Morris Plains, NJ is a small borough with a population of 5,213 as of the 2010 census. The 2 Bedroom Rent in Morris Plains is $2,440 which is significantly higher than the US average of $1,430. In addition to rental costs being high, the Grocery Cost Index in Morris Plains is 107 compared to 100 in the US.
Despite the higher cost of living in Morris Plains, NJ there are still many great local businesses. Some major companies include FedEx Ground and Kessler Rehabilitation Center. There are also many stores such as Lina's Deli Groceries and Dave's Marketplace that provide residents with their grocery needs. All these businesses make up a vibrant community that thrives despite its high cost of living.
Morris Plains has an unemployment rate of 6.2%. The US average is 6.0%.
Morris Plains 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 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Morris Plains
- The Sales Tax Rate for Morris Plains is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Morris Plains 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 Morris Plains
- The average income of a Morris Plains resident is $51,551 a year. The US average is $28,555 a year.
- The Median household income of a Morris Plains resident is $131,731 a year. The US average is $69,021 a year.