New Bedford, MA (zip code 02746) is known for its thriving economy with a wide range of industries to draw from. The city is home to many companies such as Acushnet Company, Ocean Spray Cranberries, BayCoast Bank, and Newport Harbor Corporation. The average two bedroom rent in New Bedford is $1,130 which is significantly lower than the US average at $1,430. Additionally, the grocery cost index for New Bedford currently stands at 105 compared to 100 in the US. All of this paints a very attractive picture of economic stability in this area which has been bolstered by the presence of educational institutions like UMass Dartmouth and Bristol Community College. With plenty of job opportunities and resources available for residents, it’s no wonder why New Bedford continues to be an attractive destination for those looking to build a new life or career in Massachusetts.
New Bedford (zip 02746) has an unemployment rate of 10.2%. The US average is 6.0%.
New Bedford (zip 02746) has seen the job market decrease by -9.4% over the last year. Future job growth over the next ten years is predicted to be 32.7%, which is lower than the US average of 33.5%.
Tax Rates for New Bedford (zip 02746)
- The Sales Tax Rate for New Bedford (zip 02746) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for New Bedford (zip 02746) is 5.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for New Bedford (zip 02746)
- The average income of a New Bedford (zip 02746) resident is $21,563 a year. The US average is $37,638 a year.
- The Median household income of a New Bedford (zip 02746) resident is $37,565 a year. The US average is $69,021 a year.