07078 Short Hills, NJ is an affluent area located within the suburban region of Essex County. It is known for its convenient access to shops, restaurants, and entertainment. Residents enjoy a high quality of life due to the low crime rate and excellent educational system. The 2 bedroom rent in this area is $2,350 per month which is significantly higher than the US average of $1,430 per month. The grocery cost index here is 118 versus 100 in the US so residents can expect to pay slightly more for their grocery items. Local companies include Basking Ridge Country Club, Oak Street Securities Inc., and Spiro & Associates. Residents can benefit from the many cultural attractions such as The Newark Museum or take advantage of the outdoor activities at South Mountain Reservation Park. Many people also enjoy visiting Mall at Short Hills for exclusive shopping experiences and delicious dining options.
Short Hills (zip 07078) has an unemployment rate of 9.6%. The US average is 6.0%.
Short Hills (zip 07078) 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 20.9%, which is lower than the US average of 33.5%.
Tax Rates for Short Hills (zip 07078)
- The Sales Tax Rate for Short Hills (zip 07078) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Short Hills (zip 07078) 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 Short Hills (zip 07078)
- The average income of a Short Hills (zip 07078) resident is $102,779 a year. The US average is $28,555 a year.
- The Median household income of a Short Hills (zip 07078) resident is $250,001 a year. The US average is $69,021 a year.