Redwood City, CA 94062 is an attractive location for many due to its proximity to the Silicon Valley and its strong economy. The city has a 2 bedroom rent of $3,140 which is more expensive than the national average of $1,430 but still affordable. Additionally, grocery cost index in Redwood City is 122 versus 100 in the US making it slightly more expensive than most cities. Local companies such as Oracle, Electronic Arts, and Box Inc have offices located here making it an ideal place for those looking to work in tech and similar industries. The city also offers plenty of recreational activities such as The Fox Theatre, Edward L. Ryerson Community Park, and Arundel Park that make living here desirable.
Redwood City (zip 94062) has an unemployment rate of 4.4%. The US average is 6.0%.
Redwood City (zip 94062) has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 37.0%, which is higher than the US average of 33.5%.
Tax Rates for Redwood City (zip 94062)
- The Sales Tax Rate for Redwood City (zip 94062) is 8.8%. The US average is 7.3%.
- The Income Tax Rate for Redwood City (zip 94062) is 9.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Redwood City (zip 94062)
- The average income of a Redwood City (zip 94062) resident is $74,882 a year. The US average is $28,555 a year.
- The Median household income of a Redwood City (zip 94062) resident is $203,000 a year. The US average is $69,021 a year.