Milford, NJ is a small town located in Hunterdon County with plenty of local businesses to explore. Within the town, there are many restaurants, a movie theater, shopping centers and other attractions that make Milford an ideal place to live and visit. There is also an average two-bedroom rent of $1,730 in Milford which is slightly higher than the US average of $1,430. Additionally, local grocery costs have been indexed at 105 versus 100 in the US which suggests that groceries are more expensive when compared to most parts of the country. Popular local companies include Milford Lumber Co., All About Lighting LLC, and Popcorn Haven Inc.
Milford has an unemployment rate of 5.9%. The US average is 6.0%.
Milford 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 22.4%, which is lower than the US average of 33.5%.
Tax Rates for Milford
- The Sales Tax Rate for Milford is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Milford 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 Milford
- The average income of a Milford resident is $40,782 a year. The US average is $28,555 a year.
- The Median household income of a Milford resident is $85,000 a year. The US average is $69,021 a year.