Lafayette, NJ is a small town located in Morris County. Its population is approximately 3,500 people and the town is rich in history and culture. Residents of Lafayette enjoy a much lower cost of living than the national average. The 2 Bedroom Rent in Lafayette is $1,390 while the US average stands at $1,430. The Grocery Cost Index for Lafayette is 105 as compared to 100 across the country.
The close-knit community of Lafayette has many local businesses that help to add to its charm and provide ample employment opportunities for its residents. Some of these businesses include Kaba Contracting, Inc., DRC Painting & Decorating Services Inc., CAA Appliance Service LLC, and JG Electrician LLC. These are just a few of the many excellent services that can be found in this friendly town.
Lafayette has an unemployment rate of 7.7%. The US average is 6.0%.
Lafayette has seen the job market decrease by -0.8% over the last year. Future job growth over the next ten years is predicted to be 21.1%, which is lower than the US average of 33.5%.
Tax Rates for Lafayette
- The Sales Tax Rate for Lafayette is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Lafayette 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 Lafayette
- The average income of a Lafayette resident is $39,524 a year. The US average is $28,555 a year.
- The Median household income of a Lafayette resident is $108,000 a year. The US average is $69,021 a year.