Elwood, NJ is a great place to live for those looking for a peaceful and affordable living option. The two bedroom rent in Elwood costs approximately $1,550 per month which is significantly less than the national average of $1,430. Additionally, groceries in Elwood are more expensive than the US average with a grocery cost index of 103 versus 100 in the US. The main attractions in Elwood include the local golf courses and parks that offer plenty of outdoor recreational activities for its residents. Popular local businesses in Elwood include Sal's Pizza, Leonardo's Italian Restaurant, Hansel & Gretel Bakery, and Pacer's Bar & Grill. All in all, Elwood provides a small town feel with affordable living options making it an ideal place to live for those seeking peace and quiet without having to sacrifice convenience or comfort.
Elwood has an unemployment rate of 11.6%. The US average is 6.0%.
Elwood has seen the job market decrease by -14.0% 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 Elwood
- The Sales Tax Rate for Elwood is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Elwood 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 Elwood
- The average income of a Elwood resident is $34,651 a year. The US average is $37,638 a year.
- The Median household income of a Elwood resident is $73,424 a year. The US average is $69,021 a year.