Brooklyn, New York is a vibrant and bustling borough with many attractions. The two bedroom rent in Brooklyn is much higher than the US average at $2,520 per month. Despite this cost, people are drawn to the city for its unique culture and variety of local businesses. Companies like Barclays Center, Prospect Park Zoo, Brooklyn Bridge Park and the Brooklyn Museum offer something for everyone to enjoy. Additionally, the grocery cost index is 118 versus 100 in the US which adds to the overall cost of living in Brooklyn.
Brooklyn has an unemployment rate of 11.6%. The US average is 6.0%.
Brooklyn has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Brooklyn
- The Sales Tax Rate for Brooklyn is 8.9%. The US average is 7.3%.
- The Income Tax Rate for Brooklyn is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Brooklyn
- The average income of a Brooklyn resident is $25,932 a year. The US average is $28,555 a year.
- The Median household income of a Brooklyn resident is $67,753 a year. The US average is $69,021 a year.