Rumson, NJ is an affluent community located in Monmouth County. It is a desirable suburb due to its close proximity to New York City and beautiful coastline views. The cost of living in Rumson is high; the average monthly rent for a two bedroom apartment is $1,990 compared to the national average of $1,430. Additionally, the Grocery Cost Index is 114, significantly higher than the national average of 100.
Rumson has many established businesses such as Rumson Wine & Spirits Co., Robinson's Hardware & Home Center, and Thorne Brothers Marina & Yacht Sales Ltd. These local companies provide jobs and support for members of the community and help to boost Rumson's economy. Despite its high cost of living, Rumson offers its residents a safe environment with plenty of opportunities for employment and recreation.
Rumson has an unemployment rate of 6.8%. The US average is 6.0%.
Rumson has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 26.8%, which is lower than the US average of 33.5%.
Tax Rates for Rumson
- The Sales Tax Rate for Rumson is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Rumson 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 Rumson
- The average income of a Rumson resident is $91,785 a year. The US average is $28,555 a year.
- The Median household income of a Rumson resident is $239,188 a year. The US average is $69,021 a year.