easy access to major highways as well as a variety of local businesses. Some popular companies that have headquarters in Franklin Center include Johnson & Johnson, Novo Nordisk and AT&T. In addition to a thriving business climate, the community also offers plenty of activities for residents to enjoy. There are many parks with plenty of outdoor recreation options like biking trails, fishing spots and camping grounds. For those looking for more urban activities there are plenty of restaurants, bars and shops all within walking distance. With 2 Bedroom Rent averaging $2,100 per month and a Grocery Cost Index of 105 compared to 100 nationally, the cost of living in Franklin Center is slightly higher than the US average but still relatively affordable.
Franklin Center has an unemployment rate of 6.3%. The US average is 6.0%.
Franklin Center 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 23.7%, which is lower than the US average of 33.5%.
Tax Rates for Franklin Center
- The Sales Tax Rate for Franklin Center is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Franklin Center 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 Franklin Center
- The average income of a Franklin Center resident is $53,609 a year. The US average is $28,555 a year.
- The Median household income of a Franklin Center resident is $118,560 a year. The US average is $69,021 a year.