Independence, NJ is a vibrant and diverse town located in the northeast of the United States. The town is known for its affordability when it comes to rent with two bedroom apartments costing an average of $1,650 per month compared to the national average of $1,430. Grocery costs are also very reasonable in Independence with a grocery cost index of 106 compared to 100 in the US. Popular local companies that call Independence home include Larken Associates Real Estate Development, JLB Contracting Group, and C&H Landscaping & Design. All three offer quality services while promoting the local economy at the same time.
Independence has an unemployment rate of 7.0%. The US average is 6.0%.
Independence has seen the job market decrease by -0.1% over the last year. Future job growth over the next ten years is predicted to be 24.5%, which is lower than the US average of 33.5%.
Tax Rates for Independence
- The Sales Tax Rate for Independence is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Independence 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 Independence
- The average income of a Independence resident is $38,185 a year. The US average is $28,555 a year.
- The Median household income of a Independence resident is $94,034 a year. The US average is $69,021 a year.