The Bronx, NY is a vibrant and diverse borough of New York City. It has a population of 1.4 million residents who enjoy the many amenities that it has to offer. The cost of living in The Bronx is relatively affordable compared to the rest of the US; for example, 2 bedroom rent in The Bronx is $2,280 which is $850 more than the US average which stands at $1,430. Furthermore, the Grocery Cost Index in The Bronx is 113 versus 100 in the US.
The Bronx offers plenty of businesses and local establishments you can visit that offer different services and products to choose from. Local companies include T-Mobile, Bank of America, Macy's, Target, CVS Pharmacy as well as numerous restaurants ranging from fast food outlets such as McDonald's to fine dining establishments such as Red Rooster Harlem or Rao's Italian restaurant. There are also plenty of entertainment options including the Bronx Zoo and Yankee Stadium which attract millions of visitors every year.
Bronx has an unemployment rate of 15.3%. The US average is 6.0%.
Bronx has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 29.0%, which is lower than the US average of 33.5%.
Tax Rates for Bronx
- The Sales Tax Rate for Bronx is 8.9%. The US average is 7.3%.
- The Income Tax Rate for Bronx is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Bronx
- The average income of a Bronx resident is $18,269 a year. The US average is $28,555 a year.
- The Median household income of a Bronx resident is $43,726 a year. The US average is $69,021 a year.