Franklin township (Somerset Cnty), NJ is a great place to live with plenty of job opportunities. The average rent for a two bedroom apartment is $2,160 while the US average is $1,430 and the grocery cost index in Franklin township is 105 versus 100 in the US. Local companies and employers include Johnson & Johnson, L’Oreal, Capgemini, Siemens Healthcare Diagnostics, and Covanta Energy Corporation. These large companies provide many job opportunities for people living in Franklin township. Additionally, there are many small businesses throughout the area, providing diverse employment opportunities. With its strong economy and low living costs, Franklin township (Somerset Cnty), NJ is an attractive place to live and work.
Franklin township (Somerset County) has an unemployment rate of 6.8%. The US average is 6.0%.
Franklin township (Somerset County) 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 Franklin township (Somerset County)
- The Sales Tax Rate for Franklin township (Somerset County) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Franklin township (Somerset County) 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 Franklin township (Somerset County)
- The average income of a Franklin township (Somerset County) resident is $41,073 a year. The US average is $28,555 a year.
- The Median household income of a Franklin township (Somerset County) resident is $99,271 a year. The US average is $69,021 a year.