New Providence, NJ is a borough located in Union County. It's a great place to live, work and raise a family. With an estimated population of 12,157 people, New Providence offers many housing and job opportunities. The average 2 bedroom rent here is $2,160 which is considerably higher than the US average of $1,430. Similarly the Grocery Cost Index in New Providence is 110 versus 100 in the US. There are several well-known businesses that have their offices in this city such as Nestle USA, KPMG LLP., Wakefern Food Corporation and Novartis International AG among others. With its close proximity to New York City and other big cities, it has become an attractive option for people wanting to commute.
New Providence has an unemployment rate of 8.0%. The US average is 6.0%.
New Providence has seen the job market decrease by -7.3% over the last year. Future job growth over the next ten years is predicted to be 22.3%, which is lower than the US average of 33.5%.
Tax Rates for New Providence
- The Sales Tax Rate for New Providence is 6.6%. The US average is 7.3%.
- The Income Tax Rate for New Providence 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 Providence
- The average income of a New Providence resident is $73,225 a year. The US average is $37,638 a year.
- The Median household income of a New Providence resident is $155,370 a year. The US average is $69,021 a year.