Newark, NJ's 07102 zip code is a great place to live for those looking for an affordable lifestyle without sacrificing convenience. With a two-bedroom rental price of $1,350, it's slightly lower than the national average of $1,430. The Grocery Cost Index in 07102 Newark is also more favorable than the national average at 105 versus 100. This makes it easier for residents to stretch their budgets even further in this lively city. Newark is home to many big companies like Prudential Financial and Panasonic North America making it an ideal destination for job seekers looking to kickstart their career. At the same time, there are plenty of local businesses and eateries that keep the culture alive in this vibrant city. All in all, living in 07102 Newark offers a good balance between affordability and access to amenities, making it an excellent option for those seeking a cost-effective lifestyle.
Newark (zip 07102) has an unemployment rate of 13.0%. The US average is 6.0%.
Newark (zip 07102) has seen the job market decrease by -7.3% over the last year. Future job growth over the next ten years is predicted to be 18.1%, which is lower than the US average of 33.5%.
Tax Rates for Newark (zip 07102)
- The Sales Tax Rate for Newark (zip 07102) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Newark (zip 07102) 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 Newark (zip 07102)
- The average income of a Newark (zip 07102) resident is $25,931 a year. The US average is $37,638 a year.
- The Median household income of a Newark (zip 07102) resident is $32,375 a year. The US average is $69,021 a year.