Peapack and Gladstone, NJ is a town located in Somerset County, NJ. This small and quaint town has a lot to offer with its charm and character. It offers quality of life with top notch schools, plenty of parks and recreation activities, as well as great restaurants and shops. There are many local companies that provide good jobs in the area such as JCPenney, Honeywell Aerospace, Oticon USA Inc., General Motors, Mercedes-Benz USA LLC, BMW North America LLC among many others. In addition to these job opportunities, the cost of living is relatively low when compared to other places in New Jersey with an average two bedroom rent costing $2190 while the US average is only $1430. Furthermore, the grocery cost index in Peapack and Gladstone is also lower than the national average at 110 versus 100 respectively.
Peapack and Gladstone has an unemployment rate of 6.3%. The US average is 6.0%.
Peapack and Gladstone 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 23.7%, which is lower than the US average of 33.5%.
Tax Rates for Peapack and Gladstone
- The Sales Tax Rate for Peapack and Gladstone is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Peapack and Gladstone 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 Peapack and Gladstone
- The average income of a Peapack and Gladstone resident is $88,972 a year. The US average is $28,555 a year.
- The Median household income of a Peapack and Gladstone resident is $149,250 a year. The US average is $69,021 a year.