Newton, NJ is a great place to live. Not only does it have an affordable cost of living, with 2 bedroom rent coming in at just $1,520 compared to the US average of $1,430, but also has a slightly higher than average Grocery Cost Index at 103 compared to 100 in the US. Newton is home to a variety of businesses as well. Popular companies include The Super Store - a grocery store that offers fresh produce and organic options, Good Eats Cafe - an all-day breakfast spot offering delicious meals for families on the go, and Wall Street Bank - a local bank that provides financial services for residents.
Newton has an unemployment rate of 7.7%. The US average is 6.0%.
Newton 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 Newton
- The Sales Tax Rate for Newton is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Newton 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 Newton
- The average income of a Newton resident is $28,439 a year. The US average is $28,555 a year.
- The Median household income of a Newton resident is $69,107 a year. The US average is $69,021 a year.