Raritan Borough is a small town in New Jersey that provides many amenities for residents. The average rent for a two bedroom apartment is $2,040 a month, which is higher than the current US average of $1,430. Additionally, the Grocery Cost Index in Raritan borough is 105 compared to 100 in the US. The local economy is vibrant and many popular businesses call Raritan Borough home. Notable companies include Garden State Tile, Johnsonburg Cheese, and Access Testing Services Inc. All three of these companies have been around for decades and are highly regarded by locals as well as people from nearby towns. People who live in Raritan Borough also benefit from its close proximity to major cities like New York City which makes commuting easy and convenient.
Raritan has an unemployment rate of 6.3%. The US average is 6.0%.
Raritan has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 23.7%, which is lower than the US average of 33.5%.
Tax Rates for Raritan
- The Sales Tax Rate for Raritan is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Raritan 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 Raritan
- The average income of a Raritan resident is $35,632 a year. The US average is $28,555 a year.
- The Median household income of a Raritan resident is $90,125 a year. The US average is $69,021 a year.