07648 Norwood, NJ is a great place to live for those looking for a suburban lifestyle. With an average two bedroom rent of $2,250, it is slightly more expensive than the US average of $1,430. However, groceries are less expensive in Norwood compared to the national index with an index of 108 compared to 100. Some of the local companies include The Bottle Shop Liquors, Norwood Market and Wine Cellar, and AT&T Store at Wireless Zone. These businesses offer a variety of products from groceries and beverages to the latest phones and accessories. No matter what your needs are, there is likely something here for you.
Norwood (zip 07648) has an unemployment rate of 7.4%. The US average is 6.0%.
Norwood (zip 07648) 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 25.3%, which is lower than the US average of 33.5%.
Tax Rates for Norwood (zip 07648)
- The Sales Tax Rate for Norwood (zip 07648) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Norwood (zip 07648) 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 Norwood (zip 07648)
- The average income of a Norwood (zip 07648) resident is $48,254 a year. The US average is $28,555 a year.
- The Median household income of a Norwood (zip 07648) resident is $144,390 a year. The US average is $69,021 a year.