Annapolis, MD is a beautiful city with plenty of opportunities for businesses and individuals alike. It boasts many local companies such as Annapolis Boat Club, Tidal Potomac Ventures, and Evolve Fitness. The area has a cost of living higher than the national average; two bedroom rent is $2,080 in Annapolis compared to the US average of $1,430. Additionally, the grocery cost index in Annapolis is 106 versus 100 in the US. Despite these higher costs of living, Annapolis remains an attractive place to live due to its vibrant culture and attractions available to its population.
Annapolis has an unemployment rate of 5.4%. The US average is 6.0%.
Annapolis 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 31.4%, which is lower than the US average of 33.5%.
Tax Rates for Annapolis
- The Sales Tax Rate for Annapolis is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Annapolis is 7.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Annapolis
- The average income of a Annapolis resident is $43,590 a year. The US average is $28,555 a year.
- The Median household income of a Annapolis resident is $92,026 a year. The US average is $69,021 a year.