Budd Lake, NJ is a town located in Morris County near other major towns like Parsippany and Dover. It is known for its beautiful views and its many recreational activities and lakes that make it popular with locals. The cost of living in Budd Lake is slightly higher than the US average, but still affordable. Specifically, rent for a two bedroom apartment can range around $1,450 compared to the US average of $1,430. Additionally, the grocery cost index in Budd Lake is 105 compared to 100 in the US. Companies that are located within Budd Lake include Alba Motors Inc., Crizal Inc., Morristown Auto Body Inc., and My Plumber Plus Inc., which all provide excellent services to local residents.
Budd Lake has an unemployment rate of 6.2%. The US average is 6.0%.
Budd Lake 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 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Budd Lake
- The Sales Tax Rate for Budd Lake is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Budd Lake 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 Budd Lake
- The average income of a Budd Lake resident is $43,557 a year. The US average is $28,555 a year.
- The Median household income of a Budd Lake resident is $97,728 a year. The US average is $69,021 a year.