Somers Point, NJ is a small city located in Atlantic County near the Great Egg Harbor Bay. With a population of around 10,000 people, the city is well known for its peaceful neighborhoods and local businesses. It is home to many small businesses such as Farrell Real Estate Co., New Wave Transportation, and Marco's Pizza. The median rent for a two-bedroom apartment in Somers Point is $1,530 compared to the national average of $1,430. Additionally, the grocery cost index is 103 versus 100 in the US. This makes Somers Point slightly more expensive than some other parts of the country when it comes to groceries. All in all, Somers Point provides its residents with an ideal combination of affordability and convenience that make it one of the best places to live in New Jersey.
Somers Point has an unemployment rate of 11.6%. The US average is 6.0%.
Somers Point has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 19.5%, which is lower than the US average of 33.5%.
Tax Rates for Somers Point
- The Sales Tax Rate for Somers Point is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Somers Point 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 Somers Point
- The average income of a Somers Point resident is $27,463 a year. The US average is $28,555 a year.
- The Median household income of a Somers Point resident is $62,844 a year. The US average is $69,021 a year.