Richwood, NJ (08074) is an idyllic town located in Gloucester County. The median 2 bedroom rent for Richwood is $1,590 which is significantly higher than the US median of $1,430. Grocery costs are particularly high with a Grocery Cost Index of 104 compared to the US value of 100. Since Richwood has a small population, there are several local businesses that can help residents live more affordably such as Richwood Farm Market which offers quality produce at low prices. There is also an excellent selection of restaurants in the area that provide delicious meals at low prices. Residents must also take into account transportation costs when looking at overall cost of living in Richwood since public transport options are not always readily available and gas prices can be high. In general, though, the cost of living in Richwood is higher than that of the rest of the United States.
Richwood (zip 08074) has an unemployment rate of 7.3%. The US average is 6.0%.
Richwood (zip 08074) has seen the job market decrease by -5.9% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Richwood (zip 08074)
- The Sales Tax Rate for Richwood (zip 08074) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Richwood (zip 08074) 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 Richwood (zip 08074)
- The average income of a Richwood (zip 08074) resident is $29,749 a year. The US average is $37,638 a year.
- The Median household income of a Richwood (zip 08074) resident is $0 a year. The US average is $69,021 a year.