Passaic, NJ Economy

Passaic, NJ is a city located in the north-eastern United States. The cost of living in Passaic is slightly higher than the US average; 2 bedroom rent comes up to $1,500 compared to the national average of $1,430. The Grocery Cost Index for Passaic is 105 versus 100 in the US. Notable businesses in Passaic include Zyloware Eyewear, Elmwood Park Zoo, and Goya Foods. All together, these show that Passaic has a favorable environment for businesses and families due to its relative affordability and easy access to amenities.

Passaic has an unemployment rate of 11.4%. The US average is 6.0%.

Passaic has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.

Tax Rates for Passaic
- The Sales Tax Rate for Passaic is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Passaic 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 Passaic
- The average income of a Passaic resident is $15,193 a year. The US average is $28,555 a year.
- The Median household income of a Passaic resident is $49,436 a year. The US average is $69,021 a year.

Income by Population Percent

Economy	Passaic, New Jersey	United States
	11.4	6
	-8.3%	-6.2%
	20.5%	33.5%
	6.6%	6.2%
	5.5%	4.6%
	$21,152	$37,638
	$49,436	$69,021
	$46,594	$85,028
Population by Occupation
	0.2%	1.2%
	0.0%	0.5%
	7.9%	6.8%
	18.9%	10.0%
	3.9%	2.5%
	10.4%	11.0%
	7.4%	4.8%
	0.1%	0.8%
	0.9%	1.9%
	2.4%	4.7%
	1.2%	1.9%
	4.3%	7.6%
	0.0%	0.1%
	8.0%	4.2%
	8.2%	9.3%
	13.4%	14.0%
	1.0%	2.1%
	6.9%	7.0%
	3.5%	4.8%
	1.5%	4.7%