Springfield, VA is a vibrant community located in Northern Virginia. With its close proximity to Washington D.C., the city has seen an influx of young professionals and families over the past few years. The cost of living in Springfield, VA is relatively high with 2-bedroom rental rates averaging at $1,980 per month compared to the national average of $1,430 per month. Groceries have also become increasingly expensive with the local grocery cost index reaching 112 versus 100 nationally. Despite the higher costs, residents enjoy a broad range of activities and attractions including popular retail centers like Springfield Town Center and Kingstowne Shopping Center, as well as employers like Northrop Grumman Corporation and Booz Allen Hamilton Inc. The city also houses several entertainment venues for families including Dave & Buster's Entertainment Center, Kingpinz Bowling Alley and AMC Theatres at Springfield Mall.
Springfield has an unemployment rate of 4.6%. The US average is 6.0%.
Springfield has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%.
Tax Rates for Springfield
- The Sales Tax Rate for Springfield is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Springfield is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Springfield
- The average income of a Springfield resident is $38,015 a year. The US average is $28,555 a year.
- The Median household income of a Springfield resident is $109,235 a year. The US average is $69,021 a year.