Elizabeth, NJ (07201) is a vibrant city full of diverse culture and opportunity. The 2 bedroom rent here is $1,390 per month, which is slightly more expensive than the US average of $1,430. This higher rent can be attributed to the fact that Elizabeth has many large companies, such as Amazon and FedEx Ground, which have increased demand for housing in the area. Additionally, Elizabeth has a Grocery Cost Index of 104 versus 100 in the US overall. This means that grocery prices are slightly higher than average due to both increased demand from businesses and an influx of tourists from other nearby cities. Altogether, this makes living expenses slightly higher than average in Elizabeth compared to other parts of the nation.
Elizabeth (zip 07201) has an unemployment rate of 9.6%. The US average is 6.0%.
Elizabeth (zip 07201) has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 20.6%, which is lower than the US average of 33.5%.
Tax Rates for Elizabeth (zip 07201)
- The Sales Tax Rate for Elizabeth (zip 07201) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Elizabeth (zip 07201) 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 Elizabeth (zip 07201)
- The average income of a Elizabeth (zip 07201) resident is $18,279 a year. The US average is $28,555 a year.
- The Median household income of a Elizabeth (zip 07201) resident is $52,768 a year. The US average is $69,021 a year.