Martinsville, NJ is a great place to call home. It has an average two-bedroom rent that is well above the national average at $2,060 compared to the US average rent of $1,430. The grocery cost index in Martinsville is also higher than the national average at 107 versus 100. Popular companies in the area include Merrill Lynch, New Brunswick Power, RWJBarnabas Health, and Johnson & Johnson. All of these companies offer excellent job opportunities to local residents as they are some of the largest employers in New Jersey. With its high rental costs and grocery cost index, it's clear why so many people are drawn to Martinsville as a place to live.
Martinsville has an unemployment rate of 6.3%. The US average is 6.0%.
Martinsville 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 Martinsville
- The Sales Tax Rate for Martinsville is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Martinsville 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 Martinsville
- The average income of a Martinsville resident is $60,365 a year. The US average is $28,555 a year.
- The Median household income of a Martinsville resident is $177,045 a year. The US average is $69,021 a year.