Mountain Lakes, NJ is a great place to live. It offers many attractions and companies, such as the Mountain Lakes Library, Mountain Park Lake, and the Mountain Lakes Nature Preserve. Companies in the area include Merck & Co., Inc., which is one of the largest pharmaceutical companies in the world, and PricewaterhouseCoopers LLP, an international professional services firm. The cost of living in Mountain Lakes is slightly higher than the US average for a two-bedroom rent at $1,740 per month, but the grocery cost index is only 112 compared to 100 in the US. This makes it an affordable option for those looking to relocate or buy property in this scenic location.
Mountain Lakes has an unemployment rate of 6.2%. The US average is 6.0%.
Mountain Lakes 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 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Mountain Lakes
- The Sales Tax Rate for Mountain Lakes is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Mountain Lakes 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 Mountain Lakes
- The average income of a Mountain Lakes resident is $78,906 a year. The US average is $28,555 a year.
- The Median household income of a Mountain Lakes resident is $250,001 a year. The US average is $69,021 a year.