Madison, NJ (07940) is a vibrant town located in Morris County. A two-bedroom rental in the area averages around $2,250 per month, while the average rent for such an apartment nationwide is only $1,430. The Grocery Cost Index of Madison, NJ is 111 compared to 100 nationally. This makes it more expensive to buy groceries here than the national average.
The area offers many businesses and entertainment venues including The Plaza at Madison, which houses stores such as Macy's and Barnes & Noble Booksellers. Other popular companies in this vicinity include CVS Pharmacy, Dunkin Donuts, and Starbucks Coffee. There are also several restaurants to choose from including Madison Mexican Restaurant and Andale Mexican Grill - both favorites among locals and visitors alike. With its lively atmosphere and plenty of shopping and dining opportunities, Madison is an ideal place to call home.
Madison (zip 07940) has an unemployment rate of 6.2%. The US average is 6.0%.
Madison (zip 07940) 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 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Madison (zip 07940)
- The Sales Tax Rate for Madison (zip 07940) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Madison (zip 07940) 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 Madison (zip 07940)
- The average income of a Madison (zip 07940) resident is $73,985 a year. The US average is $37,638 a year.
- The Median household income of a Madison (zip 07940) resident is $152,469 a year. The US average is $69,021 a year.