Princeton Junction, NJ (08550) is a vibrant city with a lot to offer in terms of jobs, entertainment, and community. It has numerous local businesses that provide employment opportunities to residents and visitors alike. Companies such as Johnson & Johnson, Bloomberg L.P., and Dow Jones are just a few of the major employers located in Princeton Junction. In addition to all there is to do here, the cost of living is significantly higher than the national average due to the area's proximity to New York City and its diverse population. The 2-bedroom rent for Princeton Junction averages $2,510 compared to the US average of $1,430 while the Grocery Cost Index is 115 versus 100 in the US. This high cost of living reflects the great opportunities Princeton Junction has for both work and leisure.
Princeton Junction (zip 08550) has an unemployment rate of 3.7%. The US average is 6.0%.
Princeton Junction (zip 08550) has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 30.4%, which is lower than the US average of 33.5%.
Tax Rates for Princeton Junction (zip 08550)
- The Sales Tax Rate for Princeton Junction (zip 08550) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Princeton Junction (zip 08550) 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 Princeton Junction (zip 08550)
- The average income of a Princeton Junction (zip 08550) resident is $73,558 a year. The US average is $28,555 a year.
- The Median household income of a Princeton Junction (zip 08550) resident is $196,066 a year. The US average is $69,021 a year.