Laurel, MD is an attractive option for many people looking to relocate due to its low cost of living. The 2 Bedroom rent in Laurel, MD is $1,760 compared to the US average of $1,430. Not only does this make it more affordable than other areas, but the grocery cost index in Laurel is also 108 versus 100 in the US. Those looking to move here will benefit from a number of local companies that have established their presences in this vibrant area. Companies such as FireEye, Unisys Corporation and WSSC Water are just a few of the organizations located near Laurel. Living here also provides easy access to parks and recreation facilities, including Granville Gude Park and Lake Artemesia Natural Area. With its inexpensive lifestyle options and close proximity to popular businesses, Laurel is an ideal choice for anyone seeking a new home.
Laurel has an unemployment rate of 9.0%. The US average is 6.0%.
Laurel 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 32.1%, which is lower than the US average of 33.5%.
Tax Rates for Laurel
- The Sales Tax Rate for Laurel is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Laurel 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 Laurel
- The average income of a Laurel resident is $34,257 a year. The US average is $28,555 a year.
- The Median household income of a Laurel resident is $85,615 a year. The US average is $69,021 a year.