New Milford, NJ is a vibrant town with an abundance of local businesses. The average two bedroom rent in New Milford is $1,790 while the national average for two bedroom rent is just $1,430. Additionally, the grocery cost index in New Milford is 106 compared to 100 in the US. This makes it a great place to live for those looking for an affordable option with plenty of amenities. Some local businesses include Towne Plaza Shopping Center, B&T Auto Body & Machine Shop, and Gino's Pizza and Italian Restaurant. With so many options to choose from, it's easy to find what you need in New Milford!
New Milford has an unemployment rate of 7.4%. The US average is 6.0%.
New Milford has seen the job market decrease by -8.2% over the last year. Future job growth over the next ten years is predicted to be 25.3%, which is lower than the US average of 33.5%.
Tax Rates for New Milford
- The Sales Tax Rate for New Milford is 6.6%. The US average is 7.3%.
- The Income Tax Rate for New Milford 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 New Milford
- The average income of a New Milford resident is $48,131 a year. The US average is $37,638 a year.
- The Median household income of a New Milford resident is $98,992 a year. The US average is $69,021 a year.