Paramus, NJ is a small town in Bergen County with a population of about 26,000. It's known for its shopping centers and malls as well as for its many corporate headquarters. Some of the local companies in Paramus include Toys “R”Us, Barnes & Noble, and Frito-Lay. The cost of living in Paramus is slightly higher than the US average due to rent prices; 2 bedroom rent in Paramus is $2,740 whereas the US 2 Bedroom Rent is $1,430. Additionally, groceries are slightly more expensive in Paramus with a grocery cost index of 109 versus 100 in the US.
Paramus has an unemployment rate of 6.9%. The US average is 6.0%.
Paramus has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 24.5%, which is lower than the US average of 33.5%.
Tax Rates for Paramus
- The Sales Tax Rate for Paramus is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Paramus 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 Paramus
- The average income of a Paramus resident is $41,157 a year. The US average is $28,555 a year.
- The Median household income of a Paramus resident is $130,446 a year. The US average is $69,021 a year.