Ellicott City, MD is a vibrant, diverse community located in the heart of Maryland. It is home to many businesses, including tech startups, health care providers, retail stores, restaurants and more. The cost of living here is slightly higher than the U.S. average due to its strong economy and high housing costs. The average two-bedroom apartment rent in Ellicott City is $2,100 compared to the U.S. average of$1,430. Additionally, the Grocery Cost Index in Ellicott City is 108 compared to 100 in the US on average. Therefore, living in Ellicott City may be slightly more expensive than other parts of Maryland and the country as a whole but offers a variety of services and amenities that make it worth it for many people.
Ellicott City has an unemployment rate of 4.5%. The US average is 6.0%.
Ellicott City has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 34.2%, which is higher than the US average of 33.5%.
Tax Rates for Ellicott City
- The Sales Tax Rate for Ellicott City is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Ellicott City 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 Ellicott City
- The average income of a Ellicott City resident is $48,999 a year. The US average is $28,555 a year.
- The Median household income of a Ellicott City resident is $136,234 a year. The US average is $69,021 a year.