Startup Costs in New Jersey
New Jersey's location between New York and Philadelphia gives businesses access to two major metro markets. The state has high costs - above-average rents, a $15.49 minimum wage, and the highest top income tax rate in the region - but also has one of the highest median household incomes in the country. Jersey City and Newark are developing as more affordable alternatives to Manhattan for startups.
New Jersey (NJ) by the Numbers
$125
$75
10.75%
6.63%
$15.92/hr
1.18x
1.15x
1.20x
What New Jersey's Numbers Mean for Founders
- State income tax tops out at 10.75%, one of the higher rates in the country.
- Labor costs run 15% above the national average, so factor higher payroll into your first-year budget.
- Commercial rent sits 20% above the national average, especially in Trenton and the larger metros.
- Minimum wage is $15.92/hour - on the high end nationally, which lifts your entry-level labor costs.
New Jersey Cost Guides (10)
Bakery
Starting a bakery in New Jersey costs $17,500-$293,500. Full New Jersey cost breakdown with city com
Cleaning Business
New Jersey cleaning business startup costs: $1,800-$17,500. Complete guide to New Jersey licensing,
Coffee Shop
Starting a coffee shop in New Jersey costs $29,500-$352,500. Full New Jersey cost breakdown with cit
Dog Grooming Business
New Jersey dog grooming business startup costs: $6,000-$117,500. Complete guide to New Jersey licens
Food Truck
New Jersey food truck startup costs: $33,000-$134,000. Complete guide to New Jersey licensing, hidde
Gym
Starting a gym in New Jersey costs $58,500-$587,500. Full New Jersey cost breakdown with city compar
Landscaping Business
How much does it cost to start a landscaping business in New Jersey? Expect $6,000-$58,500. New Jers
Personal Training Studio
How much does it cost to start a personal training studio in New Jersey? Expect $23,500-$117,500. Ne
Pressure Washing Business
How much does it cost to start a pressure washing business in New Jersey? Expect $3,500-$23,500. New
Restaurant
Starting a restaurant in New Jersey costs $205,500-$881,000. Full New Jersey cost breakdown with cit