Newark, NJ — income, home value, property tax, and sales tax.
In ZIP code 07041, near Newark, homes carry a median value of $961,700, and Essex County's 1.91% effective property tax rate translates into roughly $18,400 owed each year. Households here earn a median of $202,750, with per-capita income at $88,826, so that tax bill claims a meaningful share of earnings even at these income levels. The gap between home prices and what people bring in shapes who can settle here. Sales tax runs 6.62% on purchases, adding another layer to the overall cost of living in this area.
These numbers change over time. Get an update when they do — plus our recommendations.
No spam. Unsubscribe any time.