Montgomery Village, MD is a vibrant community with a variety of local businesses and attractions. It is located in Montgomery County and has a population of around 33,000 people. The cost of living in Montgomery Village is slightly higher than the national average, with a two bedroom rent costing $1,670 compared to the US average of $1,430. Furthermore, the grocery cost index in Montgomery Village is 107 compared to the 100 in the US. There are many local companies located in Montgomery village including restaurants, banking institutions, and specialty stores. Popular restaurants include Chili's Grill & Bar and TGI Friday's while banking institutions such as Wells Fargo and Bank of America have branches here. Additionally, specialty stores like Home Depot and Marshalls can be found throughout Montgomery Village. All this makes it an attractive place for those looking for a convenient location with easy access to amenities at a slightly higher than normal cost of living.
Montgomery Village has an unemployment rate of 5.7%. The US average is 6.0%.
Montgomery Village has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 31.0%, which is lower than the US average of 33.5%.
Tax Rates for Montgomery Village
- The Sales Tax Rate for Montgomery Village is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Montgomery Village is 8.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Montgomery Village
- The average income of a Montgomery Village resident is $34,549 a year. The US average is $28,555 a year.
- The Median household income of a Montgomery Village resident is $84,362 a year. The US average is $69,021 a year.