Camp Springs, MD is a great place to live for those who are looking for a diverse and vibrant community. This suburban town boasts a wide variety of local businesses such as grocery stores, restaurants, department stores, banks, medical offices and other services. The cost of living in Camp Springs is higher than the national average; however, rental rates for two bedroom apartments are only slightly above the US rate at $1,590 per month. Additionally, the grocery cost index is higher than in most areas of the country with an index of 107 versus 100 in the US. There have been many new developments taking place in Camp Springs including new housing complexes and shopping centers that offer a variety of amenities. Local businesses are thriving due to this increased population growth and development which has enhanced job opportunities in the area.
Camp Springs has an unemployment rate of 7.8%. The US average is 6.0%.
Camp Springs has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 34.4%, which is higher than the US average of 33.5%.
Tax Rates for Camp Springs
- The Sales Tax Rate for Camp Springs is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Camp Springs 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 Camp Springs
- The average income of a Camp Springs resident is $37,402 a year. The US average is $28,555 a year.
- The Median household income of a Camp Springs resident is $107,724 a year. The US average is $69,021 a year.