Newfield, NJ is a suburban town with a population of about 7,000 people located in the southern part of the state. It is home to several major companies like KPMG, Eversource Energy, and UnitedHealth Group. In terms of rental costs for two bedrooms, Newfield comes in at $1,740 while the rest of the US average sits around $1,430. Similarly the grocery cost index in Newfield is 103 versus 100 for the rest of the country. This means that groceries in Newfield are slightly more expensive than those sold nationwide. All in all, Newfield offers a great quality of life with its close proximity to large corporations and its low cost of living overall.
Newfield has an unemployment rate of 7.3%. The US average is 6.0%.
Newfield has seen the job market decrease by -5.9% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Newfield
- The Sales Tax Rate for Newfield is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Newfield 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 Newfield
- The average income of a Newfield resident is $41,325 a year. The US average is $37,638 a year.
- The Median household income of a Newfield resident is $102,829 a year. The US average is $69,021 a year.