Hutchinson, NJ is a popular town with plenty of local businesses and an affordable cost of living. The average two bedroom rent in Hutchinson is $1,440 which is only slightly more expensive than the US average of $1,430. Additionally, the grocery cost index in Hutchinson is 102 versus 100 in the US, meaning it's just slightly higher than the national average.
In terms of local businesses, Hutchinson boasts several retail stores and restaurants such as Walgreens, CVS Pharmacy, Dollar Tree, PNC Bank, McDonalds, Burger King and Wendy’s. There are also many popular small businesses like Breslauer Bagel & Deli, Little Sicily Pizza and Subs and Joes Deli Market Place that add to the town's charm.
Overall, Hutchinson has a low cost of living perfect for anyone looking for reasonably priced housing options combined with excellent amenities.
Hutchinson has an unemployment rate of 7.0%. The US average is 6.0%.
Hutchinson has seen the job market decrease by -0.1% over the last year. Future job growth over the next ten years is predicted to be 24.5%, which is lower than the US average of 33.5%.
Tax Rates for Hutchinson
- The Sales Tax Rate for Hutchinson is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Hutchinson 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 Hutchinson
- The average income of a Hutchinson resident is $43,786 a year. The US average is $28,555 a year.
- The Median household income of a Hutchinson resident is $153,906 a year. The US average is $69,021 a year.