Hopatcong, NJ is an up-and-coming region of New Jersey with a growing population and a vibrant local economy. The cost of living is higher than the national average, with a two bedroom rent amounting to $1,760. Grocery costs are also higher than the US average, with an index of 103 versus 100 in the US. This city is home to several successful companies such as Sparta Electronics Incorporated and Visiting Nurse Association that have significantly contributed to the local economy. Sparta Electronics Incorporated specializes in manufacturing electronic components for various industries and employs numerous professionals from the region while Visiting Nurse Association provides comprehensive healthcare services to individuals requiring medical care at home. Both companies have been essential in providing employment opportunities to residents of Hopatcong and have helped create a thriving economic atmosphere for this small town.
Hopatcong has an unemployment rate of 7.7%. The US average is 6.0%.
Hopatcong has seen the job market decrease by -0.8% over the last year. Future job growth over the next ten years is predicted to be 21.1%, which is lower than the US average of 33.5%.
Tax Rates for Hopatcong
- The Sales Tax Rate for Hopatcong is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Hopatcong 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 Hopatcong
- The average income of a Hopatcong resident is $37,292 a year. The US average is $28,555 a year.
- The Median household income of a Hopatcong resident is $99,177 a year. The US average is $69,021 a year.