Wood-Ridge, NJ is a suburban town located in Bergen County, New Jersey, with a population of 8,000. Notable companies and institutions found here include Hackensack Meridian Health Palisades Medical Center, F&S Produce Company, and NorthStar Moving & Storage Inc. The cost of living in Wood-Ridge is higher than most places in the US; for example, rent for a two bedroom apartment is $2,090 compared to the nation's average of $1,430. Furthermore, the Grocery Cost Index stands at 106 versus 100 for the US as a whole. Despite this increase in expenses, it remains an attractive option for those looking to escape city life and enjoy the area's quiet appeal.
Wood-Ridge has an unemployment rate of 7.4%. The US average is 6.0%.
Wood-Ridge has seen the job market decrease by -8.2% over the last year. Future job growth over the next ten years is predicted to be 25.3%, which is lower than the US average of 33.5%.
Tax Rates for Wood-Ridge
- The Sales Tax Rate for Wood-Ridge is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Wood-Ridge 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 Wood-Ridge
- The average income of a Wood-Ridge resident is $53,485 a year. The US average is $37,638 a year.
- The Median household income of a Wood-Ridge resident is $123,184 a year. The US average is $69,021 a year.