Lakewood, NJ is a thriving suburban city located in the heart of Ocean County. It is known for its low living costs, with an average two-bedroom rent of $1,390 compared to the national average of $1,430. Additionally, grocery costs in Lakewood are 5% higher than the US average. The area also provides many employment opportunities with companies such as RWJBarnabas Health System and Schneider Electric offering competitive wages and benefits. Other large employers located nearby include United Parcel Service (UPS), Monmouth University, and the Ocean County Board of Social Services. With its affordable living costs and abundant job opportunities, Lakewood is an ideal location for those seeking a better quality of life.
Lakewood township has an unemployment rate of 7.5%. The US average is 6.0%.
Lakewood township has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 28.0%, which is lower than the US average of 33.5%.
Tax Rates for Lakewood township
- The Sales Tax Rate for Lakewood township is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Lakewood township 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 Lakewood township
- The average income of a Lakewood township resident is $14,796 a year. The US average is $28,555 a year.
- The Median household income of a Lakewood township resident is $53,517 a year. The US average is $69,021 a year.