Lower, NJ is an attractive place to live due to its affordability. The average rent for a two bedroom is $1,560 in Lower, NJ, which is slightly higher than the national two bedroom rent of $1,430. Additionally, groceries are more expensive in Lower, NJ as the grocery cost index is 106 versus 100 nationally. Despite higher costs for certain expenses in Lower, NJ there are several companies that make it worth living there such as Prudential Financial, BASF Corporation and Honeywell. Prudential Financial provides financial advice and products such as insurance and investments while BASF Corporation manufactures chemicals and supplies industrial solutions. Honeywell offers aerospace services as well as products like security systems and climate control systems.
Lower has an unemployment rate of 12.5%. The US average is 6.0%.
Lower has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 19.1%, which is lower than the US average of 33.5%.
Tax Rates for Lower
- The Sales Tax Rate for Lower is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Lower 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 Lower
- The average income of a Lower resident is $28,250 a year. The US average is $28,555 a year.
- The Median household income of a Lower resident is $68,054 a year. The US average is $69,021 a year.