Westfield, NJ Economy


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Westfield, NJ is a vibrant community located in Union County. The town offers an array of services and amenities, including a variety of local businesses like Westfield Eye Care, G&H Automotive Repair Services, and K&S Real Estate Group. There is also a downtown area filled with restaurants, shops, and entertainment venues. The cost of living in Westfield is slightly higher than the national average. For example, the typical rent for a two-bedroom apartment in Westfield is $2,110 while the US average rent for the same size unit is $1,430. Additionally, the Grocery Cost Index in Westfield is 111 while it's 100 nationally. Despite this slight difference in cost of living expenses, Westfield remains a desirable place to live due to its quality schools and convenient access to major cities.

Westfield has an unemployment rate of 4.9%. The US average is 6.0%.

Westfield 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 22.5%, which is lower than the US average of 33.5%.

Tax Rates for Westfield
- The Sales Tax Rate for Westfield is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Westfield 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 Westfield
- The average income of a Westfield resident is $64,374 a year. The US average is $28,555 a year.
- The Median household income of a Westfield resident is $185,319 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyWestfield, New JerseyUnited States
  4.96
  -7.3%-6.2%
  22.5%33.5%
  6.6%6.2%
  5.5%4.6%
  $89,226$37,638
  $185,319$69,021
  $225,846$85,028
  Population by Occupation
  0.0%1.2%
  0.1%0.5%
  2.6%6.8%
  9.2%10.0%
  2.7%2.5%
  9.3%11.0%
  1.4%4.8%
  2.7%0.8%
  3.6%1.9%
  18.2%4.7%
  3.2%1.9%
  15.3%7.6%
  0.2%0.1%
  2.5%4.2%
  9.4%9.3%
  8.7%14.0%
  2.7%2.1%
  2.9%7.0%
  3.3%4.8%
  1.9%4.7%
Reviews for Westfield
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Looking for a simpler life - taxes too high in New  More

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Over 13 years ago

As a resident for over 10 years, overall I have to say that Westfield is one of the most beautiful towns to live in within commuting distance to NYC! Here is a little  More

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Over 14 years ago

My family and I have been here for 11 years! Housing is expensive, but that is really the only downside (and snow!!!) Seriously, it is beautiful, clean, with great  More

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