Franklin borough, NJ is an attractive area to live in with many local amenities to enjoy. It has a low cost of living compared with the US average, making it an affordable option for renters. The median 2 bedroom rent in Franklin borough is $1,420 which is significantly lower than the US rate of $1,430. Additionally, the Grocery Cost Index in Franklin borough is 102 versus 100 nationally. This makes grocery shopping more budget friendly for residents.
The area remains vibrant thanks to local businesses like Valley National Bank and Franklin Car Wash. There are also plenty of entertainment options available including Sky Zone Trampoline Park and Muse Paintbar. The nearby Natures Path Wildlife Conservation Institute offers educational opportunities for those interested in learning more about wildlife and conservation efforts in the area.
Franklin borough (Sussex County) has an unemployment rate of 7.7%. The US average is 6.0%.
Franklin borough (Sussex County) has seen the job market decrease by -0.8% over the last year. Future job growth over the next ten years is predicted to be 21.1%, which is lower than the US average of 33.5%.
Tax Rates for Franklin borough (Sussex County)
- The Sales Tax Rate for Franklin borough (Sussex County) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Franklin borough (Sussex County) 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 Franklin borough (Sussex County)
- The average income of a Franklin borough (Sussex County) resident is $30,210 a year. The US average is $28,555 a year.
- The Median household income of a Franklin borough (Sussex County) resident is $76,729 a year. The US average is $69,021 a year.