Cherry Hill, NJ is a great place to live with many amenities and job opportunities. It is home to many major companies such as TD Bank, Subaru of America, Lockheed Martin and Wawa. The cost of living is higher than the national average, with 2 bedroom rent coming in at $2,000 versus the US average of $1,430. Grocery costs are also higher in Cherry Hill compared to the US with an index of 106 versus 100. With its convenient location and vibrant economy it is easy to see why so many families flock to this city for a better life.
Cherry Hill has an unemployment rate of 5.0%. The US average is 6.0%.
Cherry Hill has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Cherry Hill
- The Sales Tax Rate for Cherry Hill is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Cherry Hill 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 Cherry Hill
- The average income of a Cherry Hill resident is $42,948 a year. The US average is $28,555 a year.
- The Median household income of a Cherry Hill resident is $107,341 a year. The US average is $69,021 a year.