Elizabeth, NJ is an attractive city to live in with its close proximity to New York City. Elizabeth has many amenities and attractions including a vibrant downtown filled with unique shops, restaurants, and entertainment venues. The two bedroom rent in Elizabeth is $1,430 which is the same as the US average. Additionally, the grocery cost index in Elizabeth is 104 versus 100 in the US. This proves that living costs are more or less on par with the rest of America. Several well-known local companies such as Wakefern Food Corporation, Union County College, Trinitas Regional Medical Center, and Sysco Corporation call Elizabeth home. All these factors make for a desirable place to live with a reasonable cost of living that's not far from major cities like New York City.
Elizabeth has an unemployment rate of 9.6%. The US average is 6.0%.
Elizabeth 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 20.6%, which is lower than the US average of 33.5%.
Tax Rates for Elizabeth
- The Sales Tax Rate for Elizabeth is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Elizabeth 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 Elizabeth
- The average income of a Elizabeth resident is $19,069 a year. The US average is $28,555 a year.
- The Median household income of a Elizabeth resident is $54,415 a year. The US average is $69,021 a year.