Medford, NJ is a charming town located in central New Jersey. It is home to a wide variety of companies and amenities that cater to the needs of its residents. Some of the popular local businesses include Laurel Hill Golf Club, BYOB Paint N Sip Studio, Medford Pharmacy, Primo Hoagies, Bistro 519 Eatery & Bar and many others. With its convenient location near major highways and proximity to surrounding towns like Mount Laurel and Cherry Hill, Medford has become an ideal place to live for those looking for suburban living with easy access to nearby cities. The cost of living in Medford is slightly higher than the national average, with an average two bedroom rent being $1,780 compared to $1,430 in the US as a whole. However, groceries are relatively more affordable here than other parts of the US thanks to a Grocery Cost Index rating of 108 compared to 100 nationally.
Medford has an unemployment rate of 6.4%. The US average is 6.0%.
Medford has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 28.8%, which is lower than the US average of 33.5%.
Tax Rates for Medford
- The Sales Tax Rate for Medford is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Medford 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 Medford
- The average income of a Medford resident is $48,995 a year. The US average is $28,555 a year.
- The Median household income of a Medford resident is $142,920 a year. The US average is $69,021 a year.