Elizabeth, NJ (07202) is a pleasant city located within the New York metropolitan area. The 2 bedroom rent in Elizabeth, NJ is reasonably priced at $1,460, which is slightly higher than the US average of $1,430. Furthermore, groceries are 4% more expensive in Elizabeth than on a national level with an index score of 104 compared to 100. This cost difference can be attributed to some of the local shops and businesses that have made Elizabeth such a vibrant community. For instance, there is Central Bazaar with its Latin American imports or Home Garden Shop with its range of plants and gardening materials. A visit to The Butcher’s Block for fresh meats or Smiling Dragon for their delicious Chinese cuisine will also leave your wallet feeling light. All in all, this cost difference does not make living in Elizabeth any less attractive as it still provides good value for money.
Elizabeth (zip 07202) has an unemployment rate of 9.6%. The US average is 6.0%.
Elizabeth (zip 07202) 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 20.6%, which is lower than the US average of 33.5%.
Tax Rates for Elizabeth (zip 07202)
- The Sales Tax Rate for Elizabeth (zip 07202) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Elizabeth (zip 07202) 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 07202)
- The average income of a Elizabeth (zip 07202) resident is $24,713 a year. The US average is $37,638 a year.
- The Median household income of a Elizabeth (zip 07202) resident is $57,911 a year. The US average is $69,021 a year.