Newark, OH is a great place to live with many great amenities for its residents. It has two bedroom rent that is much lower than the US average at only $930, making it a great option for those looking to save money on their living expenses. The cost of groceries in Newark is also quite low, with a grocery cost index of 96 versus the US average of 100. Thus, living costs are generally much cheaper in Newark than they are elsewhere across the US.
In terms of local businesses and companies, Newark offers a good selection of stores and services. For example, some major retailers include Walmart, Kroger, Meijer, Lowe's Home Improvement and Target. There are plenty of restaurants such as Olive Garden, Red Lobster, Bob Evans and Applebee's as well as coffee shops like Starbucks and Dunkin Donuts. The city also has its own airport as well as various banks and financial institutions like PNC Bank and Chase Bank. All in all, there is plenty to do in Newark with plenty of opportunity to explore the area and take advantage of everything it has to offer.
Newark has an unemployment rate of 4.0%. The US average is 6.0%.
Newark has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 35.5%, which is higher than the US average of 33.5%.
Tax Rates for Newark
- The Sales Tax Rate for Newark is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Newark is 5.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Newark
- The average income of a Newark resident is $21,388 a year. The US average is $28,555 a year.
- The Median household income of a Newark resident is $52,570 a year. The US average is $69,021 a year.